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5080 W Newberry Rd
Gainesville, FL 32607
Truist Bank · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Seller financing available!!!
- 1.5% annual rent increases throughout initial term and extension periods
- Three drive-thru lanes, ample on-site parking, and mature landscaping
- Absolute NNN lease backed by Truist Financial (Fitch: A)
- High-traffic location (53,000 AVD) minutes from the University of Florida and Interstate 75
- Less than 3 miles from University of Florida campus
EXECUTIVE SUMMARY
Seller Financing Available!!! Comprising 12,628 SF, the Truist Bank - Gainesville represents the unique opportunity to own a corporate backed absolute NNN property in one of Florida’s most dynamic submarkets, minutes away from the University of Florida, HCA Florida North Hospital, and the Oaks Mall (only regional mall in MSA). Positioned less than one mile from Interstate 75, Truist Bank - Gainesville comprises 12,628 SF and includes a 1.48-acre site, three drive-thru lanes, mature landscaping, and ample parking. The absolute NNN lease has 2.7-years of remaining term (March 2028) with favorable 1.5% annual rent increases and six five-year extension options.
The University of Florida and its related healthcare centers are the largest employers in the Gainesville MSA, providing economic stability to the region and an abundance of high paying jobs. The market benefits from its excellent connectivity via Interstate 75 and other major transportation arteries to Jacksonville, Orlando, and Tampa. Over the last ten years, the Gainesville’s population has grown at 2x the U.S. average and is expected to remain strong going forward.
The University of Florida and its related healthcare centers are the largest employers in the Gainesville MSA, providing economic stability to the region and an abundance of high paying jobs. The market benefits from its excellent connectivity via Interstate 75 and other major transportation arteries to Jacksonville, Orlando, and Tampa. Over the last ten years, the Gainesville’s population has grown at 2x the U.S. average and is expected to remain strong going forward.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
12,628 SF
Building Class
B
Year Built
2003
Price
$4,550,469 CAD
Price Per SF
$360.35 CAD
Cap Rate
6.30%
NOI
$286,669 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.20
Lot Size
1.48 AC
Zoning
CP - CP - Corporate Park
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,495,051 CAD | |
| Land Assessment | $1,147,133 CAD | Total Assessment | $2,642,184 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,147,133 CAD
Improvements Assessment
$1,495,051 CAD
Total Assessment
$2,642,184 CAD
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