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Available For Sale - Retail

3,200 SF | Show Pricing $

AVAILABILITY DETAILS

Size
3,200 SF
Price/SF
Show Pricing $
Listing ID
SA369753
Notes
SVN is pleased to present this Net Leased Investment property, featuring Verizon Wireless (Corporate store) in Tallahassee, FL. The single tenant store was renovated for Verizon Wireless in 2007 and they have been in the location for over 10 years. It features a new 5- year NN lease renewal on 4/1/2018, with a second 5-year renewal option at the increased rental bump. The 3,200sf store is located in one of the busiest trade areas in Tallahassee on a 1.2 acre site with traffic counts in excess of 42,000 VPD.



National retailer brands in the immediate area surrounding the Verizon store include Kohl’s, Goodwill, Wendy’s, JC Penny, Dillards, Best Buy, Office Depot, Dicks, Jason's Deli, Hardee's and many others. The State of Florida Capitol building is only 1.5 miles west of this location. There are 3 new hotels being constructed in the immediate area.



The lease is a Double Net Lease with Landlord responsible for Roof, Structure. Tenant pays for ad valorem taxes, casualty insurance and other maintenance. This renewal period term which commenced on April 1, 2018 and runs thru March 31, 2023, and also has one 5-year option period that bumps the rent to $174,200 on April 1, 2023.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Carlton Dean SIOR CCIM, SVN | SouthLand Commercial