242 Noble Ave Williston, FL 32696

Property Details for 242 Noble Ave

Year built

2024

Property size

2,000 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a 2,000 square foot, brand-new T-Mobile storefront located at 242 W Noble Ave, Williston, FL 32696. The property boasts a highly visible location on West Noble Avenue (18,200 AADT), situated at the intersection of US Route 41 and US Route 27, ensuring significant exposure to both commuters and local residents. This single-tenant, net lease (NN+) property features a 10-year lease commencing July 15, 2024, and expiring July 31, 2034, with built-in rent bumps. The tenant, T-Mobile, is a premier wireless carrier with a substantial customer base and a strong financial performance. The property benefits from a robust local market, with 55,445 residents within a five-mile radius and proximity to major retailers such as Winn-Dixie, Tractor Supply Co., and others. The property's strategic location near The University of Florida and Downtown Gainesville further enhances its long-term growth potential. The asking price is $1,690,000, representing a 6.30% cap rate and a net operating income (NOI) of $106,412. The property is ideally suited for a 1031 exchange. This is a rare opportunity to acquire a tenant-maintained property with a strong tenant and significant growth potential. The property was built in 2024 and is the only T-Mobile location within a 24-mile radius. The lease includes provisions for accelerated depreciation.