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Oxford Commons, Tallahassee, FL

Oxford Commons

FL, United States

Price $3,845,000
Cap Rate
NOI
Lease Term Various
Lease Type
Rental Increases Various
Year Built Q3 2016
Building Size 8,676 SF
Lot Size 1.56 Acres (67,954 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED MULTI-TENANT SHOPPING CENTER
» 100% leased to strong national and regional tenants
» Scheduled rental increases, providing a hedge against inflation
» Multi-tenant shopping center offers investment diversification

HIGH-TRAFFIC LOCATION NEAR MAJOR RETAILERS
» Excellent visibility and access to 46,443 vehicles per day on Thomasville Road
» Close proximity to national retailers, including Walmart Supercenter, Starbucks, Target, CVS, Publix, Stein Mart, T.J. Maxx, Trader Joe’s, and many others
» Thomasville Road is a central route through northern Tallahassee and provides convenient access to downtown Tallahassee

AFFLUENT TALLAHASSEE LOCATION WITH ROBUST DEMOGRAPHICS
» Affluent area, with average household income over $118,000
» Near major housing development with award-winning golf course
» Less than eight miles from downtown Tallahassee

CLOSE PROXIMITY TO MAJOR UNIVERSITIES
» Just over eight miles from Florida State University (41,867 students) and Florida A&M University (10,000 students)
» Florida State and Florida A&M are two of the largest employers in Tallahassee

HIGH QUALITY 2016 CONSTRUCTION
» High quality construction completed in Q3 2016
» Brand new building, limiting near-term deferred maintenance or capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located on Thomasville Road, just south of the signalized intersection of Thomasville Road and Kerry Forest Parkway, with excellent visibility and access to 46,443 vehicles per day. Thomasville Road is a major thoroughfare through northern Tallahassee. The road intersects with Interstate 10 approximately six miles south of the property and provides access to downtown Tallahassee. The property is located in a thriving retail cluster, with a number of notable nation tenants near the site. Walmart Supercenter is within walking distance of the property, while CVS, Starbucks, and ABC Fine Wine & Spirits are directly adjacent to the site. The Northampton Shopping Center, located around the corner from the property, features a mix of local, regional, and national retailers, including Pizza Hut, Sherwin-Williams Paint Store, and The UPS Store. Other major tenants in the surrounding area include Target, Publix, Walgreens, Ace Hardware, Stein Mart, HomeGoods, Hobby Lobby, T.J. Maxx, and Trader Joe’s.

The property benefits from its prime location in an affluent area of Tallahassee. The property is located next to Killearn Estates, a 4,000-acre housing development featuring approximately 3,800 homes and abundant amenities, including Killearn Country Club, which has been recognized as one of the finest private clubs in Leon County. Average household incomes in the area exceed $100,000 in one-, three-, and five-mile radii.

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