2045 Third Ave Sneads, FL 32460
- Commercial real estate
- 52,200 SF
- 10.07 lot acres
Current Use by Public Records
- Hatton House Properties / Retirement Home / Apartment Complex
Property Details for 2045 Third Ave
- Year built
- 2001
- Lot size
- 10.07 lot acres
- Property size
- 52,200 SF
- Property type
- Commercial real estate
Description
Auctioning this 76-unit LIHTC apartment community in Sneads, Florida. Built in 2001, this two-story, 52,200 square foot building sits on 10.07 acres and boasts a 71% occupancy rate as of September 1, 2024. The property features a clubhouse, common area bathrooms, four laundry facilities, a library, gym, elevator, community kitchen, business center/computer lab, picnic area with grills, and an indoor heated swimming pool with a retractable roof. Unit mix includes 55 one-bedroom/one-bathroom, 13 two-bedroom/two-bathroom, and 8 two-bedroom/two-bathroom units with patios. The property offers significant upside potential through lease-up at increased rents (currently below maximum allowable rents), capital improvements, and hands-on management. Recent improvements include common area wainscot, flooring, and paint, as well as several unit renovations. The roof was replaced within the last five years. Located near US-90 and approximately 6 miles from I-10, this property provides easy access to regional amenities and transportation corridors. Sneads is situated in the Florida Panhandle, near the Georgia border, approximately 50 miles west of Tallahassee and 50 miles east of Dothan, Alabama. Nearby attractions include Three Rivers State Park, Jim Woodruff Dam, and Lake Seminole. The asking price is $750,000.
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
- Sneads
- County
- Jackson
- State
- Florida
- Longitude
- -84.921317
- Latitude
- 30.712571
