Overview

Description

The property is an impervious ½ city block of land primed for redevelopment, located in between Midtown and Downtown Tallahassee and 3 blocks south of the Florida Governor's Mansion. The site in total measures 1.02 acres and is zoned Central Core which allows a maximum density of 150 dwelling units per acre. The 9,078 SF structure on site is currently leased to a charter school who recently exercised a 3 year lease extension. Property is generating a year 1 net operating income of $101,846 with 3% annual increases. The lease contains a clause that allows landlord to terminate the lease with 180 day written notice to the tenant. This sets the table for a developer to obtain their permits while realizing a substantial cash flow to help fund their pending project.

Situated in between Midtown and Downtown Tallahassee and 3 blocks south of the Florida Governor's Mansion.

Highlights

• Generating substantial cash flow
• Favorable landlord lease terms
• Central Core (CC) Zoning (150 dwelling units / acre)
• Flat & impervious site

Documents

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