PARK AVENUE OFFICE - LoopNet...Total SF 5,010 Roof Cover Architectural Shingles Leasable SF 4,800 AC...

EXCEPTIONAL INVESTMENT OPPORTUNITY

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COSTEL VANATORULic. Real Estate Broker • Vanwald&Associates LLC321-947-9536 • [email protected]

The information contained in this flyer is deemed to be reliable but not guaranteed. All facts should be independently verified.

PARK AVENUE OFFICEGainesville, Florida

Confidential Offering Memorandum


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TABLE OF CONTENTS

F O R M O R E I N F O R M A T I O N , C O N T A C T :

COSTEL VANATORULic. Real Estate [email protected]

VanWald & Associates LLC • 6000 Metrowest BLVD, STE 101, Orlando, FL 32835

& A S S O C I A T E S

PROPER T Y SN APSHO T

PROPER T Y OVERV I EW

LOC AT ION OVERV I EW

PROPER T Y PHO T OS

TEN ANT L INE -UP

OPERAT ING INFORMAT ION & INVES TMENT DETA I L S

CONTACT INFORMAT ION


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PROPERTY SNAPSHOT

Property PARK AVENUE

Address 925 NW 56th Terrance

City, State Gainesville, FL 32605

County Alachua County

Type Office

Year Built 1988

Occupancy 100%

Square feet 5,010 total

Buildings 1

Suites 3

Floors One

Class B

Parking Ample Parking Available

VanWald & Associates is pleased to present the opportunity to acquire 925 NW 56th Terrace, located in Park Avenue Medical Office Park in Gainesville, Florida.

The offering consists of a quality, (1) single-story multi-tenant office building totaling 4,800 square feet. The asset is 100% leased and located in a very well positioned office park, with close proximity to the North Florida Regional Hospital, The Oaks Mall, I-75, as well as other key areas of Gainesville.

The property is divided into 3 (three) individual office suites currently leased by strong tenants, and used as professional business offices.

• 100% LEASED

• WELL MAINTAINED

• AMPLE PARKING

PROPERT Y SNAPSHOT

PROPERT Y SNAPSHOT

100% Leased


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PROPERT Y OVERVIEW

Boundary lines are approximate.

SITE DATA

SITE DATAProperty PARK AVENUE

Address 925 NW 56th Terrace

State Gainesville, Fl 32605

County Alachua PID 06354-010-013

Area 20,909 SF +/-

Zoning PD

Use 01700-Office 1 Story

PARK AVENUEOFFICE


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BUILDING DATABuilding Use Professional Office Year Built 2000

Type Free Standing Building Class B

Occupancy 100% Exterior Construction Hardiboard

Tenancy Multiple Interior Construction Drywall

Total SF 5,010 Roof Cover Architectural Shingles

Leasable SF 4,800 AC Central

Buildings 1 Heating Forced Air/Electric

Suites 3 Parking Ample Parking in Business Park

Floors One

BUILDING DATA

PROPERT Y OVERVIEW

Front Left


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EXCELLENT LOCATION

PARK AVENUE is strategically located minutes to the NORTH FLORIDA REGIONAL HOSPITAL,The Oaks Mall, and I-75. The property is situated in an Office Business Park featuring mostly Medical and Law Offices. Excellent access to I-75, about 20 minutes to the Gainesville International Airport, and The University of Florida.

The site benefits from ample parking and great placement. The Office Park is very well appointed, with matured oak trees and well manicured landscaping.

The aforementioned location, construction quality, and tenant line-up provide an investor a unique opportunity to add this Asset to their portfolio.

PARK AVENUEOFFICE

LOCATION OVERVIEW

PARK AVENUEOFFICE

W NWEBERRY RD


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100% LEASED

FRONT VIEW

PROPERT Y PHOTOS


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TENANT LINE-UP

SUITE A

Tenant

Brashear & Assoc., PL

Use Law Offices

Tenant Description Attorneys: Bruce Brashear, J.D. - Peter C. Focks, J.D. - Larry D. Marsh, J.D., LL.MOur mission is to help our clients achieve their business goals by providing practical solutions to their needs and common-sense advice designed to avoid problems in a cost-effective, timely manner.

Square Footage 2,080 SF +/-

Lease Type Lease Term Lease Commencement End of Term Yearly Rate

Mod. Gross 60 June 1, 2013 May 30, 2018 $20,799

SUITE B

Tenant

Comfort KeepersA Sodexo Brand

Use Professional Office

Website www.comfortkeepers.com

Tenant Description For more than 11 years, Comfort Keepers has been providing home care services for seniors and other adults in and around Gainesville, Alachua, Archer, Willison, and Hawthorne, Flor-ida. For us, it’s about providing a service to seniors and their families that will give them the most comprehensive, quality home care while continuing to promote their independence and maintaining their quality of life.



Mod. Gross 72 Oct 15, 2011 Oct 14, 2017 $14,879

SUITE A

Tenant

The Toney Law Firm

Use Law Offices

Tenant Description At The Toney Law Firm, we are committed to providing compassionate quality legal repre-sentation for elders and their families for an affordable and reasonable fee. Our goal is to help dispel myths and fears that our clients face and help our clients find peace of mind in a complicated legal and social arena.Scott has extensive experience in handling matters relating to lifetime planning for his clients’ financial and health needs, as well as assisting their family members with estate and trust set-tlement. In addition to the practice areas of estate planning, our firm also handles elder law matters, guardianships, probate and real estate closings



Mod. Gross 60 Feb 1, 2016 Jan 31, 2021 $19,200


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FINANCIAL INFORMATION

OPERATING INFORMATION

Financial inFormationSuite 2016 to 2017 Rent Increases

Suite A $20,800 N/ASuite B $14,879 3% YearlySuite C $19,200 3% Yearly

Gross Income $54,879Expenses $10,985

Net Income $43,894

investment Details

Purchase Price $629,000caP rate 7.00%Price Per square Foot $125.54


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GAINESVILLE, FLORIDA

Gainesville is the county seat and largest city in Alachua County, Florida, and the principal city of the Gainesville, Florida Metropolitan Statistical Area (MSA). The population of Gainesville in the 2013 US Census was 127,488, a 2.4% growth from 2010. Gainesville is the largest city in the region of North Central Florida. In addition, it is also a component of the Gainesville-Lake City Combined Statistical Area, which had a 2013 population of 337,925.

Gainesville is home to the University of Florida, the nation’s eighth largest university campus by enrollment, as well as to Santa Fe College. The Gainesville MSA was ranked as the #1 place to live in North America in the 2007 edition of Cities Ranked and Rated.

Also in 2007, Gainesville was ranked as one of the “best places to live and play” in the United States by National Geographic Adventure.

SUBJECT PROPERTY DEMOGRAPHICS

1-mi. 3-mi. 5-mi.2015 Total Population 6,868 76,465 160,6622015 Households 3,052 30,689 64,655

Housing 1-mi. 3-mi. 5-mi.2015 Housing Units 3,116 29,229 64,4072015 Occupied Housing Units 3,008 27,129 59,2182015 Owner Occupied Housing Units 2,339 13,201 25,2492015 Renter Occupied Housing Units 669 13,928 33,969

2015 Household Income: Median $61,392 $41,602 $36,3032015 Household Income: Average $93,598 $64,349 $58,1682015 Per Capita Income $41,666 $27,846 $25,036From www.Loopnet.com

Market Area


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F O R M O R E I N F O R M A T I O N , C O N T A C T :

VanWald & Associates LLC • 6000 Metrowest BLVD, STE 101, Orlando, FL 32835& A S S O C I A T E S

COSTEL VANATORULic. Real Estate [email protected]

CONTACT INFORMATION

CONTACT THE BROKER

Disclosure: One of the sellers holds an active real estate broker license in the State of Florida.

PARK AVENUE OFFICE - LoopNet...Total SF 5,010 Roof Cover Architectural Shingles Leasable SF 4,800 AC...

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