3515 Archer Rd Gainesville, FL 32608-2422
- Drive through restaurants
- 2,324 SF
- 0.80 lot acres
Current Use by Public Records
- Camp Ground on Archer Road / Park
- Archer Square Center / Shopping Mall
Property Details for 3515 Archer Rd
- Year built
- 1977
- Construction
- WOOD
- Lot size
- 0.80 lot acres
- Property size
- 2,324 SF
- Zone code
- PD
- Property type
- Drive through restaurants
- APN
- 06812-007-000
- APU
- 6812007000
Description
This exceptional investment opportunity presents a fee-simple ownership of a 34,848-square-foot Pizza Hut restaurant located at 3515 SW Archer Rd, Gainesville, FL 32608. The property boasts a 3.31% cap rate (3.59% pro-forma) and a strong net operating income of $152,415 ($164,979 pro-forma). The absolute NNN lease with Pizza Hut has a remaining term of approximately 2.9 years, expiring November 1, 2027, with 2% annual rent bumps. The property sits on a 34,848-square-foot lot, zoned TCEA ZONE C, and offers significant potential for future development. Current zoning allows for a maximum buildable floor area of 12,196 square feet. This prime outparcel location is situated near a Kohl's department store, the University of Florida (with over 50,000 students within a mile), and the highly occupied Butler Plaza regional mall. The property benefits from excellent traffic counts, averaging 49,500 AADT. The asking price is $4,600,000, translating to $132 per square foot. This is a rare opportunity to acquire a well-located, income-producing property with significant upside potential in a thriving Gainesville market. The property is available for sale as fee simple ownership, delivered vacant, or with the existing long-term Pizza Hut lease in place.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Gainesville
- County
- Alachua
- State
- Florida
- Longitude
- -82.3751
- Latitude
- 29.6239
- CBSA code
- 23540
- CBSA name
- GAINESVILLE, FL METROPOLITAN STATISTICAL AREA
