231 Palmer Ave Tallahassee, FL 32301-5533

This exceptional investment opportunity presents a 26,000-square-foot multi-tenant industrial property in downtown Tallahassee, Florida, boasting a remarkable 8.82% cap rate and 100% occupancy. Situated on a 1.66-acre lot at 231 E Palmer Ave, this fee-simple property offers a compelling blend of strong cash flow and long-term growth potential. The property is currently leased to three tenants, providing a stable income stream with a weighted average lease term of approximately 5.28 years. Recent tenant improvements exceeding $425,000 demonstrate a strong commitment to the location. Its prime location in the Tallahassee/Leon County Multimodal Transportation District Plan, nestled between Florida A&M University and the Capital City Country Club, ensures high visibility and accessibility. Furthermore, its designation within an Opportunity Zone provides significant tax advantages for long-term investors. The property's classification as both flex and manufacturing space caters to a diverse range of potential tenants, enhancing its overall value and marketability. This is a rare chance to acquire a high-performing industrial asset in a thriving urban area. The asking price is $1,975,000, translating to $75.96 per square foot. The property's strategic location along a major arterial road connecting downtown Tallahassee to Interstate 10 guarantees high traffic volume.