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3117 Mahan Dr., Tallahassee, FL, 32308

Checkers
$1,341,463

Key Information

Cap Rate
6.15%
$ per SF
$1,407
Tot. SF
953
Lot Size
0.32 Acres
Year Built
2016
Term Remaining
± 9 YRS
Type
Retail
NOI
$82,500

Highlights

  • National Renowned Brand: Checkers Drive-In Restaurants is a nationally renowned quick-service brand that has been serving customers for nearly four decades. Since its founding in 1986, the company has grown to approximately 800 locations across 30+ states, operating under both the Checkers and Rally’s banners.
  • Absolute NNN Lease: The tenant is responsible for all expenses providing an investor with passive income and no landlord responsibilities.
  • Synergistic Retail: The asset benefits from its placement within a dense retail corridor featuring a strong mix of national tenants, including Costco, Publix, Walmart, Academy Sports + Outdoors, Bass Pro Shops, Boot Barn, Starbucks, Dunkin’, Jersey Mike’s, Applebee’s, Wells Fargo Take 5 Oil Change, Circle K, and AT&T to name a few.
  • Attractive Fundamentals: The property benefits from being situated at a signalized corner along Mahan Drive, which sees approximately ±38,500 vehicles per day. Additionally, the surrounding trade area includes ±141,725 residents and ±56,944 households within a 5-mile radius, supporting consistent consumer traffic.
  • University Town: The subject property is situated near Florida State University (FSU), which enrolls ±44,597 students. Covering more than 500 acres, FSU has maintained stable enrollment over the years, providing a dependable population. The university consistently receives strong national recognition, ranking #10 in Niche’s 2025 report of Top Public Universities in America and placing within the Top 25 public universities in U.S. News & World Report.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # CQ1066435, BK3554632 (FL)
Matthews Real Estate Investment Services, LLC
1600 West End Ave, Ste. 1500 Nashville, TN 37203