1350 Mahan DrTallahassee, FL 32308

Property Details for 1350 Mahan Dr

Year built

2024

Property size (Sq ft)

29,055 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity encompasses Mahan Plaza, a fully occupied, 18-unit retail center totaling 29,055 square feet, and a 705-square-foot outparcel in Tallahassee, Florida. The property boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $566,800, and a 6.50% cap rate. The asking price is $8,720,000, translating to $300.12 per square foot. The plaza, renovated in 2023, features modern amenities and is strategically located on a busy Tallahassee thoroughfare, minutes from an I-10 interchange, ensuring high visibility and accessibility. The outparcel, constructed in 2024, is leased to a credit-rated franchisee of a well-established national brand, Red Owl Coffee, under a new 10-year NNN lease. The property consists of two single-story buildings and includes 17 units within the shopping center, in addition to the Red Owl Coffee location. This portfolio sale presents a compelling investment opportunity in Tallahassee's thriving commercial market, offering stable income and significant long-term potential. The property is situated at 1350 Mahan Dr, Tallahassee, FL 32308, within Leon County. The sale is offered by the owner.

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4488

Longitude

-84.2606

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