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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 Numbers | Improvements Assessment | $3,351,165 | |
| Land Assessment | $1,344,235 | Total Assessment | $4,695,400 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,344,235
Improvements Assessment
$3,351,165
Total Assessment
$4,695,400
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Oaks Mall Restaurant Pad | Gainesville, FL | 6791-6795 W Newberry Rd
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