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Mayo StTallahassee, FL 32304
Mayo Street Dev Site at FSU
Asset ClassStudent Housing, Land
Land4.08 Acres
# Beds: 700Access Data Room
Student Housing Development Opportunity Fully Entitled for 204 Units with an Estimated 700 Beds at Florida State University.
overview of deal

Overview

The Mayo Street Development Opportunity is a 4.079-acre site fully entitled for 204 units that will serve Florida State University in Tallahassee, Florida. Located two blocks west of Doak Campbell Stadium off W Pensacola Street is a 13-parcel assemblage zoned University Transition (UT) allowing for 50 units per acre. The assemblage is located along the $1.7M Belle Vue Way Water and Sewer Improvement Project that will upgrade and upsize 4,100 linear feet of existing water main and 3,600 feet of gravity sewer main improving the system capacity. Existing tunnels under Pensacola Street and Stadium Drive provide safe Pedestrian/bicycle/scooter access to campus.

 

The site allows for a 5-story Class A building to be developed atop a site that is over 90 FT higher in grade elevation than its surrounding areas, allowing for no run-through stormwater while providing prime views of Doak Campbell Stadium. Given the by-right entitlements for 204 units, future development is estimated to be up to 700 beds including a parking garage that has been preliminarily laid out and works within the footprint of the development.

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Investment Highlights

  • Fully entitled for 204 units and an estimated 700 beds
  • Located steps from Doak Campbell Stadium and Florida State University campus
  • 4.079 Acre site allowing for a 5-story Class A student housing development
  • Over 43,000 students enrolled at Florida State University for AY 23/24
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Mayo StTallahassee, FL 32304
Doak Campbell Stadium
Florida State University
Tallahassee Community College
Florida Agricultural and Mechanical University
State Capitol Building

Sales Team

Nicholas CoccodrilliSenior Investment Analysis Director | Florida Sales Associate(813) 605-4460nicholas.coccodrilli@colliers.com
Greg YoungSenior Vice President(346) 547-4896greg.young@colliers.com
David CortezVP, Transactions(346) 547-4830david.cortez@colliers.com
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