1719 West Tennessee Street, Tallahassee, FL, USA

Tallahassee, Florida

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Total Square Feet

±7,128 SF

Asking Price

$3,941,630

NOI

$275,914

Cap Rate

7.00%

Blended Cap Rate

7.43%

6.7 Years remaining on an absolute NNN lease with three 5-year options to extend. Initial term and option periods include +2% annual rental increases, increasing cash flow and hedging against inflation
Long-term absolute NNN lease provides an attractive management-free investment located in a state with no state income tax
The tenant for the lease (Green Ops FL Opco LLC) is associated with all 12 of their Florida locations
The lease is additionally guaranteed by Green Ops Ocala LLC which is the entity that is associated with Jungle Boys’ grow facility in Ocala, FL, providing additional security for the lease
The property is located 0.25 miles from Florida State University, one of the largest universities in the Southeast United States with over 40,000 students enrolled
30,121 population within a 1-mile radius