3034 Jefferson ST Active Save Request In-Person Tour Request Virtual Tour
Marianna,FL 32446
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 51,814 sqft
Price per Sqft $106
MLS Listing ID 1054166
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®)
Property Description
Discover The Grove Townhome Apartments — A Proven Performer with Compelling Upside. The Grove is a stabilized, 44-unit B-Class community on 4.43 acres of R-3 zoned land in Marianna, FL, offering both strong in-place cash flow and meaningful value-add potential. Recent $800K+ in renovations have enhanced curb appeal and efficiency. The property is 100% occupied, with units leasing in under a week, underscoring local demand. Income upside is immediate: NOI is projected to rise 17.5% by 2026 through market rent adjustments, converting month-to-month tenants, and upgrading the seven remaining 2BR units to 3BR layouts proven to command premiums. Zoning permits up to 70 units, supporting long-term expansion. Ideally located near I-10, Family Dollar, Jackson Hospital, and Chipola College, The Grove benefits from 28% projected job growth and strong demand for affordable 3BR rentals under $1,500. With its solid mix, development potential, and detailed financials available,
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
Inclusions Building & Land
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
Virtual Tour https://www.propertypanorama.com/instaview/spc/1054166