1240 Thomasville Rd Tallahassee, FL 32303-8707

Property Details for 1240 Thomasville Rd

Year built

2009

Construction

FRAME

Lot size

0.50 lot acres

Property size

10,266 SF

Property type

Community centers

APN

21-25-51-000-001-0

APU

2125510000010

Description

This exceptional investment opportunity presents Orleans at Midtown, a two-story, 11,491 square foot multi-tenant shopping center in Tallahassee, Florida. Located on high-traffic Thomasville Road (34,500 vehicles per day), this property boasts five tenants under Net Lease agreements with built-in rent bumps, providing a hedge against inflation and consistent NOI growth. The current Net Operating Income (NOI) stands at $239,042, yielding a 6.96% cap rate on the $3,435,000 asking price. Landlord responsibilities are limited to roof, structure, foundation, and exterior walls. The property sits on a 0.47-acre lot and was built in 2009. Its strategic location, just two miles from Florida State University (44,000+ students) and three miles from Florida A&M University (10,000+ students), ensures a robust consumer base. The strong demographics are further supported by a 5-mile trade area encompassing over 186,000 residents and 166,000 employees, with an average household income of $88,249 within a one-mile radius. Proximity to downtown Tallahassee, the Capitol building, and other major retailers like Whole Foods, Publix, and Whataburger, enhances its appeal. Tallahassee's rapid growth, including a planned 7-story apartment building with retail space nearby, promises continued value appreciation. This is a rare opportunity to acquire a well-positioned, stable, and growing retail investment in a thriving market. The property's APN is 2125510000010.

Location Insight

City

Tallahassee

County

Leon

State

Florida

Longitude

-84.278

Latitude

30.456

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments