3400 Monroe StTallahassee, FL 32301

Property Details for 3400 Monroe St

Year built

1975

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.53 AC

Property size (Sq ft)

2,028 SF

Property type

Retail properties

Property subtype

Banks

APN

41-13-20-001-000-0

APU

4113200010000

Description

This prestigious, freestanding retail building in Tallahassee, Florida, presents a unique investment opportunity. Located on a 1.53-acre lot at a signalized intersection on the corner of S. Monroe St and S. Adams St, this property offers exceptional visibility and accessibility. The 2,028 square foot building is zoned C-2, allowing for a multitude of business uses, including QSR/Fast Food and Pharmacy/Drug stores. A significant feature is the inclusion of a 778 square foot canopy covering three drive-thru lanes, adding considerable operational flexibility. The building's strategic location near Florida A&M University (FAMU) and Florida State University (FSU), along with its proximity to the Leon County Fair Grounds and Gene Cox Stadium, ensures high foot and vehicle traffic. The asking price is $895,000, translating to $441.32 per square foot. The property includes the main building and the drive-thru canopy, totaling approximately 2,806 square feet. Note that a two-year financial deed restriction will be in place upon sale. The APN is 4113200010000. This property is ideal for investors seeking a high-return, versatile commercial space in a thriving Tallahassee location.

• CAP approach

  CAP return

  Valuation

  6%

  $617,117

  6.5%

  $569,646

  7%

  $528,958

• Comparable approach

  Method

  Valuation

  Relative Method

  $363,310

  Geo Method

  $363,310

• Alternative Use

  Use

  Valuation

  Residential

  $480,518

  Hospitality

  $440,152

  Educational

  $366,201

  Medical

  $378,796

  Retail

  $569,646

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4048

Longitude

-84.2813

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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