3850 Newberry RdGainesville, FL 32607

  • Retail properties
  • 2,100 SF
For Sale
$4,928,000 View listing

Property Details for 3850 Newberry Rd

Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.80 AC
Property size (Sq ft)
2,100 SF
Zone code
BA
Property type
Retail properties
Property subtype
Grocery and convenience stores
APN
06501-010-000
APU
6501010000

Description

This exceptional investment opportunity presents a freestanding Shell gas station and convenience store located at 3850 Newberry Rd, Gainesville, FL 32607 in Alachua County. The property, built in 2004 and renovated in 2020, boasts 3,010 square feet on a 0.8-acre lot. It features 12 gas pumps and benefits from a 21-year absolute NNN lease with a franchisee tenant, commencing November 22, 2019, and expiring November 30, 2040. With 16 years remaining on the primary lease term, this investment offers significant long-term stability. The lease includes two 10-year renewal options and features a 2.00% annual rent increase. The property currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $307,994, resulting in a 6.25% cap rate. The asking price is $4,928,000, translating to $1,637.21 per square foot. This prime location benefits from high traffic counts (data not provided) and a dense population within a 3-5 mile radius (data not provided). The property is offered as a leased fee simple investment. This is a rare opportunity to acquire a well-established, high-performing asset in a tax-advantaged state.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $666,638
    6.5%
    $615,358
    7%
    $571,404
  • Comparable approach

    Method
    Valuation
    Relative Method
    $359,909
    Geo Method
    $359,909
  • Alternative Use

    Use
    Valuation
    Residential
    $519,077
    Hospitality
    $475,472
    Educational
    $395,587
    Medical
    $409,192
    Retail
    $615,358
3850 Newberry Rd, Gainesville, Florida

Location Insight

City
Gainesville
County
Alachua
State
Florida
Latitude
29.6534
Longitude
-82.3828
CBSA code
23540
CBSA name
GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$19,695
$522,720
$305,112
$827,832
-
$522,720
$305,112
$827,832

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