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Tire Kingdom 3475 Apalachee Pky 6,672 SF Retail Building Tallahassee, FL 32311 $2,996,766 ($449.16/SF) 5.35% Cap Rate
Investment Highlights
- Double Net (NN) Lease | Minimal Landlord Obligations - Limited to Roof and Structure
- Strong Dedication to Location | Occupying Since 2001
- Heavily Trafficked Road | Main Retail Corridor with Direct Access to Downtown Tallahassee
- Recent Lease Renewal - 15 Year Extension Showcasing Long Term Commitment To The Subject Property
- Four (4), Five Year Options | 5% Increases in Each Option Period
- Next 5% Rental Increase - August 2031
Executive Summary
Double Net (NN) Lease | Minimal Landlord Obligations - Limited to Roof and Structure
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Repair
Building Size
6,672 SF
Building Class
B
Year Built
2001
Price
$2,996,766
Price Per SF
$449.16
Cap Rate
5.35%
NOI
$160,327
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.86 AC
Zoning
CP - Commercial Parkway Zoning District
Parking
27 Spaces (4.05 Spaces per 1,000 SF Leased)
Frontage
156’ on Apalachee
Amenities
- Dedicated Turn Lane
- Pylon Sign
Nearby Major Retailers
Property Taxes
| Parcel Number | 31-03-20-060-000.0 | Improvements Assessment | $431,383 |
| Land Assessment | $243,503 | Total Assessment | $674,886 |
Property Taxes
Parcel Number
31-03-20-060-000.0
Land Assessment
$243,503
Improvements Assessment
$431,383
Total Assessment
$674,886
Contacts
-
Deno Bistolarides -
Anthony Minuto -
Dante Hargis -
Aliyah Rouls -
Encore Real Estate Investment Services
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Tire Kingdom | 3475 Apalachee Pky
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