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1968 W Tennessee St 5,000 SF Retail Building Tallahassee, FL 32304 $3,390,000 ($678/SF) 7.25% Cap Rate
Investment Highlights
- Florida State University: Located 0.25 miles away from Florida State University, home to 46,184 students.
- Highest Traffic Location: Positioned on a hard corner lighted intersection, W Tennessee Street has the highest traffic counts for any road surrounding
- National Retail Hub: Anchored by national tenants like Publix, Target, and Adli in close proximity to the property.
Executive Summary
STNL.com is pleased to present this 100% fee simple STNL The Flowery cannabis dispensary located in the heart of Tallahassee, FL located within Florida State University. Three reasons to own this property include:
1. Florida State University: Located approximately 0.25 miles from Florida State University, which enrolls 46,184 students. The property benefits from immediate access to this large student population, driving consistent daily traffic and supporting nearby retail demand.
2. Retail Hub: Located within a dense retail corridor anchored by nationally recognized tenants such as Publix and Target, both situated directly across the street from the
subject property. The corridor is home to a variety of national retailers, reflecting strong tenant demand and a well-established retail market.
3. Investment-Grade Location: Positioned along West Tennessee Street, one of Florida State University's primary thoroughfares. With traffic counts exceeding 43,500 vehicles per day, the property offers strong visibility and access, supporting its position as an investment-grade location.
1. Florida State University: Located approximately 0.25 miles from Florida State University, which enrolls 46,184 students. The property benefits from immediate access to this large student population, driving consistent daily traffic and supporting nearby retail demand.
2. Retail Hub: Located within a dense retail corridor anchored by nationally recognized tenants such as Publix and Target, both situated directly across the street from the
subject property. The corridor is home to a variety of national retailers, reflecting strong tenant demand and a well-established retail market.
3. Investment-Grade Location: Positioned along West Tennessee Street, one of Florida State University's primary thoroughfares. With traffic counts exceeding 43,500 vehicles per day, the property offers strong visibility and access, supporting its position as an investment-grade location.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,000 SF
Building Class
B
Year Built/Renovated
1981/2024
Price
$3,390,000
Price Per SF
$678
Cap Rate
7.25%
NOI
$245,864
Tenancy
Single
Building Height
1 Story
Building FAR
0.52
Lot Size
0.22 AC
Zoning
CP
Parking
50 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
79’ on W Tennessee St
Amenities
- Dedicated Turn Lane
- Signalized Intersection
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 21-27-20-450-000.0 | Improvements Assessment | $792,106 |
| Land Assessment | $203,639 | Total Assessment | $995,745 |
Property Taxes
Parcel Number
21-27-20-450-000.0
Land Assessment
$203,639
Improvements Assessment
$792,106
Total Assessment
$995,745
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1968 W Tennessee St
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