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    3808 Monroe St Tallahassee, FL 32303

    Sponsored
    For Sale
    $1,100,000

    High-traffic, fully leased bar & restaurant.

    Property size:
    3,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a 3,200 square foot, single-story multi-tenant retail building located at 3808 N Monroe St, Tallahassee, FL 32303. The property, built in 1997, boasts 100% occupancy with two units currently leased to Papa John's and Just One More, both operating as established bar and restaurant businesses. Papa John's lease has two years remaining, while Just One More's lease extends for four years. Both leases are NNN (Net, Net, Net), minimizing landlord responsibilities and providing stable income streams. Importantly, both tenants are currently paying below-market rent, presenting a significant opportunity for future rental growth upon lease expiration. The property benefits from its high-visibility location in a busy commercial area, minutes from the I-10 interchange, ensuring consistent foot traffic and high visibility. This well-maintained building offers a strong rental income potential and represents a compelling investment for those seeking a steady return with substantial upside potential in a prime Tallahassee location. The property consists of one building with two units, offering a total of 3,200 square feet. This is a rare opportunity to acquire a fully leased, high-performing asset in a thriving commercial corridor.

    Property Features for 3808 Monroe St

    General Information

    Property type
    Restaurants
    Square Feet
    3,200 SF

    Building Details

    Year Built
    1997
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • Prime location, minutes from I‑10 interchange.
    • 100% occupancy with below‑market NNN leases; Papa John's (2 years remaining) and Just One More (4 years remaining).
    • Strong rental income potential with significant upside.
    • Well‑maintained, 3,200 SF, single‑story retail building offering high visibility and foot traffic.
    Property Profile Location Intelligence

    Current Use by Public Records

    Papa Johns Pizza Pizza Restaurant Just One More Bar

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Tallahassee
    County
    Leon
    State
    Florida
    Longitude
    -84.3294583
    Latitude
    30.5008756

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    FAQs

    What type of property is this?
    Restaurant - High-traffic, fully leased bar & restaurant.
    Where is this restaurant located?
    The property is located at 3808 Monroe St Tallahassee, FL.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Prime location, minutes from I-10 interchange.; 100% occupancy with below-market NNN leases; Papa John's (2 years remaining) and Just One More (4 years remaining).; Strong rental income potential with significant upside.
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    3808 Monroe St Tallahassee, FL 32303
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3808 Monroe St Tallahassee, FL 32303
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