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1000 NE 16TH AVENUE, Gainesville, FL, 32601

NorthGate Campus
$9,300,000

Key Information

Cap Rate
10.93%
$ per SF
$114
Tot. SF
81,066
Year Built
1983
Type
Shopping Centers
NOI
$1,016,965

Highlights

INVESTMENT HIGHLIGHTS

  • COVERED LAND PLAY OPPORTUNITY: High yielding return sitting on ±8.38 acres within close proximity to the school, allowing for a developer to have a good amount of cash flow while working on the development plans.
  • FAVORABLE ZONING: Zoning is MU-1 which allows for a myriad of development opportunities.
  • HIGH YIELDING: Property has a near double digit return with strong credited long-term tenants.
  • GOVERNMENT LEASE: Department of Children and Families anchors the property and they have been in the location since 1989.
  • GAINESVILLE IS ONE OF FLORIDA’S FASTEST GROWING CITY: With a unique combination of a strong academic community, thriving business development, and an enviable quality of life, this city has managed to stand out as one of the most attractive destinations for those seeking educational and employment opportunities, and a prosperous environment.
  • OPPORTUNITY ZONE: The property is located in a Qualified Opportunity Zone which offers investors Capital Gains Tax Incentives.
  • TAX FREE STATE: Florida is one of nine (9) Income Tax Free States

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # CQ1052263 (FL)
Matthews Real Estate
1600 West End, Ste. 1500 Nashville, TN 37203