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    140 Capital Cir Tallahassee, FL 32304

    Sponsored
    For Sale
    $5,248,000

    High-traffic, long-term Walgreens investment.

    Property size:
    14,751 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple, 14,751 square-foot Walgreens located at 140 Capital Cir SW, Tallahassee, FL 32304. The property boasts a 13-year absolute NNN lease with Walgreens (NYSE: WBA), commencing September 1, 2022, and expiring August 31, 2035, leaving approximately 10.8 years remaining. The lease includes twelve five-year renewal options, with attractive 5% rent bumps every five years. Situated on a 1.72-acre lot, this single-story, 1983-built building features a drive-thru pharmacy and benefits from exceptional visibility on a hard-signalized corner, experiencing traffic exceeding 55,500 vehicles daily. The property's prime location within a dense retail corridor, alongside national tenants such as Walmart, McDonald's, Ross Dress for Less, and others, ensures consistent high traffic and strong tenant performance. The property generates a Net Operating Income (NOI) of $340,860, representing a 6.50% cap rate and a price per square foot of $355.77. The asking price is $5,248,000. This strategically located asset offers significant long-term value, enhanced by its proximity to Florida State University and downtown Tallahassee, within a no-income-tax state. The corporate guarantee from Walgreens provides significant security and stability for this investment. The property's fee-simple ownership allows for depreciation benefits.

    Property Features for 140 Capital Cir

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,751 SF
    Lot Size
    74,923 SF

    Building Details

    Year Built
    1983
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Walgreens‑anchored property with corporate guarantee (NYSE: WBA).
    • Long‑term, absolute NNN lease with approximately 12 years remaining.
    • Recently renewed lease with 5% rental increases every five years.
    • High‑traffic location in a dense retail corridor with Walmart, McDonald's, and other national tenants.
    • Excellent visibility from a hard‑signalized corner, exceeding 55,500 vehicles daily.
    • Fee‑simple ownership allowing for depreciation benefits.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Walgreens Pharmacy Pharmacy Walgreens Drug Store Coinhub Bitcoin ATM ... Atm LibertyX Bitcoin ATM Atm

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Hair Salon Wholesale Shop Auto Repair Shop 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
    -84.3616646
    Latitude
    30.4580581

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    FAQs

    What type of property is this?
    Individual retail property - High-traffic, long-term Walgreens investment.
    Where is this individual retail property located?
    The property is located at 140 Capital Cir Tallahassee, FL.
    What is the asking price?
    The asking price for this property is $5,248,000.
    What are key features of this property?
    This property features: Walgreens-anchored property with corporate guarantee (NYSE: WBA).; Long-term, absolute NNN lease with approximately 12 years remaining.; Recently renewed lease with 5% rental increases every five years.
    Request Owner's contact information
    140 Capital Cir Tallahassee, FL 32304
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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
    140 Capital Cir Tallahassee, FL 32304
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