2881 Park AveTallahassee, FL 32301

Property Details for 2881 Park Ave

Year built

2012

Construction

WOOD

Lot size

0.95 AC

Property size (Sq ft)

8,750 SF

Property type

Office buildings

APN

11-33-20-413-000-0

APU

1133204130000

Description

This exceptional investment opportunity presents a fee-simple ownership of an 8,750-square-foot childcare facility in Tallahassee, Florida. Located at 2881 E Park Ave, this property boasts a prime location within Leon County (zip code 32301), situated on a 0.95-acre lot. The building, constructed in 2012, operates under a corporate-guaranteed Absolute NNN lease with Childcare Network, a significant national player with over 240 schools. The lease, originally commencing June 30, 2012, has a remaining term of 7.6 years, extending to June 29, 2032, with two 5-year options. Rent escalations are built-in, with a maximum increase of 6% or CPI, whichever is greater, every three years. The property currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $135,740, resulting in a compelling 6.50% cap rate. The asking price is $2,088,000. This is a rare opportunity to acquire a stable, high-performing asset in a growing market, benefiting from the presence of several colleges and universities, including Florida State University, and a population exceeding 135,000 residents within a 5-mile radius. The property is zoned for commercial use.

• CAP approach

  CAP return

  Valuation

  6%

  $1,811,300

  6.5%

  $1,671,969

  7%

  $1,552,543

• Comparable approach

  Method

  Valuation

  Relative Method

  $622,038

  Geo Method

  $622,038

• Alternative Use

  Use

  Valuation

  Residential

  $2,073,242

  Hospitality

  $1,899,078

  Educational

  $1,580,011

  Medical

  $1,634,350

  Retail

  $2,457,794

Location Insight

City

Tallahassee

County

Leon

State

Florida

Latitude

30.4409

Longitude

-84.2296

CBSA code

45220

CBSA name

TALLAHASSEE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].