For Sale
$2,991,500

2278 43Rd StGainesville, FL 32606

Cox Communications NNN Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 3,500 square foot retail building in Gainesville, Florida, occupied by Cox Communications under a 10-year net lease. The property boasts a strong 5.85% cap rate and a substantial $175,000 annual net operating income (NOI). The lease includes 10% rent increases every five years and two five-year renewal options, ensuring long-term income stability. Cox Communications, a highly rated investment-grade tenant with a corporate guarantee, provides exceptional creditworthiness. Strategically located at a signalized intersection with high daily traffic counts (43,800 vehicles), the property benefits from its proximity to major roadways, including Interstate 75, and is part of a larger developing commercial area including a new urgent care facility and planned retail space. The location also enjoys excellent visibility and accessibility, situated near established shopping centers like The Marketplace, Thornbrook Village, and Millhopper Shopping Center, and across the street from a high-performing Publix supermarket. The affluent surrounding neighborhood, with an average household income exceeding $119,955 within a one-mile radius, further enhances the property's investment potential. Built in 2024, this single-story building is zoned for general office use and offers a compelling return on investment for discerning buyers. The asking price is $2,991,500, translating to $854.71 per square foot.

Highlights

  • Brand new 10-year net lease with 10% increases every 5 years and two 5-year options.
  • Investment-grade credit tenant: Cox Communications (BBB+ Fitch, Baa2 Moody's, BBB S&P).
  • Cox Communications, a top-three US cable provider, boasts over $13 billion in 2024 revenue.
  • Cox serves 6.5 million customers, including significant cable, internet, and telephone subscriber bases.
  • High-traffic location at the signalized intersection of 43rd Street and 16th Boulevard (43,800 VPD).
  • Part of a developing area including a new urgent care facility, future retail, and daycare.

Property Details for 2278 43Rd St

Property type
Lifestyle centers, Power centers
Square Feet
3,500 SF
Year Built
2024
Buildings
1
Stories
1

Location Insight

City
Gainesville
County
Alachua
State
Florida
Latitude
29.6737841
Longitude
-82.3893
2278 43Rd St, Gainesville, Florida

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2278 43Rd St
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