For Sale
$1,200,000

1241 50Th AveGainesville, FL 32609

85-unit facility, strong cash flow, expansion potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This stabilized self-storage facility in Gainesville, Florida presents a compelling investment opportunity. The 11,980 square foot property, built in 2005 and renovated in 2006, sits on a one-acre lot and boasts 85 units: 28 climate-controlled and 57 standard units. The property offers significant upside potential through rent standardization and increases to market value. Further expansion is possible, with plans to add four 10' x 20' units. The property's strong performance is reflected in its 6.73% cap rate and $14,117.65 price per unit. The net rentable square footage is 6,760 square feet. The property is conveniently located near major retailers, hotels, The University of Florida (approximately 4 miles), and Gainesville Regional Airport (approximately 5 miles). Seller financing is available with a 5% interest-only option. This presents a unique opportunity to acquire a well-positioned asset in a growing market with substantial room for value enhancement. The property's location in Gainesville, the county seat of Alachua County and home to the University of Florida, ensures a stable and expanding tenant base. Gainesville's vibrant culture, including numerous parks and recreational opportunities, further enhances the property's appeal. This is a value-add investment with excellent potential for long-term growth and profitability. The property's APN is 07966-011-000. The asking price is $1,200,000.

Highlights

  • Seller financing available with 5% interest-only option.
  • Excellent first-year cash-on-cash return of 8.46% with seller financing.
  • Significant upside potential through rent standardization and market rate increases.
  • Expansion opportunity: Add four 10' x 20' units.
  • 85 total units (28 climate-controlled, 57 standard) in an 11,980 square foot building.
  • Prime location: ~4 miles from University of Florida, ~5 miles from Gainesville Regional Airport.

Property Details for 1241 50Th Ave

Property type
Self storage facilities
Square Feet
11,980 SF
Year Built/Renovated
2005/2006
Lot Size (sq. ft)
43,560 SF
Units
85

Location Insight

City
Gainesville
County
Alachua
State
Florida
Latitude
29.701158479594
Longitude
-82.33825720442
1241 50Th Ave, Gainesville, Florida

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1241 50Th Ave
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