Contacts
Daniel Gonzalez
Matthews Real Estate Investment Services
Alexander Machado
Matthews Real Estate Investment Services
Robert Goldberg
Matthews Real Estate Investment Services
Ben Snyder
Matthews Real Estate Investment Services
Property Details
- Property Type Retail
- Property Size 4,434 SF
- Lot Size 0.41 Acre
- Cap Rate % 7.52
- Additional Rent Contact for pricing
- Building Class C
- Year Built 1964
- Year Renovated 2021
- Date Updated May 24, 2024
- 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 7.52%.
- 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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Chevron
0.70 miles
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Tesla Supercharger
0.76 miles
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Blink
0.88 miles
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ChargePoint
1.25 miles
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Marathon
1.30 miles
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Gulf
1.41 miles
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Sunoco
1.52 miles
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Clipper Creek
1.58 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
1.02 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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Tully Gym East
1.60 miles
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Lot 341
1.64 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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Bealls
1.51 miles
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Centre of Tallahassee
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.
