1719 W Tennessee St - Retail FOR SALE


Tallahassee, FL 32304- Chapel Ridge
$3,941,630 USD
727-452-6864
1719 W Tennessee St, Tallahassee, FL for Sale
$3,941,630 USD
Retail - FOR SALE
1/3
null | 7% Cap Rate

1719 W Tennessee St
Tallahassee, FL 32304
Chapel Ridge


OVERVIEW

RIPCO Real Estate is pleased to offer for sale 1719 W Tennessee Street, a 7,128 SF commercial property located on the southside of W Tennessee Street in Tallahassee, FL. Jungle Boys Cannabis Dispensary signed a 10-year, absolute NNN lease in 2022 which included a full renovation and annual rental increases. The property is located in the most densely populated area in North Florida, with over 30,121 people within 1 mile of the site and just 0.25 miles from Florida State University with over 40,000 students enrolled. Nearly 4% of Florida’s total population are medical marijuana patients, making Florida the state with the highest number of medical marijuana patients in the country for states tracking patient registry. This stretch of W Tennessee Street where the property is located has an AADT of 38,500. Within 3 miles of 1719 W Tennessee Street, there is a population of 104,648 and an average household income of $59,528. The asset would be an attractive investment opportunity for investors looking for no landlord responsibilities, a newly-renovated commercial property, occupied by a tenant with strong dedication to the location, and located 0.25 miles from Florida State University, one of the largest universities in the Southeast United States.

FOR SALE DETAILS

PRICE

$3,941,630 USD

PRICE/SF

$553 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jungle Boys Cannabis Dispensary

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

CP

APN/PARCEL ID

21-35-20-209-000.0

ASK ABOUT THIS PROPERTY

Ari RaviRIPCO Real EstateMore Info
727-452-6864

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Ari RaviRIPCO Real EstateMore Info
727-452-6864

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.