Office Investment Property

Listing was updated at: 12/10/2019
Property Overview
Price/Rent PSF $ 1,095,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 16,197
Date Available 12/10/2019
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Floors 2
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Located at 1713 Mahan Drive (US Hwy 90) , just east of Magnolia Drive in Tallahassee, FL. This professional office building is located on Mahan Drive, near Governor's Square Mall and Capital Circle Northeast and just a quick 3 minute commute to downtown Tallahassee.

Mahan Drive (US Highway 90) is a two-way, four-lane, publicly maintained, asphalt paved roadway with turn lanes, landscaped median, sidewalks, and street lights. There is a full median cut turning access into the site.

Offered for Sale as an investment is 1713 Mahan Drive, a two-story office building containing approximately 17,376 square feet± of gross building area and 16,197 square feet± of net rentable area. The parcel is 1.32 acres with over 330 feet of excellent frontage on Mahan Drive in Tallahassee, FL. The site has over 79 parking spaces.

The building is currently 100% leased for a new 5 year term. The gross rental income is $135,000 annually in year 1 and increases each year at rate of 2% each year. The building is designed for a single tenant or multi-tenant occupancy. The main floor is configured into one office suite that contains a total of approximately 9,532 square feet± of net rentable area. The ground floor is configured into three office suites and contains a total of approximately 6,665 square feet± of net rentable area. There is also an additional 1,175sf +/- of storage space.