5300, 5310, 5320, 5400 SE Hawthorne ROAD
About This Property
Its 53+ acres consist of 5 legal parcels, variously zoned commercial, agricultural, and residential. Inquiries indicate that cluster zoning for multi-use is feasible.
South and west sides of the property front 1733' of paved roads while the north neighbor is the 30 acre Gainesville Retreat Center. The property's entire 2830' eastern boundary adjoins 90 acres of "Old Florida" conservation land.
A stream which traverses near the top of the north parcel and a small mid-property pond provide water for the many deer, turkey, and birds that inhabit a lush extended environment of pines, live oaks, cypress, and native plants. Over 1.5 miles of shaded pathways meander over the property's slightly undulating terrain.
Across the roads from the property are a paved 16 mile biking/walking/horse-riding trail, a Regional Conservation Area, and Newnans Lake (5800 ac). Palm Point Nature Park/Bird Sanctuary, the Earl P. Powers Public Boat Ramp, and the Gainesville Area Rowing Club are less than 1 mile away, as are sheriff, fire, and EMT facilities.
The property is about a 10 minute drive from the Gainesville Regional Airport, downtown Gainesville, University of Florida, Butler Mall and VA/UF Medical Centers.
All parcels are within Tax Opportunity and Infrastructure Grant Zones. Sewer and power are present. Water is provided by both Gainesville and two private wells on the property. Two of the commercial parcels have buildings on them. Three quite small buildings are derelict and a 50'/150'/20' steel-framed, concrete slab marine repair shop would require near-total restoration. However, one well-built concrete 60'x60'x12' structure (which was originally a marine sales showroom and office) is very sound and already stripped to shell. This building would require renovation for residential and/or commercial use.
Subject to the formal approval process, these parcels are ideal for developing separately or as one parcel. Some realistic options might be: a private town-country estate, a secure legacy compound, a healthcare facility, a destination landscaping business, or an exceptionally beautiful RV park. Highest use would suggest a planned eco-friendly (retirement) residential community of up to 140 units, with 50,000 commercial square feet.
Seller is flexible and creative.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 15, 2023 | Sold | ||
| Sold | |||
| Oct 7, 2023 | In contract | - | |
| In contract | |||
| Dec 6, 2022 | Listed by SAGE REAL ESTATE | $599,000 | |
| Listed by SAGE REAL ESTATE | |||
| Apr 17, 2022 | No longer available | - | |
| No longer available | |||
| Oct 14, 2021 | Price Increased |
$1,497,707
↑ $2M
(149,770,600%) | |
| Price Increased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017