Marcus & Millichap Brokers Sale Of Retail Center Anchored By REI In Tallahassee For $26.78M
1471 Timberlane Road
$26,780,000
$330/SF
Building Size
81,082 SF
Asset Type
Retail
Closing
Apr 15, 2025
About this deal
AI
The retail asset located at 1471 Timberlane Road in Tallahassee has been sold for $26,780,000. This property encompasses 81,082 square feet, equating to a price per square foot of $330. The retail center is anchored by REI and features tenants such as Sanitas Medical Center and Connors Steak & Seafood.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $26,780,000
- Square Footage: 81,082
- Price Per Square Foot: $330
- Address: 1471 Timberlane Road
- Market: Tallahassee
The transaction was facilitated by brokers Alvin Mansour and Jonathan Talia from Marcus & Millichap, who represented the deal. The negotiation led to the sale of Market Square, highlighting the involvement of these key individuals in the successful closing of this retail property.
On the Map
$26,780,000
$330/SF
Retail
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Tallahassee Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93