OPPORTUNITY ZONE REDEVELOPMENT SITE!

2633 West Tennessee Street Tallahassee, FL 32304

2633 West Tennessee Street, Tallahassee, FL, 32304
2633 West Tennessee Street, Tallahassee, FL, 32304 2633 West Tennessee Street, Tallahassee, FL, 32304 2633 West Tennessee Street, Tallahassee, FL, 32304 2633 West Tennessee Street, Tallahassee, FL, 32304
FOR SALE
Property Type:
Other Land
Amount:
$1,050,000
Last Verified:
May 20, 2024

Highlights

  • Fully permitted drive thru & retail space
  • Nearly an acre of land (.99)
  • Located in a vibrant college town with three large colleges
  • 300 feet frontage on US Highway 90/West Tennessee Street
  • Redevelopment parcel - motel is obsolete
  • Traffic Count 41,500 vehicles per day

Description

Opportunity Zone! West Tennessee Street is a redevelopment hot-bed. Since 2021, this 2-mile stretch has
has turned over fifteen properties for development or redevelopment. Sales have ranged from $600,000 for
vacant acre to a $14 million dollars 2017-built multi-family student complex. This property, located in an Opportunity
Zone, returns to the marketplace during a dynamic redevelopment period in this student zone.

The parcel is located within a quarter of mile from Tallahassee Community College with over fifteen thousand students,
in an area with more than 4500 student beds with walking distance. There are 4 banks, 5 pharmacies, several new
Car dealerships, including Tesla and Kia and an Acura expansion along this corridor. It is ripe for redevelopment.
There is one restaurant. FDOT Traffic County 36,500/day

Opportunity Zone! Tallahassee's West Tennessee Street area is a redevelopment hot-bed. Since 2021, this 2-mile stretch has
has turned over fifteen recently developed or redeveloped properties. Sales have ranged from $600,000 for
vacant acre to a $14 million dollar, 2017-built, multi-family student complex. This property, located in an Opportunity
Zone, returns to the marketplace during a dynamic redevelopment period in this student zone.

The parcel is located within a quarter of mile of Tallahassee State College (new emphasis on 4 year degrees) with over fifteen thousand students, in an area with more than 4500 student-beds within walking distance. There are 4 banks, 5 pharmacies, several new car dealerships, including Tesla and Kia, as well as an Acura brand expansion along this corridor. It is ripe for redevelopment. There is one restaurant within a mile of this location. FDOT Traffic Count: 36,500/day


Year Built: 1952
Building Size: 5267sq ft
Lot Size: 0.99 acres


Documents

Cactus Motel Redevelopment Site

Map of 2633 West Tennessee Street, Tallahassee, FL, 32304

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.