501 Tennessee StTallahassee, FL 32308

Property Details for 501 Tennessee St

Year built

1940

Lot size

0.45 AC

Property size (Sq ft)

8,166 SF

Property type

Office properties

Description

This exceptional investment opportunity presents a well-maintained, multi-tenant office building located at 501 E Tennessee St, Tallahassee, Florida. The property, built in 1940 and renovated in 1988, encompasses 8,166 square feet of net rentable space, distributed across five individual units within a single, two-story building. Currently operating at 100% occupancy, the building generates a substantial net operating income (NOI) of $76,628, yielding a 5.47% cap rate. The asking price is $1,400,000, translating to $171.44 per square foot. Situated on a 0.45-acre lot, the property benefits from ample parking and a highly visible corner location. The CU-45 zoning allows for a variety of commercial uses. This centrally located asset presents a compelling opportunity for both investors seeking strong returns and owner-users looking for a well-established presence in Tallahassee's thriving commercial market. The property's history, combined with its modern functionality and excellent location, makes it a truly unique investment prospect. The Leon County property features a convenient address and is easily accessible. The APN is 11-31-78-000-001.0.

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4445

Longitude

-84.2768

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