2320 Capital NE Cir Tallahassee, FL 32308-8315

Property Details for 2320 Capital NE Cir

Lot size

7.51 lot acres

Property type

Commercial land

APN

11-16-50-000-000-1

APU

1116500000001

Description

This exceptional investment opportunity presents a 1,890-square-foot, Class A, single-tenant retail building in Tallahassee, Florida. Located at 2320 Capital Cir NE, this property boasts a prime location on a busy thoroughfare, near an I-10 interchange, and within a vibrant commercial plaza alongside national brands like Dunkin' Donuts and Smoothie King. The building, constructed in 2024, is currently 100% occupied by HTeaO, a rapidly expanding national chain with over 60 existing stores and significant future growth plans. The tenant is operating under a new 10-year net lease (NNN) agreement, commencing May 1, 2024, and expiring April 14, 2034, providing exceptional lease stability. The lease includes a favorable 3% annual rent increase, ensuring consistent income growth. The property's strong financial performance is reflected in its 5.85% cap rate and a net operating income (NOI) of $123,656. The asking price is $2,114,000, translating to a price per square foot of $1,118.52. This is a turnkey investment, being sold at Certificate of Occupancy (C.O.), offering immediate cash flow and long-term growth potential. The building features a drive-thru, enhancing operational efficiency and revenue generation. This is a rare opportunity to acquire a high-performing, net-leased property anchored by a thriving national tenant in a desirable location.