Advertise
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Southwood Town Center Retail Asset Title is generated by Realmo AI

    Merchants Row Blvd 3196, Tallahassee, FL

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    32,590 SF NNN asset in Tallahassee, Florida for sale.

    Type:RETAIL
    Property size:
    32,590 SF
    Lot size:
    0.76 Acres
    Price / SF:
    $183/SF
    Added:
    Jul 24, 2025
    Days on Market:
    324
    Last Refresh:
    May 20 at 8:45 pm

    Property Features for Merchants Row Blvd 3196

    General Information

    Standard status
    Active
    Size
    32,590 SF
    Lot size
    0.76 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Andrew Ackerman
    Andrew Ackerman

    Listing agent Andrew Ackerman

    Listing office Sands Investment Group (SIG) | Fort Lauderdale

    Listing date Jul 24, 2025

    Source Moodyscre

    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 Sands Investment Group (SIG) | Fort Lauderdale

    HighLights

    • 32,590 SF Southwood Town Center NNN Asset
    • Located at 3196 & 3197 Merchants Row Boulevard in Tallahassee, FL
    • Net Leases in Place
    • Tenants responsible for pro‑rata share of operating expenses
    • Tenants responsible for pro‑rata share of repairs
    • Tenants responsible for pro‑rata share of maintenance

    Overview

    The Southwood Town Center, a 32,590 square foot retail asset, is available for sale. Located at 3196 & 3197 Merchants Row Boulevard in Tallahassee, FL, the property features net leases where tenants reimburse their pro-rata share of operating expenses, repairs, and maintenance.

    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 $488.9k $15.00
    − Vacancy −$36.7k −$1.13
    EGI $452.2k $13.88
    − OpEx −$135.7k −$4.16
    NOI $316.5k $9.71
    32,590 SF · lease $15.00/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $4.52M
    $3.96M – $5.28M (±1% cap)
    NOI $316,530 @ 7.0% cap · market cap 5.28%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $7.99M
    $6.99M – $9.32M (±1% cap)
    NOI $559,276 @ 7.0% cap · market cap 9.34%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Subway Take-out & Catering Center for Orthopedic and Sports ... Medical Clinic Glasswing Goods (Bike/Boat/Book/etc) Store Canopy Road Café Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Nail Salon Building Supply Gym & Fitness Center Daycare Center Skin Care Clinic

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

    Similar Places Nearby

    • Southwood Town Center — 3196 Merchants Row Blvd, Tallahassee, FL 32311

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.2239
    Latitude
    30.3919

    Nearby Similar for Sale

    • $995,000
      4,500 SF

      Turn-Key Childcare Facility For Sale

      Established childcare facility with excellent visibility and flexible commercial zoning.
      3472 N MONROE Street, Tallahassee, FL 32303
      View Details
    • $440,000
      3,264 SF

      Turnkey Office Building Near Downtown

      Well-maintained, remodeled office building with ample parking near downtown Tallahassee.
      1707 S Gadsden, Tallahassee, FL 32301
      View Details
    • $2,350,000

      Flex Office Warehouse Property

      Flex office and warehouse building on Capital Circle SW, suited for distribution, service contractors, and light industrial operations.
      1700 SW Capital Circle, Tallahassee, FL 32310
      View Details
    • $440,000
      3,264 SF

      Turnkey Building Near Downtown Tallahassee

      Well-maintained, remodeled commercial building with ample parking and accessibility features.
      1707 S Gadsden Street, Tallahassee, FL 32301
      View Details
    • $1,100,000

      Renovated Downtown Tallahassee Brick Building

      Meticulously renovated property with offices, bar, and entertainment area.
      1202 E Park Avenue, Tallahassee, FL 32301
      View Details
    • $1,450,000

      Profitable Tallahassee Restaurant with Drive-Thru

      Operating Dairy Queen franchise with real estate and assignable ground lease.
      2227 N Monroe Street, Tallahassee, FL 32303
      View Details
    • $859,900

      Mixed-Use Investment Opportunity

      Versatile mixed-use property with diversified income potential in Tallahassee, FL.
      3976 N Monroe Street, Tallahassee, FL 32303
      View Details
    • $849,000

      Waterfront Restaurant Opportunity on Lake Jackson

      Turn-key restaurant with lake views, ample parking, and outdoor stage.
      4806 Jackson Cove Road, Tallahassee, FL 32303
      View Details
    • $739,000

      Historic Governor Bloxham House

      Historic building suitable for office or hospitality use.
      410 N Calhoun Street, Tallahassee, FL 32301
      View Details
    • $1,900,000
      750 SF

      Student Housing Investment Opportunity

      13-unit apartment complex near Florida A&M University.
      1533 S Bronough Street, Tallahassee, FL 32301
      View Details
    • $375,000

      Updated Office Condo with Five Suites

      Completely updated office condo offering five independent suites with in-suite water access and shared entry waiting area.
      1725 NE Capital Circle, Tallahassee, FL 32308
      View Details
    • $399,900

      Mixed-Use Live-Work Office Building

      Offers eight office spaces with a reception area, kitchen, 1.5 baths, and paved parking with partial covered spots.
      231 Lafayette Circle, Tallahassee, FL 32303
      View Details

    FAQs

    What type of property is this?
    Shopping center - 32,590 SF NNN asset in Tallahassee, Florida for sale.
    Where is this shopping center located?
    The property is located at Merchants Row Blvd 3196 Tallahassee, FL.
    What is the asking price?
    The asking price for this property is $5,990,000.
    What are key features of this property?
    This property features: 32,590 SF Southwood Town Center NNN Asset; Located at 3196 & 3197 Merchants Row Boulevard in Tallahassee, FL; Net Leases in Place
    (770) 626-0445 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Andrew Ackerman
    Andrew Ackerman
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Merchants Row Blvd 3196, Tallahassee, FL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!