Contacts
Daniel Gonzalez
Matthews Real Estate Investment Services
(305) 395-6972
Alexander Machado
Matthews Real Estate Investment Services
(305) 359-5207
Robert Goldberg
Matthews Real Estate Investment Services
(954) 237-4510
Ben Snyder
Matthews Real Estate Investment Services
(216) 503-3607
Property Details
- Property Type Retail
- Property Size 4,434 SF
- Lot Size 0.41 Acre
- Cap Rate % 7.25
- Building Class C
- Year Built 1964
- Year Renovated 2021
- Date Updated Dec 13, 2023
- LONG-TERM LEASE – There are over 9 Years remaining on the base term of the lease, providing stability and security for investors.
- HIGH YIELDING INVESTMENT – Property is being offered at a Year-1 in place cap rate of 7.25%.
- EARLY LEASE EXTENSION – The tenant has recently executed a 4-year lease extension, demonstrating their commitment to the site.
- NEW ROOF WITH 15-YEAR TRANSFERABLE WARRANTY – The property’s roof was recently replaced in 2023, and it comes with a transferable 15-year warranty.
- FAVORABLE RENTAL INCREASE – 2.50% Annual Rental escalations provide investors with a hedge against inflation.
- PROVEN OPERATOR – Brady Cobb, the CEO of Sunburn, has a track record of success. Previously, he built, grew, and operated in Florida under the name One Plant/Bluma Wellness. After successfully establishing the company, he entered into an agreement to sell it to Cresco Labs, operating as Sunnyside, for $213 million. Following this, Brady re-entered the Florida cannabis market by acquiring MedMen’s Florida assets for a total consideration of $63 million.
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Getting around
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74/100
Walk Score ®
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43/100
Transit Score ®
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56/100
Bike Score ®
Location
- City Tallahassee, FL
- Neighborhood Midtown Tallahassee
- Zip Code 32303
- Market Tallahassee
Points of Interest
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Shell
0.20 miles
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Total Buy Store
0.24 miles
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Shell
0.26 miles
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Chevron
0.70 miles
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Tesla Supercharger
0.76 miles
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SemaConnect
0.88 miles
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Shell
1.15 miles
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ChargePoint
1.25 miles
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Shell
1.30 miles
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Gulf
1.41 miles
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Newman Lot
0.56 miles
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Call Street Garage
0.98 miles
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Palm Court Parking Lot
1.03 miles
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Kleman Plaza Parking Garage
1.11 miles
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Saint Augustine Street Garage
1.36 miles
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Woodward Avenue Garage
1.41 miles
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Traditions Way Garage
1.44 miles
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FSU Commuter Parking
1.57 miles
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Lot 341
1.64 miles
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Pensacola Street Parking Garage
1.72 miles
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Luna's Italian Food
0.03 miles
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Midtown Pies
0.04 miles
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Taco Republik
0.04 miles
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Whataburger
0.05 miles
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Lucy and Leo
0.05 miles
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Jeri's Midtown Cafe
0.06 miles
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Wild Cajun Crawfish and Oyster Bar
0.11 miles
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Table 23
0.11 miles
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El Cocinero
0.13 miles
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Bruegger's Bagels
0.15 miles
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Publix
0.65 miles
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Whole Foods Market
0.76 miles
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Winn-Dixie
1.47 miles
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What's The Point? Piercing Studio
1.48 miles
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Beall's Outlet
1.51 miles
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Centre of Tallahasse
1.58 miles
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Marshalls
1.58 miles
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Belk
1.60 miles
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Ross
1.60 miles
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Community Co-op Market
1.61 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
