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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.

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

Student Housing

Theta Chi Fraternity - Master Lease

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

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