Fully Leased Gainesville Shopping
For Sale
$4,900,000
Pending
618 NW 60TH Street, Gainesville, FL 32607
Commercial Sale, GAINESVILLE, FL
Property Size23,674 SF
Lot Size2.27 Acres
Days on Market202
Property Features for 618 NW 60TH Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
BUS
Window features
Display Window(s)
Lot features
Central Business District, Landscaped, Near Public Transit, Shopping Center, Sidewalk, Street Lights, Paved
Directions
From Newberry Rd and I-75, head East, turn right after Panda Express onto NW 60th St, turn right into McAlisters parking lot.
Subdivision
32607 - Gainesville
Standard status
Pending
APN
06655-002-009
Size
23,674 SF
Lot size
2.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM NE COR SEC S 49.55 FT TO S R/W LINE SR-26 W ALG R/W 288.50 FT S 291.38 FT SLY ALG CURVE 37.67 FT S 5 DEG E 108.61 FT TO POB CONT S 5 DEG E 165.90 FT W 311.56 FT N 165 FT E 294.56 TO POB ALSO COM NE COR SEC S 49.55 FT W 288.50 FT S 267 FT POB S 24 .38 FT SLY ALG CURVE 37.65 FT S 5 DEG E 108.61 FT W 294.56 FT N 170 FT E 281.50 FT POB OR 4160/0950
Tax Annual Amount
74977
Legal Description
COM NE COR SEC S 49.55 FT TO S R/W LINE SR-26 W ALG R/W 288.50 FT S 291.38 FT SLY ALG CURVE 37.67 FT S 5 DEG E 108.61 FT TO POB CONT S 5 DEG E 165.90 FT W 311.56 FT N 165 FT E 294.56 TO POB ALSO COM NE COR SEC S 49.55 FT W 288.50 FT S 267 FT POB S 24 .38 FT SLY ALG CURVE 37.65 FT S 5 DEG E 108.61 FT W 294.56 FT N 170 FT E 281.50 FT POB OR 4160/0950
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1996
Floors in Building
1
Number of units
8
Flooring type
Vinyl, Tile - Ceramic, Tile
Building materials
Block, Concrete, Stucco
Roof type
Built-Up
Listing Agency:
FIRST CHOICE REALTY OF NORTH FLORIDA LLC
(352) 514-9508
Listed By:
Dawn Johnson · License #3100360
(352) 514-9508
Added: Feb 9
Changed: Aug 24
Last Checked: Aug 30 at 1:06AM
MLS# GC537245
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This shopping center occupies approximately 2.27 acres and was built in 1996. The property is zoned BUS and includes block, concrete, and stucco construction, ceramic tile, tile and vinyl flooring, central heating, heat-pump heating, central air, a built-up roof, public water, and public sewer. The center was 100% occupied at the time of listing, with tenants including McAlister's Deli, The HoneyBaked Ham Company, Blackadder Brewing Company, Painting with a Twist, and other food and service users.
Located at 618 NW 60th Street in Gainesville, the property sits just off Newberry Road, behind McDonald's and adjacent to Hobby Lobby. Oaks Mall, the University of Florida, North Florida Regional Medical Center, BJ's Restaurant, and additional retail, dining, and service businesses are nearby. I-75 is also conveniently accessible from the property.
Located at 618 NW 60th Street in Gainesville, the property sits just off Newberry Road, behind McDonald's and adjacent to Hobby Lobby. Oaks Mall, the University of Florida, North Florida Regional Medical Center, BJ's Restaurant, and additional retail, dining, and service businesses are nearby. I-75 is also conveniently accessible from the property.
Key Highlights
- Approximately 2.27‑acre shopping center at 618 NW 60th Street, Gainesville, FL
- 100% occupied at the time of listing
- Zoned BUS and constructed in 1996
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$251,013
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,020,260
$5.0M
Cap Rate 7%
$3,585,900
$3.6M
Cap Rate 9%
$2,789,033
$2.8M
Market Conditions
NOI Build-Up for 23,674 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$383.5K $16.20/SF
− Vacancy
−$24.9K −$1.05/SF
EGI
$358.6K $15.15/SF
− OpEx
−$107.6K −$4.54/SF
NOI
$251.0K $10.60/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,020,260
Cap Rate 7%
$3,585,900
Cap Rate 9%
$2,789,033
Alternative Uses
Best Use
Retail
$3.59M
$3.14M – $4.18M
NOI $251,013 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.86M
$5.13M – $6.84M
NOI $410,450 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,738
Businesses Nearby
480k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 27%
Apparel 24%
Groceries 2%
Hobby Lobby
Shops & Services
55,462 visits/mo
0.1 miles
JCPenney
Apparel
42,071 visits/mo
0.3 miles
Belk
Apparel
41,818 visits/mo
0.2 miles
Starbucks
Dining
39,553 visits/mo
0.4 miles
McDonald's
Dining
36,942 visits/mo
0.1 miles
Demographics for 32607, FL
35,420
Population
16,465
Households
2.2
Avg Household Size
28
Median Age
53%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,811
Density / Sq Mi
$46,517
Median Household Income
$30,690
Median Earnings
$1,222
Median Rent
$297,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tower Center — NW 4th Blvd, Gainesville, FL 32607
- Oaks Square — 6837 W Newberry Rd, Gainesville, FL 32605
- Sunglass Hut — 6241 W Newberry Rd, Gainesville, FL 32605
- The Oaks Mall — 6419 W Newberry Rd, Gainesville, FL 32605
- Hobby Box Cards | Vending Machine — 6419 W Newberry Rd, Gainesville, FL 32605
Frequently Asked Questions
What type of property is this?
Shopping center - Established retail center with diversified food, beverage, and service tenants near major retail and employment destinations.
Where is this shopping center located?
The property is located at 618 NW 60TH Street Gainesville, FL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Approximately 2.27‑acre shopping center at 618 NW 60th Street, Gainesville, FL; 100% occupied at the time of listing; Zoned BUS and constructed in 1996
