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6800 Thomasville Rd
Tallahassee, FL 32312

$2,080,000 USD

Restaurant Condo For Sale  •  4,432 SF

Property Details

  • Property Type Restaurant
  • Total Building Size 12,072 SF
  • Lot Size 6.5 AC
  • Building Class B
  • Year Built 1986
  • Tenancy Multiple
  • Zoning BC-2
0 Transit Score
45 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 102 Retail 4,432 SF $2,080,000 USD
  • Unit Size: 4,432 SF
  • Condo Use: Retail
  • Price: $2,080,000 USD
  • Sale Type: Investment
  • Price/SF: $469.31 USD
Description
RIPCO Real Estate is pleased to offer for sale 6800 Thomasville Road, Suite 102, a 4,432 SF commercial condominium located on the westside of Thomasville Road in Tallahassee, FL. The property is part of the Bradfordville Commons, a 10-unit neighborhood center of which the property comprises 15% of the project. The unit is currently being renovated for Cancun’s Sports Bar, a popular Tallahassee sports bar that recently signed a 10-year absolute NNN lease. The lease includes one 10-year option to extend with 15% rental increases in Year 1 and Year 6 of the option period, providing protection against inflation. This stretch of Thomasville Road where the property is located has an AADT of 12,700. Within 3 miles of 6800 Thomasville Road, there is a population of 29,216 and an average household income of $164,478.

The asset would be an attractive investment opportunity for investors looking for minimal landlord responsibilities, a popular local brand, long term lease providing stable cash flow, and located in Florida, a state with no state income tax.

Highlights

The property is currently leased on an Absolute NNN lease, requiring minimal landlord responsibilities, with 10 years of term remaining
The lease includes one 10-year option to extend with 15% rental increases in Year 1 and Year 6 of the option period
The property is located in Florida, a state with no state income tax
The asset is located on the westside of Thomasville Road in Tallahassee, FL with an AADT of 12,700
Located across the street from Publix-anchored Bradfordville Center and a 124,000 SF Target
Strong local operator with multiple successful concepts

Amenities

  • Dedicated Turn Lane

Public Transportation

AirportDriveWalkDistance
Tallahassee International 27 min - 18.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 50
Type: Surface
Included in Rent: Yes
Joe Simpson 904-378-6228 Ripco Real Estate
Joe Simpson 904-378-6228 Ripco Real Estate