Sale Brochure (L)...Retail Property FOR SALE 950 WEST THARPE Premier Commercial Group // 4708...

TRACY [email protected]

Tallahassee, FL 32303

Retail Property

FOR SALE

950WESTTHARPE

Premier Commercial Group // 4708 Capital Circle NW, Tallahassee, FL 32303 // 850.933.5899 buildout.com



Sale Price: $1,190,000

Building Size: 5,000 SF

Price / SF: $238.00

Cap Rate: Based On Today Rent, 6.73%.over 7 cap if using

average overlease

NOI: $80,055.96

OFFERING SUMMARY PROPERTY OVERVIEWThis center benefits from heavy traffic generating around 28,500 cars per day on West Tharpe Stand an additional 18,000 cars per day on Old Bainbridge Rd- In front of large retail shopping center.

This project is located in the Capital of Florida which has a population of 147,255 within a 5-Mile radius and this site isless than 2 miles from Florida State University & Florida A&M University(58,110+ combined enrollment).

One National and one Regional tenant, all tenants with 3% annual increases- Next to Family Dollar

In addition to the universities, there is 1 elementary, 1 middle, and 1 high school. a much older building with a similarlease just traded for a 7.4 cap at 360 W Tharpe as of 4/1/2020.

PROPERTY HIGHLIGHTS• • 100% Leased Retail Center

• • Long-Term Leases in Place with Strong Increases in Initial Terms

• • New Construction with long-term NNN lease, predictable cash flow

• • Next door there is a proposed 8,000 sf multi tenant retail building, showing continued growth for the area.

• 40,000 SF of development purposed around this intersection

FOR SALE // Retail Property

950 WEST THARPE 850.933.5899




950 WEST THARPE 850.933.5899



POPULATION 1 MILE 3 MILES 5 MILES

Total population 15,745 98,543 168,181

Median age 25.6 26.5 29.1

Median age (Male) 26.3 26.7 28.6

Median age (Female) 24.6 26.3 29.5

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 6,287 38,968 69,451

# of persons per HH 2.5 2.5 2.4

Average HH income $36,967 $41,115 $48,660

Average house value $183,475 $219,480 $218,085

* Demographic data derived from 2010 US Census


950 WEST THARPE 850.933.5899



All materials and information received or derived from Premier Commercial Group its directors, officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements,developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Premier Commercial Group its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of theany materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for aparty’s active conduct of its own due diligence to determine these and other matters of significance to such party. Premier Commercial Group will not investigate or verify any suchmatters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. Premier Commercial Group makes no warranties and/or representations regarding the veracity, completeness, or relevanceof any financial data or assumptions. Premier Commercial Group does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptionsregarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rentsthat may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmentallimitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirementsshould be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by PremierCommercial Group in compliance with all applicable fair housing and equal opportunity laws.


950 WEST THARPE 850.933.5899

Sale Brochure (L)...Retail Property FOR SALE 950 WEST THARPE Premier Commercial Group // 4708...

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