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Jungle Boys Cannabis Dispensary 1719 W Tennessee St 7,128 sq ft Retail Property Tallahassee, FL 32304 £2,985,405 (£418.83/sq ft) 7% Net Initial Yield
Executive Summary
RIPCO Real Estate is pleased to offer for sale 1719 W Tennessee Street, a 7,128 SF commercial property located on the southside of W Tennessee Street in Tallahassee,
FL. Jungle Boys Cannabis Dispensary signed a 10-year, absolute NNN lease in 2022 which included a full renovation and annual rental increases. The property is located
in the most densely populated area in North Florida, with over 30,121 people within 1 mile of the site and just 0.25 miles from Florida State University with over 40,000
students enrolled. Nearly 4% of Florida’s total population are medical marijuana patients, making Florida the state with the highest number of medical marijuana patients
in the country for states tracking patient registry. This stretch of W Tennessee Street where the property is located has an AADT of 38,500. Within 3 miles of 1719 W
Tennessee Street, there is a population of 104,648 and an average household income of $59,528.
The asset would be an attractive investment opportunity for investors looking for no landlord responsibilities, a newly-renovated commercial property, occupied by a
tenant with strong dedication to the location, and located 0.25 miles from Florida State University, one of the largest universities in the Southeast United States.
FL. Jungle Boys Cannabis Dispensary signed a 10-year, absolute NNN lease in 2022 which included a full renovation and annual rental increases. The property is located
in the most densely populated area in North Florida, with over 30,121 people within 1 mile of the site and just 0.25 miles from Florida State University with over 40,000
students enrolled. Nearly 4% of Florida’s total population are medical marijuana patients, making Florida the state with the highest number of medical marijuana patients
in the country for states tracking patient registry. This stretch of W Tennessee Street where the property is located has an AADT of 38,500. Within 3 miles of 1719 W
Tennessee Street, there is a population of 104,648 and an average household income of $59,528.
The asset would be an attractive investment opportunity for investors looking for no landlord responsibilities, a newly-renovated commercial property, occupied by a
tenant with strong dedication to the location, and located 0.25 miles from Florida State University, one of the largest universities in the Southeast United States.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Size
7,128 sq ft
Costar Property Class
B
Year Built
1976
Price
£2,985,405
Price per sq ft
£418.83
Yield
7%
NOI
£208,978
Tenancy
Single
Number of Floors
1
Plot ratio
0.36
Total Plot Size
0.46 ac
Opportunity Zone
Yes
Use Class
CP - Commercial Parkway
Parking
35 Spaces (4.91 Spaces per 1,000 sq ft Leased)
Frontage
Amenities
- Pylon Sign
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 21-35-20-209-000.0 | Improvements Assessment | £942,469 |
| Land Assessment | £322,509 | Total Assessment | £1,264,978 |
Property Taxes
Parcel Number
21-35-20-209-000.0
Land Assessment
£322,509
Improvements Assessment
£942,469
Total Assessment
£1,264,978
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Jungle Boys Cannabis Dispensary | 1719 W Tennessee St
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