Student Housing
Theta Chi Fraternity - Master Lease
429 W Park Ave, Tallahassee, FL 32301
Listing Price: $2,500,000
Cap Rate
5.38%
Number of Units
24
Occupancy
100.0%
Price/Unit
$104,167
Price/Gross SF
$157.35
Gross SF
15,888
Investment Overview
Mast lease with Theta Chi Fraternity as single-tenant. Prime location between FSU Campus and Downtown Tallahassee.
Theta Chi Fraternity - Master Lease
Investment Highlights
- Master Lease With Theta Chi Fraternity as Single Tenant – 3% Annual Rent Increases
- Tenant has Three 2 Year Lease Renewal Options
- Tenant Pays for Utilities, Trash Removal, and Landscaping
- Prime Location Between FSU Campus and Downtown Tallahassee
- Vacant Land on Southern Parcel Currently Used for Subject Property Parking
- Adjacent to Onyx, a 574-bedroom Class-A Apartment Complex and The Edge at 401, a 40-Unit 1970's Vintage Multifamily Property
- 5-Minute Walk to FSU Campus Located two Blocks West of Subject
- Florida State is the Oldest, Continuous Site of Higher Education in Florida
Exclusively Listed By
Financing By
Listing Price: $2,500,000
Cap Rate
5.38%
Number of Units
24
Occupancy
100.0%
Price/Unit
$104,167
Price/Gross SF
$157.35
Gross SF
15,888
Investment Highlights
- Master Lease With Theta Chi Fraternity as Single Tenant – 3% Annual Rent Increases
- Tenant has Three 2 Year Lease Renewal Options
- Tenant Pays for Utilities, Trash Removal, and Landscaping
- Prime Location Between FSU Campus and Downtown Tallahassee
- Vacant Land on Southern Parcel Currently Used for Subject Property Parking
- Adjacent to Onyx, a 574-bedroom Class-A Apartment Complex and The Edge at 401, a 40-Unit 1970's Vintage Multifamily Property
- 5-Minute Walk to FSU Campus Located two Blocks West of Subject
- Florida State is the Oldest, Continuous Site of Higher Education in Florida
Investment Overview
Mast lease with Theta Chi Fraternity as single-tenant. Prime location between FSU Campus and Downtown Tallahassee.
Exclusively Listed By
Financing By
