3850 Newberry Rd Gainesville, FL 32607-2341

Property Details for 3850 Newberry Rd

Year built

2004

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.80 lot acres

Property size

2,100 SF

Zone code

BA

Property type

Grocery and convenience stores

APN

06501-010-000

APU

6501010000

Description

This exceptional investment opportunity presents a freestanding Shell gas station and convenience store located at 3850 Newberry Rd, Gainesville, FL 32607 in Alachua County. The property, built in 2004 and renovated in 2020, boasts 3,010 square feet on a 0.8-acre lot. It features 12 gas pumps and benefits from a 21-year absolute NNN lease with a franchisee tenant, commencing November 22, 2019, and expiring November 30, 2040. With 16 years remaining on the primary lease term, this investment offers significant long-term stability. The lease includes two 10-year renewal options and features a 2.00% annual rent increase. The property currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $307,994, resulting in a 6.25% cap rate. The asking price is $4,928,000, translating to $1,637.21 per square foot. This prime location benefits from high traffic counts (data not provided) and a dense population within a 3-5 mile radius (data not provided). The property is offered as a leased fee simple investment. This is a rare opportunity to acquire a well-established, high-performing asset in a tax-advantaged state.