1350 Mahan Dr Tallahassee, FL 32308
- Lifestyle centers
- 29,055 SF
Current Use by Public Records
- GREATNESS BARBERSHOP® / Barber Shop
- AthleticMuscle / Personal Trainer / Marketing Agency
- Hip Hop Fish & Chicken / Restaurant
- Chez Blums International LLC / African Goods Store
- Nails to Tails pet salon / Pet Groomer
Property Details for 1350 Mahan Dr
- Year built
- 2024
- Property size
- 29,055 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity encompasses Mahan Plaza, a fully occupied, 18-unit retail center totaling 29,055 square feet, and a 705-square-foot outparcel in Tallahassee, Florida. The property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $566,800, and a 6.50% cap rate. The asking price is $8,720,000, translating to $300.12 per square foot. The plaza, renovated in 2023, features modern amenities and is strategically located on a busy Tallahassee thoroughfare, minutes from an I-10 interchange, ensuring high visibility and accessibility. The outparcel, constructed in 2024, is leased to a credit-rated franchisee of a well-established national brand, Red Owl Coffee, under a new 10-year NNN lease. The property consists of two single-story buildings and includes 17 units within the shopping center, in addition to the Red Owl Coffee location. This portfolio sale presents a compelling investment opportunity in Tallahassee's thriving commercial market, offering stable income and significant long-term potential. The property is situated at 1350 Mahan Dr, Tallahassee, FL 32308, within Leon County. The sale is offered by the owner.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.2606
- Latitude
- 30.4488
