1241 50Th AveGainesville, FL 32609

Property Details for 1241 50Th Ave

Year built

2005

Construction

STEEL FRAME

Lot size

1.00 AC

Property size (Sq ft)

5,400 SF

Zone code

I2

Property type

Industrial properties

Property subtype

Other warehouses

APN

07966-011-000

APU

7966011000

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $1,334,770

  Hospitality

  $1,222,642

  Educational

  $1,017,224

  Medical

  $1,052,208

  Retail

  $1,582,349

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.7011

Longitude

-82.3378

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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