Multi-Family
Power 5 Student Housing Development Site
1819 W Pensacola St, Tallahassee, FL 32304
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present to qualified developers, the Power 5 Student Housing Development Site. This development site consists of 3.75 +/- acres and boasts the favorable University Transition zoning (50 units/acre). The Power 5 Student Housing Development Site is located 0.3 miles west of Florida State University and Florida State University's Doak Campbell Stadium. Within 0.6 miles to the West and north of the Power 5 Student Development Site lies the WestEnd Square and Ocala Corners Shopping Centers, which offer more than 15 dining options and retail centers, supermarkets, gyms, and drug stores. Additionally, The Power 5 Student Housing Development Site offers future tenants the luxury to walk to class on campus, and more specifically, the colleges located on the west side of campus which makes up for more than 44% of the student/athlete body. Currently, this development site is home to Villa Capri Apartments and an assemblage of duplexes, all generating income for an investor to collect during the approval process to break ground on new construction.
Power 5 Student Housing Development Site
Investment Highlights
- 3.75-acre "Covered" Land Site, Optimal For Class-a Student Housing Development
- In-Place University Transitional Zoning Allows For Up To 187 Units To Be Built On The Site
- The Existing 60-unit Student Housing Asset (Villa Capri And Duplexes) Located On The Site, Generates An Annual Net Operating Income Of Roughly $200,000
- Pedestrian Location Just Two Blocks From Florida State University And Doak Campbell Stadium – Home To The FSU Seminoles Football Team
- Ability To Cater Directly To The Florida State Student Body, Which Boasts An Enrollment Of 43,234
- Close Proximity To Many National Retailers Such As Publix And Starbucks, As Well Student Favorites Such As Gordo's Cuban Cuisine, Roboto Tokyo Gril, And Hobbit Sports Bar
Exclusively Listed By
Financing By
Investment Highlights
- 3.75-acre "Covered" Land Site, Optimal For Class-a Student Housing Development
- In-Place University Transitional Zoning Allows For Up To 187 Units To Be Built On The Site
- The Existing 60-unit Student Housing Asset (Villa Capri And Duplexes) Located On The Site, Generates An Annual Net Operating Income Of Roughly $200,000
- Pedestrian Location Just Two Blocks From Florida State University And Doak Campbell Stadium – Home To The FSU Seminoles Football Team
- Ability To Cater Directly To The Florida State Student Body, Which Boasts An Enrollment Of 43,234
- Close Proximity To Many National Retailers Such As Publix And Starbucks, As Well Student Favorites Such As Gordo's Cuban Cuisine, Roboto Tokyo Gril, And Hobbit Sports Bar
Investment Overview
Marcus & Millichap is pleased to present to qualified developers, the Power 5 Student Housing Development Site. This development site consists of 3.75 +/- acres and boasts the favorable University Transition zoning (50 units/acre). The Power 5 Student Housing Development Site is located 0.3 miles west of Florida State University and Florida State University's Doak Campbell Stadium. Within 0.6 miles to the West and north of the Power 5 Student Development Site lies the WestEnd Square and Ocala Corners Shopping Centers, which offer more than 15 dining options and retail centers, supermarkets, gyms, and drug stores. Additionally, The Power 5 Student Housing Development Site offers future tenants the luxury to walk to class on campus, and more specifically, the colleges located on the west side of campus which makes up for more than 44% of the student/athlete body. Currently, this development site is home to Villa Capri Apartments and an assemblage of duplexes, all generating income for an investor to collect during the approval process to break ground on new construction.
Exclusively Listed By
Financing By
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