4051 Lagniappe Way, Unit 101 Tallahassee, FL 32317-1201
- Community centers
- 19,740 SF
- 7.69 lot acres
Current Use by Public Records
- Boot Barn / Boot Store / Clothing Store
- Dollar Tree / Kitchen Supply Store / Party Store
Property Details for 4051 Lagniappe Way
- Year built
- 2015
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 7.69 lot acres
- Property size
- 19,740 SF
- Property type
- Community centers
- APN
- 11-27-30-000-004-2
- APU
- 1127300000042
Description
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,505,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,415,000
- 6.5%
- $4,815,000
- 7%
- $4,270,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,055,000
- Geo Method
- $4,080,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,585,000
- Retail
- $5,400,000
- Mixed-Use
- $4,645,000
- Hospitality
- $5,455,000
- Educational
- $5,240,000
- Residential Income
- $5,470,000
- Energy
- $4,205,000
- Income-Based Land
- $5,285,000
- Food Service
- $5,760,000
Location Insight
- Map
- Local Demand
- City
- Tallahassee
- County
- Leon
- State
- Florida
- Longitude
- -84.2152
- Latitude
- 30.4611
- CBSA code
- 45220
- CBSA name
- TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA
