Property profile

950 Tharpe St Tallahassee, FL 32303

OFF-MARKET
Land
0.67 ac lot
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Property summary

AI-generated overview

This exceptional 0.67-acre commercial land parcel in Tallahassee, Florida, presents a unique build-to-suit opportunity. Located at 950 W Tharpe St, in Leon County (zip code 32303), this C-2 zoned property is ideally situated adjacent to a thriving four-tenant strip center and a Family Dollar, indicating strong surrounding commercial activity and high visibility. The site is ready for immediate development, with all utilities already in place. The existing infrastructure includes stormwater management solutions for the mostly impervious area. This dual drive-thru pad site is designed to accommodate a variety of uses, including restaurant, retail, or bank spaces, ranging from 1,200 to 2,500 square feet. One drive-thru lane is already under contract. The property is offered at $550,000. The current owners are open to building to suit and leasing back a portion of the space under a triple-net lease (NNN) agreement, with a target rent of approximately $20 per square foot, subject to plan review and approval. This presents a compelling investment opportunity for developers and businesses seeking a prime location in a rapidly growing area. The property's strategic location and build-to-suit potential make it an attractive proposition for those seeking a turnkey solution in a high-traffic area.

Property profile

Verified
Property type Land
Lot 0.67 ac (29,185 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hair Salon
  • Restaurant
  • Restaurant
  • (Bike/Boat/Book/etc) Store Alternative Medicine Practice
  • Accounting Firm Tax Preparation

Location

950 Tharpe St Tallahassee, FL 32303
Tallahassee metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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