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1309 Thomaswood Dr
Tallahassee, FL 32308
Office Property For Sale
Investment Highlights
- Sale-leaseback structure at closing with a new operator, providing immediate stabilized cash flow
- Surrounded by medical offices, specialty practices, and healthcare-related users that drive consistent patient traffic
- Existing practitioner plans to remain for approximately one year post-closing to assist with the transition of ownership
- Unmatched location in Tallahassee, easy access to Florida State University, and within a 5-minute drive of major retail names.
Executive Summary
This offering is structured as a sale leaseback, allowing the real estate to be sold while the operating business is sold and transferred to new ownership. At closing, a lease will be executed in which the new business owner will occupy the property under a NNN lease structure. The lease terms are $22.00 per square foot in base rent with $4.00 per square foot for CAM reimbursements, providing a stable and predictable income stream for the real estate investor. The lease will include extension options, offering long term tenancy and continuity of operations at the property.
Property Facts
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Office
Property Subtype
Medical
Building Size
4,500 SF
Building Class
B
Year Built
1991
Price
$1,500,000
Price Per SF
$333.33
Cap Rate
7.43%
NOI
$111,450
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,250 SF
Slab To Slab
9’
Building FAR
0.23
Lot Size
0.44 AC
Zoning
OR-3
Parking
20 Spaces (4.44 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 11-08-73-000-003.1 | Improvements Assessment | $502,551 |
| Land Assessment | $138,954 | Total Assessment | $641,505 |
Property Taxes
Parcel Number
11-08-73-000-003.1
Land Assessment
$138,954
Improvements Assessment
$502,551
Total Assessment
$641,505
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