Mini Storage Facility
For Sale
$2,939,000
2150/2160 Ne 31st Avenue GAINESVILLE, Gainesville, FL 32609
Assemblage of mini storage units on two parcels totaling 3.55 acres.
Property Size29,390 SF
Lot Size3.55 Acres
Price / SF$100
Days on Market35
Property Features for 2150/2160 Ne 31st Avenue GAINESVILLE
General Information
Standard status
Active
Size
29,390 SF
Lot size
3.55 Acres
Zoning
BI
Taxes and HOA fees
Annual Taxes
$34,237
Amenities
false
3.55
2
Paved
Slab
City Street
29390
5
Building Details
Building Size
29,390 SF
Year Built
1979
Buildings
5
Listing Agency:
(904) 569-5862
Listed By:
Silmara Castilhos Saxena
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 6
Changed: Aug 8
Last Checked: Aug 8 at 3:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Silmara Castilhos Saxena
Investment Insights
Based on property information with market context.
This offering presents an assemblage of mini storage units located on two parcels. The property totals 3.55 acres, providing a dedicated storage facility configuration across multiple lots.
The assemblage is listed for sale, and the address is provided as 2150/2160 NE 31st Avenue in Gainesville, FL.
Based on the provided information, the asset is positioned as a self-storage investment built around mini storage units, with the key attribute being the combined acreage across the two parcels.
The assemblage is listed for sale, and the address is provided as 2150/2160 NE 31st Avenue in Gainesville, FL.
Based on the provided information, the asset is positioned as a self-storage investment built around mini storage units, with the key attribute being the combined acreage across the two parcels.
Key Highlights
- Mini storage unit assemblage on two parcels totaling 3.55 acres
- 5 total buildings
- Total building area is 29,390 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$241,074
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,821,480
$4.8M
Cap Rate 7%
$3,443,914
$3.4M
Cap Rate 9%
$2,678,600
$2.7M
Market Conditions
NOI Build-Up for 29,390 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$370.3K $12.60/SF
− Vacancy
−$25.9K −$0.88/SF
EGI
$344.4K $11.72/SF
− OpEx
−$103.3K −$3.52/SF
NOI
$241.1K $8.20/SF
Area
Gainesville, FL
Vacancy
7.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,821,480
Cap Rate 7%
$3,443,914
Cap Rate 9%
$2,678,600
Alternative Uses
Best Use
Self Storage
$3.44M
$3.01M – $4.02M
NOI $241,074 @ 7.0% cap · market cap 8.20%
Second Best
Warehouse
$3.07M
$2.68M – $3.58M
NOI $214,716 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$7.28M
$6.37M – $8.49M
NOI $509,552 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
Explore this area
Business Placement
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Assemblage of mini storage units on two parcels totaling 3.55 acres.
Where is this self storage facility located?
The property is located at 2150/2160 Ne 31st Avenue GAINESVILLE Gainesville, FL.
What is the asking price?
The asking price for this property is $2,939,000.
What are key features of this property?
This property features: Mini storage unit assemblage on two parcels totaling 3.55 acres; 5 total buildings; Total building area is 29,390 SF
