Avi Stern, Steve Sarrell And Miles Galvin Acquire Industrial Portfolio In Gainesville For $2.36M
3737 Southwest 42nd Avenue
$2,360,000
$78/SF
Building Size
30,000 SF
Asset Type
Industrial
Closing
Apr 15, 2026
AI
The property asset involved in this transaction is an industrial portfolio located at 3737 Southwest 42nd Avenue in Gainesville. The sale price was $2,360,000, with a total square footage of approximately 30,000 SF, translating to a price per square foot of $78.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $2,360,000
- Address: 3737 Southwest 42nd Avenue
- Market: Gainesville
- Square Footage: 30,000 SF
- Price per Square Foot: $78
- Buyer: Avi Stern, Steve Sarrell & Miles Galvin
- Seller: Santa Fe College Foundation
The deal was represented by Mia Real Holdings, marking their second acquisition in the Gainesville market. The portfolio features strong in-place tenancy, offering potential for increased revenue through rent adjustments and operational enhancements.
Players
Gainesville Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.72%
Cash-on-Cash
-1.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93