Stabilized Multi-Tenant Retail
For Sale
Contact for pricing
1212 & 1216 North Monroe Street, Tallahassee, FL 32303
Stabilized, fully occupied infill retail asset with multi-tenant configuration and in-place triple-net recoveries cash flow.
Property Size13,262 SF
Price / SF$248.83
Days on Market109
Property Features for 1212 & 1216 North Monroe Street
General Information
Standard status
Active
Size
13,262 SF
Class
B
Total Parking Spaces
45
Property subtype
Retail
Zoning
Central Urban-45 and Central Urban-26
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$229,008
Additional Details
Business Included
Yes
Building Details
Year Built
1946
Year Renovated
2010
Buildings
2
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Mattox Realty
Listed By:
Steve Mattox · License #BK3032512
(850) 508-4105
Source:
Crexi
Added: Jul 6
Changed: Oct 10
Last Checked: Oct 20 at 7:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mattox Realty
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Investment Insights
Based on property information with market context.
This stabilized infill retail asset consists of a functional multi-tenant configuration with legacy frontage. The property is described as fully occupied, with in-place cash flow supported by triple-net recoveries.
The asset is located within a mature Tallahassee trade area and positioned in a commercial district that is reported to be 95% developed. It is presented as a long-term income-oriented retail holding supported by durable access.
As an NNN investment property, it is marketed for buyers seeking stabilized occupancy and recoveries-driven cash flow within an established retail corridor.
The asset is located within a mature Tallahassee trade area and positioned in a commercial district that is reported to be 95% developed. It is presented as a long-term income-oriented retail holding supported by durable access.
As an NNN investment property, it is marketed for buyers seeking stabilized occupancy and recoveries-driven cash flow within an established retail corridor.
Key Highlights
- Retail property built in 1946
- Stabilized infill retail asset with full occupancy
- In‑place cash flow supported by triple‑net recoveries
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,807
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,576,140
$2.6M
Cap Rate 7%
$1,840,100
$1.8M
Cap Rate 9%
$1,431,189
$1.4M
Market Conditions
NOI Build-Up for 13,262 SF
Gross rent
$198.9K $15.00/SF
− Vacancy
−$14.9K −$1.13/SF
EGI
$184.0K $13.88/SF
− OpEx
−$55.2K −$4.16/SF
NOI
$128.8K $9.71/SF
Area
Tallahassee, FL
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,576,140
Cap Rate 7%
$1,840,100
Cap Rate 9%
$1,431,189
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.15M
NOI $128,807 @ 7.0% cap · market cap 3.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,589 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,469
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Hotels & Casinos 29%
Dining 25%
Sunoco
Shops & Services
5,597 visits/mo
0.2 miles
Hyatt House Tallahassee Capitol - University
Hotels & Casinos
4,986 visits/mo
0.5 miles
SUBWAY
Dining
4,261 visits/mo
0.1 miles
Avis Budget Car Rental
Shops & Services
2,059 visits/mo
0.1 miles
Demographics for 32303, FL
48,644
Population
24,864
Households
2
Avg Household Size
34
Median Age
46%
College-Educated
95%
High-School Grad
34.8 sq mi
ZIP Area
1,398
Density / Sq Mi
$63,123
Median Household Income
$37,702
Median Earnings
$1,324
Median Rent
$204,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - Stabilized, fully occupied infill retail asset with multi-tenant configuration and in-place triple-net recoveries cash flow.
Where is this retail space located?
The property is located at 1212 & 1216 North Monroe Street Tallahassee, FL.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Retail property built in 1946; Stabilized infill retail asset with full occupancy; In‑place cash flow supported by triple‑net recoveries
