140 Capital SW Cir, Tallahassee, FL 32304-3563
- Drug stores
- 14,505 SF
- 1.72 lot acres
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens Pharmacy / Pharmacy
- Walgreens / Pharmacy
- Coinhub Bitcoin ATM Teller / Atm
- LibertyX Bitcoin ATM / Atm
Property Details for 140 Capital SW Cir
- Year built
- 2007
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.72 lot acres
- Property type
- Drug stores
- APN
- 21-30-20-002-001-0
- APU
- 2130200020010
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 29, 2025 | $4,568,100 | Jk Nelson Tallahassee LLC | Cp Thunder Fs LLC | Special Warranty Deed | — |
| Sep 6, 2022 | — | Walgreen Co | Cp Thunder Fs LLC | Lease | — |
| Sep 6, 2022 | $5,943,300 | Cp Thunder Fs LLC | Walgreen Co | Special Warranty Deed | $241.5M · Wells Fargo Bank NA |
| Aug 13, 2007 | $4,554,800 | Walgreen Co | Bcm LLC | Grant Deed | — |
| May 12, 2006 | $1,900,000 | Bcm LLC | West Tennessee LLC | Warranty Deed | $1.9M · Whitney National Bank |
| Aug 20, 2004 | — | State Of Florida Dept/transportat | West Tennessee LLC | Warranty Deed · related | — |
| — | — | Applejam INC | — | Deed Of Trust · related | $2M · Bank Of America |
| — | — | West Tennessee LLC | — | Deed Of Trust · related | $1.3M · Doreen Swank |
Description
This exceptional investment opportunity presents a fee-simple, 14,751 square-foot Walgreens located at 140 Capital Cir SW, Tallahassee, FL 32304. The property boasts a 13-year absolute NNN lease with Walgreens (NYSE: WBA), commencing September 1, 2022, and expiring August 31, 2035, leaving approximately 10.8 years remaining. The lease includes twelve five-year renewal options, with attractive 5% rent bumps every five years. Situated on a 1.72-acre lot, this single-story, 1983-built building features a drive-thru pharmacy and benefits from exceptional visibility on a hard-signalized corner, experiencing traffic exceeding 55,500 vehicles daily. The property's prime location within a dense retail corridor, alongside national tenants such as Walmart, McDonald's, Ross Dress for Less, and others, ensures consistent high traffic and strong tenant performance. The property generates a Net Operating Income (NOI) of $340,860, representing a 6.50% cap rate and a price per square foot of $355.77. The asking price is $5,248,000. This strategically located asset offers significant long-term value, enhanced by its proximity to Florida State University and downtown Tallahassee, within a no-income-tax state. The corporate guarantee from Walgreens provides significant security and stability for this investment. The property's fee-simple ownership allows for depreciation benefits.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $4,748,000
Market price range: $1.70M - $4.75M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $3,090,000 Current use
- COMMERCIAL (GENERAL)
- $5,360,000 Change: +74% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $4,090,000 Change: +32% Conversion: Moderate
- INDUSTRIAL (GENERAL)
- $3,420,000 Change: +11% Conversion: Difficult
- RESTAURANT
- $3,285,000 Change: +6% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.3617
- Latitude
- 30.458
- CBSA code
- 45220
- CBSA name
- TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
