1241 NW 50Th Ave Gainesville, FL 32609

Property Details for 1241 NW 50Th Ave

Year built

2005

Construction

STEEL FRAME

Lot size

1.00 lot acres

Property size

5,400 SF

Zone code

I2

Property type

Warehouses

APN

07966-011-000

APU

7966011000

Description

This stabilized self-storage facility in Gainesville, Florida presents a compelling investment opportunity. The 11,980 square foot property, built in 2005 and renovated in 2006, sits on a one-acre lot and boasts 85 units: 28 climate-controlled and 57 standard units. The property offers significant upside potential through rent standardization and increases to market value. Further expansion is possible, with plans to add four 10' x 20' units. The property's strong performance is reflected in its 6.73% cap rate and $14,117.65 price per unit. The net rentable square footage is 6,760 square feet. The property is conveniently located near major retailers, hotels, The University of Florida (approximately 4 miles), and Gainesville Regional Airport (approximately 5 miles). Seller financing is available with a 5% interest-only option. This presents a unique opportunity to acquire a well-positioned asset in a growing market with substantial room for value enhancement. The property's location in Gainesville, the county seat of Alachua County and home to the University of Florida, ensures a stable and expanding tenant base. Gainesville's vibrant culture, including numerous parks and recreational opportunities, further enhances the property's appeal. This is a value-add investment with excellent potential for long-term growth and profitability. The property's APN is 07966-011-000. The asking price is $1,200,000.

Location Insight

City

Gainesville

County

Alachua

State

Florida

Longitude

-82.3378

Latitude

29.7011

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments