SABAL COURT

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SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Sabal Court in Tallahassee, FL. Sabal Court is a 129-unit multifamily asset comprised of studio, 1x1, 2x1, 2x2, and 3x2 units with a total rentable Sq. Ft. of 119,175. Through a strategic interior/exterior renovation plan, Sabal Court offers investors the ability to increase NOI by 56% after increasing rents by $260 property wide on average. Currently, the property is 89% occupied and roughly 10 units are being held offline for a new buyer to immediately start their renovation plan upon acquisition. Additionally, more than 20% of the units are currently month-to-month, allowing an investor to control how quick they start renovations on those units. Amenities at Sabal Court consist of a laundry facility, playground, open green area, clubhouse, and a swimming pool.

Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours. For questions related to debt financing, please contact a listing broker, as attractive debt quotes have been obtained for this opportunity.

129
UNITS

119,175
SQFT

1967
YEAR BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • PROPERTY ADDRESS: 2125 Jackson Bluff Road, Tallahassee, FL

  • NUMBER OF UNITS: 129 Units

  • RENTABLE SQUARE FOOT: 119,175 SF

  • AVERAGE UNIT SIZE: 924 SF

  • NUMBER OF BUILDINGS: (15)

  • LOT SIZE: 7.11 Acres +/-

  • FINANCING: Free and Clear

PHYSICAL VALUE-ADD OPPORTUNITY THROUGH RENOVATIONS

  • 129-Unit Multifamily Asset Located in the Heart of Tallahassee, FL

  • Ability to Increase NOI by 56% Through a Strategic Interior/Exterior Renovation Plan

  • The Property Boasts a Favorable Unit Mix of 1x1s, 2x1s,2x2s, and 3x2s with a Total Rentable Sq.Ft. of 119,175

  • Amenities include a Clubhouse, Swimming Pool with Tanning Deck, Laundry Facility, Off Street Parking, Open Courtyard Areas, and more.

  • Located Within 10 Minutes of All Tallahassee Attractions and Hotspots

  • Tallahassee is Home to Florida’s Capitol and Three Colleges/Universities, Which Account for More than 65,000+ Students and 16,000+ Employees

DESIREABLE PROXIMITY TO ALL TALLAHASSEE AMENITIES

  • 2-Minutes to the Retail and Restaurants of Pensacola Street

  • 2-Minutes to Ocala Corners Shopping Mall, Including Publix Supermarket

  • 3-Minutes to FSU/FAMU College of Engineering & National High Magnetic Field Lab

  • 3-Minutes to Florida State University (45,130 Students)

  • 3-Minutes to Doak Campbell Stadium (FSU Football)

  • 4-Minutes to Tallahassee Community College (16,242 Students)

  • 4-Minutes to the Retail and Restaurants of Tennessee Street

  • 5-Minutes to Madison Social and the College Town Nightlife Destinations

  • 6-Minutes to the Railroad Square Art District

  • 8-Minutes to Downtown Tallahassee (Florida State Capital)

  • 9-Minutes to Tallahassee International Airport (1,700 Future Jobs from Project Alpha)

  • 10-Minutes to the $150M+ Cascades Mixed-Use Development

TALLAHASSEE: A GROWING MARKET

  • Fastest Growing Economy Per Capita in Florida (U.S. Dept. of Commerce)

  • 8th Largest City in Florida

  • 8.9% Population Growth in 10 Years (US Census Bureau)

  • 11th Most Educated City in the U.S. (Forbes)

  • 33.4% Projected 10-Year Job Growth (Sperlings)

  • Top 75 Real Estate Markets to Watch in 2022 (Buildium)

  • 388,635 Tallahassee MSA 2021 Population Estimate (U.S. Census Bureau)

DEAL TEAM CONTACTS

Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com

Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com

Contact an Agent Listed Above to Schedule Property Tours