629 SW 9th St - Apartments FOR SALE


Gainesville, FL 32601- Innovation District
$20,000,000 USD
215-454-2879
629 SW 9th St, Gainesville, FL for Sale
$20,000,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

629 SW 9th St
Gainesville, FL 32601
Innovation District


HIGHLIGHTS

  • Purpose-Built Student Housing
  • Walking Distance to UF Campus
  • 100% Leased with 5% Rent Growth
  • Value-Add Upside on Interiors and Utilities
  • Zoning Allows for Additional Beds
  • Flagship High-Demand University; UF Ranked #7 Public School in U.S.

OVERVIEW

Global Real Estate Advisors (GREA), in cooperation with The Multifamily Advisors, exclusively presents Windsor Hall Student Living, a 114-unit, 200-bed purpose-built student housing community serving the University of Florida in Gainesville, Florida. Windsor Hall offers the opportunity to purchase a walkable-to-campus asset that is 100% leased, serving one of the largest and highest-rated Tier 1 public universities in the nation. Located within Sorority Row, the Property is a three-minute walk to the edge of the UF campus, closer to classes than many on-campus UF dorms. Residents can walk to Midtown eateries, student nightlife districts, The Swamp Restaurant, Ben Hill Griffin Stadium (home of UF Football), Stephen C. O'Connell Center (home of 2025 National Champions UF basketball), as well as to everyday conveniences including Publix, CVS, and public transit. Furthermore, the site sits between Downtown Gainesville and the University near the Innovation District, offering access to downtown nightlife, local boutiques, cafes, and restaurants, and cultural anchors including the Harn Museum of Art and the Phillips Center for the Performing Arts. The Property features 112 oversized dorm-style units with a mix of single studios, doubles, and triple-bed units, totaling 189 beds, as well as two fully renovated, historic-era detached homes, totaling 11 beds. The dorm-style units are ~60% larger than standard dorms and feature private kitchenettes and bathrooms, which are rare for this product type, resulting in outsized demand from students. Community amenities include a private resort-style pool with a newly replaced and refinished sun deck, a clubhouse/study lounge, high-demand reserved on-site parking, a package locker system, renovated common-area gourmet shared kitchens in each building, and laundry facilities on every floor, all within a tranquil, tree-lined neighborhood setting. Ownership is completing common area capital projects that will enhance the Property’s aesthetic inside and out, including new plank flooring in all hallways, all new paint in hallways and laundry rooms, and new entrance doors to each building. Windsor Hall has been a top-performing student property in the Gainesville market, sustaining 98%-99% occupancy in the 2024-25 and 2025-26 academic years and achieving 100% for 2026-27. Current rents reflect 5% growth over the prior year, on the heels of 4.2% growth achieved from 2024-25 to 2025-26. Windsor Hall offers multiple paths to additional NOI growth through low-risk interior unit upgrades and utility billback implementation. Simple renovations including new kitchenette cabinets, ceiling fans, new closet doors, bathroom panel doors, and new paint can support rent increases of $75 to $100 per bed, boosting NOI by $200,000. Secondly, Windsor Hall rents are currently inclusive of all utilities (electric, water and sewer, trash, Internet, pest control), with no reimbursement from residents. The off-campus student market typically has residents pay for electric, with many properties billing back for water and charging monthly fees for Internet, trash, and pest control. Implementing a utility reimbursement program and market fees provides a new owner a quick method to reduce expenses and grow NOI. UF is one of the largest and most prominent Flagship Tier 1 institutions in the U.S., ranking #7 among all national public universities and #30 among all schools by US News and World Report. UF enrolls over 56,000 students and continues to grow, with applications in 2025 growing 25% year-over-year, while still maintaining a selective acceptance rate of 24%. Combined with clearly identifiable value-add levers in unit interiors and utility recovery, and zoning that permits additional beds on site, Windsor Hall offers a new owner a stabilized, high-conviction cash flow stream with multiple paths to outsized NOI growth at a flagship, high-demand R-1 university.

FOR SALE DETAILS

PRICE

$20,000,000 USD

PRICE/SF

$405 USD /SF

# OF UNITS

114

PRICE/UNIT

$175,439

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Windsor Hall Student Living

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2000

PARKING SPACES

46

LAND DETAILS

LAND ACRES

1.65 AC

LAND SF

71,874 SF

ZONING

U9

APN/PARCEL ID

13430-000-000

ASK ABOUT THIS PROPERTY

215-454-2879

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215-454-2879

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