$5,990,000 USD
954-902-5255
HIGHLIGHTS
- The Asset: Southwood Town Center is a Multi-Tenant Retailer Center, Comprised of Two (2) Buildings With 32,590 SF of Leasable Space
- Scheduled Rent Increases: Five of the Leases Provide Scheduled Rent Increases Throughout the Primary Lease Term or at the Start of the Renewal Options
- Net Leases: All the Tenants Have Net Leases and Are Responsible For Reimbursing Their Pro-Rata Share of All Operating Expenses
- Strong University Presence: Tallahassee is Home to Florida State University (FSU), Florida A&M University (FAMU), and Tallahassee State College
- Area Economic Drivers: The Economy of Tallahassee is Centered Around Government, Education, Healthcare, and Technology
- Strong Demographics: Approximately 23,900 People Live Within 3-Miles of the Property With an Average HHI of $96,307
OVERVIEW
Sands Investment Group is Pleased to Exclusively Offer For Sale the 32,590 SF Southwood Town Center Located at 3196 & 3197 Merchants Row Boulevard in Tallahassee, FL. All the Tenants Have Net Leases and Are Responsible For Reimbursing Their Pro-Rata Share of all Operating Expenses, Repairs, and Maintenance, Making it an Attractive Investment For the Passive Real Estate Investor, Providing For a Secure Investment.
In Cooperation With SIG RE Services, LLC - Lic. #CQ1055229 BoR: Andrew Ackerman - Lic. FL #BK3369953
FOR SALE DETAILS
PRICE
$5,990,000 USD
PRICE/SF
$184 USD /SF
CAP RATE
6.81%
% LEASED
-
TENANCY
Multiple
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Southwood Town Center - Tallahassee, FL
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Department Store
ADD'L SUBTYPES
Storefront, Storefront Retail/Office, Supermarket
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2005
SPRINKLERS
-
PARKING SPACES
220
LAND DETAILS
LAND ACRES
1.24 AC
LAND SF
54,014 SF
ZONING
-
APN/PARCEL ID
31-15-27-00E-001.0
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954-902-5255
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954-902-5255
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