3808 Monroe St Tallahassee, FL 32303
- Retail properties
- 3,200 SF
Current Use by Public Records
- Papa Johns Pizza / Pizza Restaurant
- Just One More / Bar
Property Details for 3808 Monroe St
- Year built
- 1997
- Property size
- 3,200 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
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.
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
- -84.3295
- Latitude
- 30.5009
