1415 Timberlane Rd Tallahassee, FL 32312

Property Details for 1415 Timberlane Rd

Year built

1977

Lot size

10.48 lot acres

Property size

81,082 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional Class A, 81,082 square foot retail center in Tallahassee, Florida, presents a compelling investment opportunity. Priced at $31,800,000, it boasts an 8.00% cap rate and a strong NOI of $2,544,295. The property, featuring a multi-tenant occupancy including REI, underwent a complete redevelopment and new construction in 2024. Situated on a 10.48-acre lot at 1415 Timberlane Rd, Tallahassee, FL 32312, this NNN leased property benefits from a prime location in the Market Street District, at the intersection of I-10 and Thomasville Road, experiencing high traffic counts exceeding 57,600 and 60,100 vehicles daily. The center's strategic location draws customers from a 30-mile radius, serving not only the Tallahassee metro market but also surrounding areas. The property is anchored by a synergistic mix of regional and national tenants and is surrounded by a densely populated affluent area with an average household income exceeding $100,000 within a 3-mile radius and over 123,000 residents within a 5-mile radius. Its proximity to Florida State University (4 miles) further enhances its appeal, providing access to a student population of over 58,000. The surrounding area includes many sought-after retailers, including Whole Foods, Trader Joe's, and more. Built in 1977 and extensively renovated in 2024, this property offers a blend of established success and modern appeal, making it an ideal investment for discerning buyers. The property's trade area is characterized by strong economic indicators, including the Tallahassee Metropolitan Statistical Area's ranking as the highest among Florida's 22 areas for percentage growth in real GDP per capita.