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Cox Communication 2278 NW 43rd St 3,500 SF Retail Building Gainesville, FL 32605 $2,893,500 ($826.71/SF) 6.05% Cap Rate
INVESTMENT HIGHLIGHTS
- Brand New 10-Year Corporate Lease with 2 (5-Year) Option Periods to Extend
- Located at the Signalized Intersection of 43rd Street and 16th Boulevard, Averaging a Combined 43,800 Vehicles per Day
- Publix Across the Street in Millhopper Square Is Ranked in the Top 85th Percentile of Publix’s Nationwide with 1.2M Visits per Year
- 10% Rental Increases Every 5 Years Throughout the Initial Term and Options
- Adjacent to The Marketplace (90K+ SF), Thornbrook Village Shopping Center (82K+ SF), and Millhopper Shopping Center (80K+ SF)
- One-Mile Average Household Income of $119,955
EXECUTIVE SUMMARY
• The tenant recently signed a brand new 10-year lease with 2 (5-year) option periods to extend, demonstrating their commitment to the site
• The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
• The landlord is responsible for CAM, Taxes, and Insurance; however, gets reimbursed for all operating expenses
• Ideal, low-management investment opportunity in a state with no state income tax
• Founded in 1898, Cox Communications is the largest private broadband provider in the United States
• The lease features 10% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation
• The landlord is responsible for CAM, Taxes, and Insurance; however, gets reimbursed for all operating expenses
• Ideal, low-management investment opportunity in a state with no state income tax
• Founded in 1898, Cox Communications is the largest private broadband provider in the United States
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
3,500 SF
Building Class
B
Year Built
2024
Price
$2,893,500
Price Per SF
$826.71
Cap Rate
6.05%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
7.41 AC
Zoning
OF - General Office
Frontage
657’ on Northwest 43rd Street
AMENITIES
- Signage
- Air Conditioning
Bike Score®
Very Bikeable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06371-003-000 | Improvements Assessment | $1,412,846 |
| Land Assessment | $1,013,760 | Total Assessment | $2,426,606 |
PROPERTY TAXES
Parcel Number
06371-003-000
Land Assessment
$1,013,760
Improvements Assessment
$1,412,846
Total Assessment
$2,426,606
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Cox Communication | 2278 NW 43rd St
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