Tallahassee Distribution Facility For
For Sale
Contact for pricing
889 Mabry St, Tallahassee, FL 32304
Distribution facility near Florida State University with long-term lease.
Property Size97,217 SF
Lot Size4.80 Acres
Price / SF$58.55
Days on Market189
Property Features for 889 Mabry St
General Information
Standard status
Active
Size
97,217 SF
Lot size
4.80 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$355,775
Building Details
Year Renovated
2026
Tenancy
Single
Listing Agency:
ParaSell Inc
(949) 942-6585
Listed By:
Scott Reid · License #9009637
Source:
Crexi
Added: Feb 5
Changed: Aug 12
Last Checked: Aug 11 at 8:18AM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
The property is a distribution facility located at 889 Mabry Street in Tallahassee, Florida, serving Florida State University and the greater Tallahassee market. The building has approximately 28,850 square feet and sits on a ~4.80-acre site with approximately 68,367 square feet of covered industrial outdoor storage. The location benefits from immediate proximity to Florida State University, driving consistent demand tied to ongoing facilities maintenance, infrastructure upgrades, and capital improvement projects within an education-anchored economy. The property is leased to Ferguson Enterprises, an industry-leading distributor with approximately $30+ billion in annual revenue and a national footprint of 1,700+ locations. The asset is secured by a corporate-guaranteed, modified NNN lease with approximately 9 years of remaining term. Ferguson has made a seven-figure, tenant-funded capital investment into the facility, completing substantial functional renovations including showroom modernization, office and administrative upgrades, warehouse layout optimization, high-bay lighting, electrical enhancements, ADA compliance improvements, and exterior site upgrades.
Key Highlights
- Corporate‑guaranteed lease by Ferguson Enterprises (NYSE: FERG), a BBB+ rated, industry‑leading distributor with $30+ billion in annual revenue.
- Mission‑critical distribution facility serving Florida State University and the greater Tallahassee market.
- Approximately 9 years of remaining lease term with 10% rental increases at each of the two 5‑year option periods.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Explore this area
Business Placement
Demographics for 32304, FL
50,007
Population
23,296
Households
2.1
Avg Household Size
25
Median Age
36%
College-Educated
89%
High-School Grad
15.2 sq mi
ZIP Area
3,290
Density / Sq Mi
$30,823
Median Household Income
$14,475
Median Earnings
$1,132
Median Rent
$147,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Distribution center - Distribution facility near Florida State University with long-term lease.
Where is this distribution center located?
The property is located at 889 Mabry St Tallahassee, FL.
What is the asking price?
The asking price for this property is $5,692,413.
What are key features of this property?
This property features: Corporate‑guaranteed lease by Ferguson Enterprises (NYSE: FERG), a BBB+ rated, industry‑leading distributor with $30+ billion in annual revenue.; Mission‑critical distribution facility serving Florida State University and the greater Tallahassee market.; Approximately 9 years of remaining lease term with 10% rental increases at each of the two 5‑year option periods.
