404 140Th TerNewberry, FL 32669

Property Details for 404 140Th Ter

Year built

1995

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.26 AC

Property size (Sq ft)

13,289 SF

Zone code

BR

Property type

Office properties

Property subtype

Office buildings

APN

04344-005-008

APU

4344005008

Description

Equilease Park in Newberry, Florida, offers a diverse range of office spaces for lease, ideal for businesses seeking flexible and modern accommodations. This 40,000 square foot property features multiple tenancy options, with suites ranging from 3,001 to 25,256 contiguous square feet, and a total of 33,868 square feet currently vacant. The property is undergoing a complete renovation, boasting six new suites in the main office building, each with a unique floor plan. Located in Alachua County, this prime location offers easy access to thriving businesses and amenities. Beyond the office space, the campus includes a chemically certified 8,612 square foot lab/warehouse building, adaptable for various uses, featuring nine labs, storage areas, and convenient shipping/receiving access. An additional open-air storage structure with a metal roof and fencing provides ample storage capacity. The property also includes 4.35 acres of land, plus a 1.38-acre paved and fenced parcel available for lease or purchase, perfect for outside storage or a lay-down yard. Lease rates for office space vary, with options for as-is interior spaces at $12.00 per square foot NNN, or fully renovated spaces at $21.50 per square foot NNN with $100 per square foot tenant improvement allowance. The lab/warehouse space is available for lease at $12.00 per square foot NNN. This exceptional property presents a unique opportunity for businesses seeking a versatile and well-located space in a thriving community. The address is 404 SW 140th Terrace, Newberry, FL 32669.

• CAP approach

  CAP return

  Valuation

  6%

  $2,869,760

  6.5%

  $2,649,009

  7%

  $2,459,794

• Comparable approach

  Method

  Valuation

  Relative Method

  $903,785

  Geo Method

  $903,785

• Alternative Use

  Use

  Valuation

  Residential

  $3,284,771

  Hospitality

  $3,008,832

  Educational

  $2,503,313

  Medical

  $2,589,406

  Retail

  $3,894,043

Location Insight

City

Newberry

County

Alachua

State

Florida

Latitude

29.6497

Longitude

-82.4914

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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