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Oaks Mall Restaurant Pad | Gainesville, FL 6791-6795 W Newberry Rd 11,245 SF 100% Leased Retail Building Gainesville, FL 32605 $2,850,000 ($253.45/SF) 7% Cap Rate
Investment Highlights
- Trade Area Includes Regional Economic Drivers: The Oaks Mall (owned by Brookfield Properties) with 4 million annual visitors
- Internet-Resistant Restaurant Tenants Providing Long-Term Occupancy Stability
- High Daytime Traffic Enhancing the Tenants’ Performance and Long-Term Asset Value
- Strong and Affluent Demographics: 178,620 people with an average household income of $101,348 within a 5-mile radius
Executive Summary
Long-Term Tenants with Proven Track Record | Below-Market Rents with Upside Potential | Ideal Visibility from I-75 (91,000 VPD) & Newberry Road (52,000 VPD)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,245 SF
Building Class
C
Year Built
1986
Price
$2,850,000
Price Per SF
$253.45
Cap Rate
7%
NOI
$199,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
1.97 AC
Zoning
BUS - Building is zoned for Urban Mixed Use (U8) permiting mini warehouse/storage use or future mixed use redevelopement.
Parking
63 Spaces (5.6 Spaces per 1,000 SF Leased)
Frontage
344’ on West Newberry Road
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Crab Ocean
- Retailer
- -
- -
- -
Casual Asian buffet with a variety of offerings, including a hibachi station & sushi bar.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Crab Ocean | Retailer | - | - | - | ||
| Ocean Buffet | Accommodation and Food Services | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 06655-050-001 | Improvements Assessment | $396,934 |
| Land Assessment | $263,766 | Total Assessment | $660,700 |
Property Taxes
Parcel Number
06655-050-001
Land Assessment
$263,766
Improvements Assessment
$396,934
Total Assessment
$660,700
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Oaks Mall Restaurant Pad | Gainesville, FL | 6791-6795 W Newberry Rd
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