Alliance at 400

Alliance at 400

Price: $ 4,832,000

Total Number of Units: 80 Units / 320 Beds

Address: 400 Putnam Dr, Tallahassee, FL, USA

  • Highly desirable purpose-built student housing asset built in 2003
  • Located just 0.2 miles from Florida A&M University’s campus
  • Adjacent to the site of the future Tallahassee Police Headquarters
  • Below market rents allow a new buyer to increase market rents to $369/bed
  • Opportunity to achieve a Cash-on-Cash Return north of 20.07% in year zero

Call for Offers: Tuesday, August 07th by 5:30pm EST

Lead Agent(s): Benjamin N. Skinner and Matthew W. Prozzillo

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Location Highlights

  • 9,619 total enrollment (7,769 undergraduate)
  • 19.8% YOY application increase
  • FAMU’s IGNITE Program is on-pace to increase the number of transfer students by 28.8% by 2020
  • Currently, FAMU is seeking $24-million in state funding for enrollment and employment growth initiatives

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