该房产将于9月11日(星期二)至9月13日(星期四)拍卖。所显示的价格是250,000美元的起始标价。有关信息,并登记投标,请访问TEN-X.com。
Mahan Station (the Property) is a ±29,576 SF, office building located at 1709 & 1711 Mahan Drive in Tallahassee, Florida. The Property offers investors an opportunity to purchase at a significant discount with a huge value add opportunity for redevelopment and re-use.
Originally built in 1986, Mahan Station is situated on a ±2.24 acre parcel and contains a pair of two-story office buildings with a central covered breezeway between both buildings and parking ratio of ±4.0 per 1,000 SF. The site provides frontage on Mahan Drive, the primary commercial corridor in Tallahassee with direct access to the Florida State Capitol and Capital Circle.
The Tallahassee office market has improved over the past few years, with a vacancy rate less than half the national average. Demand has greatly outpaced new deliveries throughout the cycle, driving the vacancy rate well below its historical average. Supply additions have been minimal since 2010, and that trend has continued throughout 2018. About 150,000 SF of new product came on line in the past 18 months, while only a handful of smaller properties are currently under construction. Moving through 2018, investment activity has been strong, with both sales volume and price per SF projected to increase for the third straight year.
As the capital of the Sunshine State, Tallahassee has a large government presence. The State of Florida employs more than 19,000 people, and government jobs account for roughly one-half of employment in Tallahassee. However, the metro is also known for education, as the home of Florida State University and Florida A&M. These institutions serve as a base to more than 40,000 students and more than 8,000 school employees. This property will be auctioned on Monday, October 1 - Wednesday, October 3 . The price displayed is the starting bid amount of $250,000. For information and to register to bid on this property, please visit Ten-X.com.