Greystone Place and Providence Pointe

Property Description

Global Real Estate Advisors (GREA) is pleased to present Greystone Place and Providence Pointe, two established apartment communities totaling 120 one-bedroom residences in Tallahassee, Florida. Both properties sit within a short drive of Florida State University and Florida A&M University, in a capital city whose economy is anchored by state government, higher education, and healthcare. Each community offers the same clear resident proposition: a private one-bedroom apartment at an attainable monthly rent, close to the city’s largest academic and employment destinations. Greystone Place is a 72-unit community built in 1972 on Jackson Bluff Road in the University neighborhood west of FSU. Providence Pointe is a 48-unit community built in 1974 on Stuckey Avenue in the Providence neighborhood, near FAMU, FSU, and the southwest research corridor. Together, the communities contain 63,072 rentable square feet, with apartments averaging approximately 526 square feet. The offering is 87.5% occupied, with 105 occupied apartments and 15 vacant residences across the two properties. That established resident base provides an operating foundation from day one, while the available apartments give an incoming owner a defined lease-up opportunity. Combined pricing guidance of $10,250,000, or approximately $85,417 per apartment, pairs that lease-up with measured rent growth and a uniform unit mix that supports a repeatable operating platform across both assets. Greystone Place and Providence Pointe offer a compelling Global Real Estate Advisors (GREA) is pleased to present Greystone Place and Providence Pointe, two established apartment communities totaling 120 one-bedroom residences in Tallahassee, Florida. Both properties sit within a short drive of Florida State University and Florida A&M University, in a capital city whose economy is anchored by state government, higher education, and healthcare. Each community offers the same clear resident proposition: a private one-bedroom apartment at an attainable monthly rent, close to the city’s largest academic and employment destinations. Greystone Place is a 72-unit community built in 1972 on Jackson Bluff Road in the University neighborhood west of FSU. Providence Pointe is a 48-unit community built in 1974 on Stuckey Avenue in the Providence neighborhood, near FAMU, FSU, and the southwest research corridor. Together, the communities contain 63,072 rentable square feet, with apartments averaging approximately 526 square feet. The offering is 87.5% occupied, with 105 occupied apartments and 15 vacant residences across the two properties. That established resident base provides an operating foundation from day one, while the available apartments give an incoming owner a defined lease-up opportunity. Combined pricing guidance of $10,250,000, or approximately $85,417 per apartment, pairs that lease-up with measured rent growth and a uniform unit mix that supports a repeatable operating platform across both assets. Greystone Place and Providence Pointe offer a compelling Global Real Estate Advisors (GREA) is pleased to present Greystone Place and Providence Pointe, two established apartment communities totaling 120 one-bedroom residences in Tallahassee, Florida. Both properties sit within a short drive of Florida State University and Florida A&M University, in a capital city whose economy is anchored by state government, higher education, and healthcare. Each community offers the same clear resident proposition: a private one-bedroom apartment at an attainable monthly rent, close to the city’s largest academic and employment destinations. Greystone Place is a 72-unit community built in 1972 on Jackson Bluff Road in the University neighborhood west of FSU. Providence Pointe is a 48-unit community built in 1974 on Stuckey Avenue in the Providence neighborhood, near FAMU, FSU, and the southwest research corridor. Together, the communities contain 63,072 rentable square feet, with apartments averaging approximately 526 square feet. The offering is 87.5% occupied, with 105 occupied apartments and 15 vacant residences across the two properties. That established resident base provides an operating foundation from day one, while the available apartments give an incoming owner a defined lease-up opportunity. Combined pricing guidance of $10,250,000, or approximately $85,417 per apartment, pairs that lease-up with measured rent growth and a uniform unit mix that supports a repeatable operating platform across both assets. Greystone Place and Providence Pointe offer a compelling combination of operating scale, private one-bedroom living, and access to Tallahassee’s university corridor. With 87.5% combined occupancy and 15 vacant apartments, the offering brings together an established resident base and a focused leasing opportunity. Attainable rents, a uniform unit mix, and proximity to FSU, FAMU, and Tallahassee State College reinforce the communities' position in Florida’s capital city, and an approximately $85,417-per-unit basis gives buyers a concrete path to stronger operating performance.