Office•Office Building•For Sale

NE Tallahassee Office Investment Opportunity

1425 Piedmont Drive, Tallahassee, Florida 32308

Sale Price $1,725,000
Sale Type Investment
Zoning OR-3 Office Residential
Bldg Type Multi-Tenant
Class B
Year Built 1993
Stories 3
Cap Rate 7.11%
Vacancy 100%
Gross Bldg 20,912 SqFt
Land Area 1.16 Acres
Net Op Inc $122,663.96
Office Investment Opportunity in prestigious professional office park within Tallahassee's most desirable locations. Building interior is in great condition and has been well maintained during the current owner occupant's tenancy with some floors renovated in 2018. Will provide stable cash flow with great unit sizes. All leases are Full Service. Located along Thomasville Road in the Piedmont Drive office park. Just 2 minutes from I-10 and 5 minutes from Midtown.
  • $1,725,000 | $82.49 PSF
  • Well Below Replacement Cost
  • Average Term is 3.4 Years
  • Below Market Rents | Avg. Rent $15.20 PSF
  • Full Service Lease Structure
  • Current Owner/Occupant on New 5-Year Lease (39% GLA)
  • Desirable Location Along Thomasville Road in NE Tallahassee.
  • Ample Private Parking
2/10/2020 9:40:54 PM 2/19/2020 4:01:44 PM

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