The Grove Townhome Apartments 3034 Jefferson St 44 Unité Immeuble d’appartements 7 159 256 $ CAD (162 710 $ CAD/Unité) 7,13% Taux de capitalisation Marianna, FL 32446

The Grove is 100% occupied and offers a rare combination of stabilized income, proven immediate value add, and long-term development potential.
Property Highlights:
$5,200,000 | Takeover NOI $383,133 | 7.37% Cap Rate
44 Units | 51,814 SF on 4.43 acres | R-3 zoning (up to 70 units possible)
100% Occupancy in a high-demand rental market (units lease within ~1 week)
$800,000+ invested in renovations and improvements
Day 1 cash flow with significant value add, through:
Inexpensive conversion of 6x 2-bed floorplans to 3-bed floorplans,
Bring 5x M2M leases to market rent,
Bring all units to market rents (proven with many on-property comps)
Add washer/ dryers and increase rents - units have hookups
Bill back the garbage and pest expense
Introduce pet rents
An adjacent 3-acre R-3 parcel is available for under $100,000, allowing up to 48 additional units.
Preview Video: https://www.youtube.com/shorts/WPD2VNj4E34?feature=share

Why Marianna, Florida Is Poised for Explosive Growth
1. Strategic Tri-State Location
Marianna borders Alabama and Georgia, creating a regional population draw of 1 million+ people within 60 miles. This makes Marianna a natural hub for logistics, retail, workforce housing, and manufacturing.
2. Exceptional Population & Income Growth
* Population: +32.37% since 2020 (4.4% annually)
* Median Income: +37.52% since 2023 (12.5% annual growth)
* Job Growth: +28.6% projected by 2034
Marianna isn’t just growing—it’s accelerating.
3. Housing Market Imbalance = Investor Advantage
A projected 380-unit housing shortage by 2030 in ZIP 32446 supports:
* Strong absorption
* Minimal vacancy
* Consistent rent growth
4. Market Validation: Chick-fil-A Enters Marianna
Opened April 2023, adding 125 jobs and signaling major corporate confidence in the market.
5. Economic Development Momentum
Pulse Industries:?278,000 SF high-tech manufacturing facility at Marianna Airport Industrial Park.
PackEx USA:?New aluminum packaging & bottling plant bringing sustainable manufacturing jobs.
These anchors reinforce long-term employment and population expansion.
6. Investor Takeaways
* Strong demographic trends
* Strong employer base
* Clear housing demand gaps
* Tri-state regional access
* Significant public + private investment
The Big Picture
Marianna is transforming into a regional economic hub with national attention and major investment. The Grove offers the rare combination of stabilization, growth, and development potential—making it a prime early-entry opportunity.