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Property profile & analytics
OFF-MARKET Estimated value $4,430,000
Community centers

4051 Lagniappe Way 101 Tallahassee, FL 32317-1201

19,740 SF 7.69 ac lot Built 2015
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US18-7762719
Property summary
AI-generated overview

Exceptional opportunity to acquire a prime 20,000 square foot commercial land parcel situated within the thriving Fallschase Village Center in Northeast Tallahassee, Florida. This single-tenant pad site boasts exceptional visibility on Lagniappe Way, strategically positioned between a Dollar Tree and Walmart. The property benefits from its location within a high-traffic retail corridor, boasting an impressive 38,000 AADT (Average Annual Daily Traffic) at the Lagniappe Way and Mahan Drive intersection. Existing tenants in the plaza include well-established national retailers such as Boot Barn, Bass Pro Shops, and Costco, ensuring a strong and diverse tenant mix. Further enhancing the location's appeal are nearby CMX Cinemas, Academy Sports, Burger King, Subway, McDonald's, Applebees, and a Patients First Walk-In Clinic, along with numerous other national and local businesses and professional services. The surrounding area is also characterized by a significant concentration of high-end apartment complexes and single-family homes, providing a substantial residential base for the retail center. This property is zoned for retail development and offers the flexibility of a ground lease or build-to-suit option, catering to a variety of development scenarios. The site is fully entitled for the construction of up to 20,000 square feet of retail space. This presents a rare opportunity to establish a presence in a highly desirable and rapidly growing retail market. Located in Leon County, Florida, with the address 4051 Lagniappe Way, Tallahassee, FL 32317.

Property profile
Verified
Property type Community centers
Use group MINI-MALL
Year built 2015
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 19,740 SF
Lot 7.69 ac (334,976 SF)
APN 11-27-30-000-004-2
UPID US18-7762719
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Boot Barn Clothing & Fashion Store
  • Dollar Tree Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$4.42M
CAP Approach CAP
$3.47M
Comparable Approach Comparable
$5.47M
Blend (final) Blend
$4.43M
Owner & transaction history
Sash Fallschase LLC · 3 yrs held
Sash Fallschase LLC
since 2023
Last sale
$4.4M
6 recorded transactions
2023
$4.4M
2018
$4.3M
2017
Price N/A
2014
Price N/A
2014
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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