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231 E Palmer Ave

20,728 SF 100% Leased Light Industrial Building Tallahassee, FL 32301 £1,547,017 (£75/SF) 8.82% Net Initial Yield

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Investment Highlights

Downtown Tallahassee.
Opportunity Zone - wont pay taxes on gain if held for 10 years.
South Monroe Street is a main arterial road that connects the southern side of Tallahassee to Downtown and Interstate 10 with high vehicles per day.

Adjacent Florida A&M University & Capital City Country Club.
Planning Area: Southern Strategy & Multi-Modal Transportation District.

Executive Summary

Colliers is pleased to present for sale a multi-tenant industrial property located in downtown Tallahassee, Florida. The Property, 26,000 SF RBA situated on 1.66 acres, is located at 231 E Palmer Avenue, Tallahassee, Florida 32301.
Anchored by the Downtown Community Church, the Property is 100% leased with approximately 6 years WALT. Recently, the church made improvements to the property of more than $425,000 showing their commitment to the site.
Located in the Tallahassee/Leon County Multimodal Transportation District Plan, the Property is well positioned in Downtown Tallahassee directly between FAMU and Capital City Country Club.

Property Facts

Price	£1,547,017	Rentable Building Area	20,728 SF
Price Per SF	£75	Number of Floors	1
Sale Type	Investment	Year Built	1966
Net Initial Yield	8.82%	Parking Ratio	0.55/1,000 SF
Property Type	Light Industrial	No. Dock-High Doors/Loading	2
Property Subtype	Light Manufacturing	Level Access Doors	1
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	0.83 AC

Price	£1,547,017
Price Per SF	£75
Sale Type	Investment
Net Initial Yield	8.82%
Property Type	Light Industrial
Property Subtype	Light Manufacturing
Building Class	C
Lot Size	0.83 AC
Rentable Building Area	20,728 SF
Number of Floors	1
Year Built	1966
Parking Ratio	0.55/1,000 SF
No. Dock-High Doors/Loading	2
Level Access Doors	1
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.