C-Store Cumberland Farms (NNN) Ground Lease
2447 Monroe Street
Tallahassee, FL 32303
Highlights
- New 20-Year absolute NNN lease
- New Cumberland Farms proto-type by EG America
- Guaranteed by EG Retail (America) LLC
- Highway 27 (N. Monroe St.) / Interstate 10 location
- 41,174 VPD on N. Monroe St.
- Signalized Hard Corner Location
- Outparcel to the Centre of Tallahassee
- 2022 Construction
Description
Brand new Cumberland Farms C-Store proto-type south of Interstate 10. This absolute net ground lease is a redevelopment of infill legacy real estate on N. Monroe Street. This out parcel to the Centre of Tallahassee mixed-use mall conversion has never been previously offered for sale. This 3.3-acre ground lease features a 20-year lease with 8% rental increases beginning in year 10.
This 3.3 acre parcel is located at the hard corner of N. Monroe Street and Allen Road and served by a traffic light. Interstate 10 is easily accessible 1 mile north on N. Monroe Street. This parcel is an out parcel to the Centre of Tallahassee which is a former regional mall that has now been redeveloped into a mixed use office and retail center. There is a 20 year ground lease in place with 8% rental increases starting in year 10. This is a unique opportunity to acquire generational real estate.
