3850 Newberry RdGainesville, FL 32607
- Retail properties
- 2,100 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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