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3117 Parklawn St Tallahassee, FL 32304

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For Sale
$1,950,000

15-Unit Apartment Complex, High ROI Potential

Property Features for 3117 Parklawn St

General Information

Property type
Other commercial real estate
Lot Size
123,710 SF

Building Details

Year Built
2019

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Listing Contact
Joan Hage

Listing Agency: Realty One Group Engage Listing Agent: Joan Hage

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment opportunity presents a 15-unit apartment complex situated on a substantial 2.84-acre lot in Tallahassee, Florida. Priced at $1,950,000, this property offers a compelling return on investment with a current cap rate exceeding 8.7%, projected to rise above 9.2% with the inclusion of rental income from the owner's unit. The complex comprises twelve detached buildings, providing significant potential for expansion and the addition of further units. The property's strategic location, just three miles from Florida State University's College of Medicine, ensures high occupancy rates due to strong demand from faculty, staff, and medical professionals. The main house is uniquely subdivided into four individual one-bedroom, one-bathroom units, contributing to the overall rental income stream. This well-maintained property offers a rare blend of immediate income generation and substantial future development potential, making it an attractive proposition for discerning investors seeking a strong return in a desirable location. The existing infrastructure and ample land provide a solid foundation for future growth and expansion, allowing for increased rental income and enhanced property value. This is a turnkey investment ready for immediate income generation and long-term appreciation. The property's current performance and future potential make it a highly desirable asset in the Tallahassee market.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Tallahassee
County
Leon County
State
Florida
Longitude
-84.34618
Latitude
30.45266

FAQs

What type of property is this?
Commercial real estate - 15-Unit Apartment Complex, High ROI Potential
Where is this commercial real estate located?
The property is located at 3117 Parklawn St Tallahassee, FL.
What is the asking price?
The asking price for this property is $1,950,000.
More about this property
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