14709 129Th Ter, Alachua, FL 32615
11,200 SF Specialty Building Offered at $799,000 at a 9.50% Cap Rate in Alachua, FL 32615
For Sale
Active
Asking Price $799,000
- Property Type
-
Specialty
- Square Feet
- 11,200 SF
- Price / Square Foot
- $71
Listing Contacts
Scott Dahin
Property Overview
Turn-key storage business for small business owner or to add some square footage to a current portfolio. Lease-up and value add opportunity. In place rents below market. New owner can capitalize by increasing rents on day one! Recent Capex completed to fix 30 unrentable units that are ready to be leased up.
Florida is one of the most desired states for self-storage investments. No state income tax, coupled with the fact that most homes in Florida do not have basements, attics are too hot to store valuables, creating a tremendous opportunity to acquire a trophy property, with a positive outlook.
Strong lease-up trajectory with rents significantly below market
8%+ stabilized cap rate in year 2; 9.5%+ in year 3
Easily accessable from major highway I-75
Conveniently located in the Gainsville MSA
Located in a quickly growing market
Florida is one of the most desired states for self-storage investments. No state income tax, coupled with the fact that most homes in Florida do not have basements, attics are too hot to store valuables, creating a tremendous opportunity to acquire a trophy property, with a positive outlook.
Strong lease-up trajectory with rents significantly below market
8%+ stabilized cap rate in year 2; 9.5%+ in year 3
Easily accessable from major highway I-75
Conveniently located in the Gainsville MSA
Located in a quickly growing market
Property Details
- Class
- C
- Year Built
- 1978
- Stories
- 1
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 43,996 SF
Nearby Properties
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