Building Details

Building Size 28,000 SF

Year Built 2011

Listing Agency: Lee & Associates Gainesville

Listed By: Brian Oen, SIOR · License #BK3372787 Show Phone

Source: Lee-associates

Added: Mar 4 Changed: Sep 8 Last Checked: Oct 5 at 4:50PM

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Investment Insights

Based on property information with market context.

Located in Hawthorne, Florida, this property features a 28,000 square foot building constructed in 2011. The building is zoned Agricultural and is suitable for industrial or refrigerated/cold storage. The property includes 20’ x 30’ of freezer storage (-10°F), approximately 11,000 square feet of cooler space (32–45°F), and approximately 9,000 square feet for ambient dry storage or staging. The processing floor is suitable for light food production or prep. The building is equipped with 16-3 phase power cooling units to deliver the appropriate temperature. The property is positioned near key transportation arteries and major markets, and the historic downtown district of Hawthorne.

Key Highlights

• 28,000 square foot building suitable for industrial or refrigerated/cold storage.
• Features 11,000± SF of cooler space (32–45°F) and 20’ x 30’ of freezer storage (-10°F).
• Constructed in 2011, offering modern infrastructure.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$204,561

Cap Rate

8.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,091,220 $4.1M

Cap Rate 7%

$2,922,300 $2.9M

Cap Rate 9%

$2,272,900 $2.3M

Market Conditions

NOI Build-Up for 28,000 SF

Gross rent

$252.0K $9.00/SF

− Vacancy

−$11.3K −$0.41/SF

EGI

$240.7K $8.59/SF

− OpEx

−$36.1K −$1.29/SF

NOI

$204.6K $7.31/SF

Area

Alachua County, FL

Vacancy

4.50%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,091,220

Cap Rate 7%

$2,922,300

Cap Rate 9%

$2,272,900

Alternative Uses

Best Use

Warehouse

$2.92M

$2.56M – $3.41M (±1% cap)

NOI $204,561 @ 7.0% cap · market cap 8.91%

Second Best

Industrial

$2.71M

$2.37M – $3.17M (±1% cap)

NOI $189,924 @ 7.0% cap · market cap 8.28%

Theoretical Best

Office A

$7.06M

$6.18M – $8.24M (±1% cap)

NOI $494,122 @ 7.0% cap · market cap 21.53%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Big Box & Wholesale Store Dental Office Food Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 32640, FL

10,281

Population

5,353

Households

1.9

Avg Household Size

51

Median Age

14%

College-Educated

84%

High-School Grad

187.7 sq mi

ZIP Area

55

Density / Sq Mi

$58,727

Median Household Income

$35,833

Median Earnings

$959

Median Rent

$153,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - 28,000 SF industrial building with freezer and cooler space.

Where is this warehouse located?

The property is located at 19450 East County Road 1474 Hawthorne, FL.

What is the asking price?

The asking price for this property is $2,295,000.

What are key features of this property?

This property features: 28,000 square foot building suitable for industrial or refrigerated/cold storage.; Features 11,000± SF of cooler space (32–45°F) and 20’ x 30’ of freezer storage (-10°F).; Constructed in 2011, offering modern infrastructure.