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3197 Merchants Row Blvd
Tallahassee, FL 32311 Southwood

$5,990,000 USD

Department Store For Sale  •  32,590 SF

Property Details

• Property Type Department Store
• Total Building Size 32,590 SF
• Lot Size 1.24 AC
• Building Class B
• Year Built 2005
• Cap Rate 6.81 %
• Tenancy Multiple
• Zoning PUD

18 Transit Score

27 Walk Score

Highlights

The Asset: Southwood Town Center is a Multi-Tenant Retailer Center, Comprised of Two (2) Buildings With 32,590 SF of Leasable Space

Scheduled Rent Increases: Five of the Leases Provide Scheduled Rent Increases Throughout the Primary Lease Term or at the Start of the Renewal Options

Net Leases: All the Tenants Have Net Leases and Are Responsible For Reimbursing Their Pro-Rata Share of All Operating Expenses

Strong University Presence: Tallahassee is Home to Florida State University (FSU), Florida A&M University (FAMU), and Tallahassee State College

Area Economic Drivers: The Economy of Tallahassee is Centered Around Government, Education, Healthcare, and Technology

Strong Demographics: Approximately 23,900 People Live Within 3-Miles of the Property With an Average HHI of $96,307

Cap Rate:

6.81 %

Major Tenants

Tenant	SF Occupied	Lease End Date
CANOPY ROADS CAFÉ	2,456 SF	2/1/2030
EL JALISCO MEXICAN RESTAURANT	3,644 SF	9/1/2026
GOVERNMENTAL MGMT SERVICES	288 SF
MANAGEMENT COMPANY	1,075 SF
NAUMANN GROUP REAL ESTAT	1,200 SF	9/30/2025
PARKWAY BAPTIST CHURCH	5,412 SF	9/20/2029
SOUTHWOOD SWEETS	2,078 SF
SUBWAY	1,428 SF	1/1/2030
TC FITNESS	12,275 SF	12/1/2025
TWINKLE TOES NAIL SALON	1,356 SF	6/30/2026

Amenities

• Dedicated Turn Lane

Public Transportation

Airport	Drive	Walk	Distance
Tallahassee International	18 min	-	9.7 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	220
Type:	Surface
Included in Rent:	Yes