Land Available For Lease @ 324 N Adams St

The property is an impervious ½ city block of land primed for redevelopment, located in between Midtown and Downtown Tallahassee and 3 blocks south of the Florida Governor's Mansion. The site in total measures 1.02 acres and is zoned Central Core which allows a maximum density of 150 dwelling units per acre. The 9,078 SF structure on site is currently leased to a charter school who recently exercised a 3 year lease extension. Property is generating a year 1 net operating income of $101,846 with 3% annual increases. The lease contains a clause that allows landlord to terminate the lease with 180 day written notice to the tenant. This sets the table for a developer to obtain their permits while realizing a substantial cash flow to help fund their pending project. This space offers accomodations for: multifamily.