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3034 Jefferson ST Marianna, FL 32446
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Key Details
Sold Price $4,500,000
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 51,814 sqft
Price per Sqft $86
MLS Listing ID 1054166
Sold Date 03/31/26
Total Fin. Sqft 51814
Year Built 2000
Annual Tax Amount $30,150
Tax Year 2024
Lot Size 4.430 Acres
Acres 4.43
Property Sub-Type Multi Family
Source Space Coast MLS (Space Coast Association of REALTORS®)
Land Area 51814
Property Description
The Grove has been decisively re-priced to $4.99M, creating one of the most compelling stabilized multifamily opportunities currently available in Northwest Florida. The seller is prioritizing qualified buyers capable of executing a Q1 closing .
The Grove is a 100% occupied, 44-unit apartment community that delivers strong in-place cash flow, immediate upside through a light value-add program, and long-term development optionality. Units lease in approximately one week, underscoring the depth of rental demand in this market.
At the new price, the property offers:
* $4.99M Purchase Price
* In-Place NOI: $383,133
* 7.66% Takeover Cap Rate
* 8.56% Year-One Cap Rate
(NOI modeled with updated property taxes and a new insurance quote)
This is not a heavy lift or speculative repositioning. The current owner has already demonstrated rent growth on-site, providing clear proof of concept for the next phase of upside.
Location
State FL
County Jackson
Area 999 - Out Of Area
Direction From Brevard County, take I-95 N to Jacksonville, merge onto I-10 W toward Tallahassee. Follow I-10 W ~224 miles, take Exit 142 for SR-71 N toward Marianna. Turn right on SR-71 N, then left on US-90 W/Jefferson St. Continue to 3034 Jefferson St., Marianna, FL. Total ~404 miles, about 6 hours.
Interior
Cooling Central Air
Exterior
Exterior Feature ExteriorFeatures
Parking Features Parking Lot
Utilities Available Water Connected
Roof Type Shingle
Present Use Multi-Family
Garage No
Building
Lot Description Many Trees
Sewer Public Sewer
Water Public
Others
Senior Community No
Tax ID 34-5n-10-0437-0000-0080
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Bought with Denovo Realty
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