Stabilized Multi-Tenant Retail
1212 & 1216 North Monroe Street Tallahassee, FL 32303
1212 & 1216 North Monroe Street, Tallahassee, FL, 32303
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For Sale
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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 Market16
Property Features for 1212 & 1216 North Monroe Street
General Information
- Standard status
- Active
- Size
- 13,262 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1946
Listing agency
Mattox Realty
(850) 383-1966
Listed by
Steve Mattox · License #BK3032512
Source
Crexi
Added: Jul 6 Updated: Jul 20 at 5:37PM Checked: Jul 21 at 4:46AM
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
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
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $198.9k | $15.00 |
| − Vacancy | −$14.9k | −$1.13 |
| EGI | $184.0k | $13.88 |
| − OpEx | −$55.2k | −$4.16 |
| NOI | $128.8k | $9.71 |
13,262 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Centerpoint Church
Church
Direct Primary Care ...
Medical Clinic
Synergee Fitness
Gym & Fitness Center
Similar For Sale Nearby
FAQs
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
