Retail•Street Retail•For Sale

Dollar General Ace Hardware NNN Sale

3802 North Monroe Street, Tallahassee, Florida 32303

Sale Price $3,150,000
Sale Type Net Lease Investment
Zoning Commercial Parkway
Bldg Type Multi-Tenant
Class B
Year Built 2010
Vacancy 100%
Gross Bldg 17,544 SqFt
Land Area 2.8 Acres
NNN investment opportunity in northwest Tallahassee, FL. Property is occupied by Dollar General and Ace Hardware with both tenants having guaranteed leases until 4th quarter 2024 then options to renew. Improvements were developed in 2010 and land included in sale is 2.80 acres zoned commercial parkway The subject is located in the northwest quadrant of Tallahassee, FL on North Monroe Street, a main thoroughfare and gateway to the Capital City. Just 1.5 miles north of Interstate 10 exit 199, this makes the property quite accessible to vehicular travelers driving east/west across the Panhandle. The subject is 15 minutes northwest of the State Capitol, 18 minutes north of Tallahassee International Airport, and 13 minutes northwest of Florida State University.
  • 6.97% cap rate investment in a promising area for growth in Florida's Capital City
  • Dollar General: 9,014 SF, 7 year corporate guaranteed lease remaining, three 5-year options increasing at 10% per renewal period
  • Ace Hardware: 8,530 SF, 7 year guaranteed lease remaining , three 5-year options increasing at 12% per renewal period
3/13/2019 2:24:58 PM 3/13/2019 2:28:27 PM

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