Mixed-Use Property with Retail
For Sale
Contact for pricing
1017 W UNIVERSITY AVE, Gainesville, FL 32601
Commercial space along University Avenue near the University of Florida, Downtown Gainesville, Midtown, and established surrounding neighborhoods.
Property Size10,441 SF
Price / SF$354.37
Days on Market11
Property Features for 1017 W UNIVERSITY AVE
General Information
Standard status
Active
Size
10,441 SF
Class
A
Property subtype
Hospitality, Mixed Use, Retail
Zoning
U9
Lease Type
Gross
Investment Type
Institutional
Additional Details
Traffic Count
24,000 vehicles/day
Building Details
Year Built
1964
Stories
2
Units
1
Tenancy
Multi
Listing Agency:
Smith & Associates
(352) 222-4850
Listed By:
Son Hai Vo · License #SL3372693
Source:
Crexi
Added: Aug 12
Changed: Aug 18
Last Checked: Aug 22 at 8:07AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Smith & Associates
Investment Insights
Based on property information with market context.
This mixed-use commercial property contains 10,441 square feet and was built in 1964. The asset is positioned along University Avenue and offers a format suited to retail, service, office, or other commercial uses identified in the property information. Zoning is U9, and the site is available for sale with leasing also presented as an option.
The property is located near the University of Florida and benefits from its Gainesville setting near Downtown, Midtown, surrounding residential areas, established retail and dining, and student activity. University Avenue carries approximately 24,000 vehicles per day, providing measurable exposure for a business seeking a centrally located commercial presence.
The property is located near the University of Florida and benefits from its Gainesville setting near Downtown, Midtown, surrounding residential areas, established retail and dining, and student activity. University Avenue carries approximately 24,000 vehicles per day, providing measurable exposure for a business seeking a centrally located commercial presence.
Key Highlights
- 10,441‑square‑foot mixed‑use commercial property
- Approximately 24,000 vehicles per day along University Avenue
- Built in 1964
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
$120,594
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
3.26%
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%
$2,411,880
$2.4M
Cap Rate 7%
$1,722,771
$1.7M
Cap Rate 9%
$1,339,933
$1.3M
Market Conditions
NOI Build-Up for 10,441 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
$219.3K $21.00/SF
− Vacancy
−$26.3K −$2.52/SF
EGI
$192.9K $18.48/SF
− OpEx
−$72.4K −$6.93/SF
NOI
$120.6K $11.55/SF
Area
Gainesville, FL
Vacancy
12.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,411,880
Cap Rate 7%
$1,722,771
Cap Rate 9%
$1,339,933
Alternative Uses
Best Use
Mixed Use
$1.72M
$1.51M – $2.01M
NOI $120,594 @ 7.0% cap · market cap 3.26%
Second Best
Retail
$1.58M
$1.38M – $1.85M
NOI $110,705 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$2.59M
$2.26M – $3.02M
NOI $181,022 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,644
Businesses Nearby
170k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Groceries 31%
Shops & Services 10%
Electronics 2%
Publix
Groceries
52,406 visits/mo
0.2 miles
McDonald's
Dining
28,636 visits/mo
0.1 miles
Krispy Kreme Doughnuts
Dining
22,825 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
15,504 visits/mo
0.4 miles
Checkers
Dining
11,606 visits/mo
0.1 miles
Demographics for 32601, FL
22,039
Population
11,204
Households
2
Avg Household Size
27
Median Age
62%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
4,791
Density / Sq Mi
$30,878
Median Household Income
$18,954
Median Earnings
$1,092
Median Rent
$284,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space along University Avenue near the University of Florida, Downtown Gainesville, Midtown, and established surrounding neighborhoods.
Where is this mixed-use property located?
The property is located at 1017 W UNIVERSITY AVE Gainesville, FL.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 10,441‑square‑foot mixed‑use commercial property; Approximately 24,000 vehicles per day along University Avenue; Built in 1964
