Single-Story Apartment
For Sale
Contact for pricing
110 Southeast 8th Street, Gainesville, FL 32601
U3-zoned residential property with renovated interiors and tenant-paid utilities.
Property Size13,480 SF
Price / SF$155.79
Days on Market99
Property Features for 110 Southeast 8th Street
General Information
Standard status
Active
Size
13,480 SF
Class
B
Property subtype
Multifamily
Zoning
U3
Building Details
Year Built
1977
Listing Agency:
Lee & Associates Gainesville
(352) 664-2567
Listed By:
Brent Line · License #FL
Source:
Crexi
Added: May 25
Changed: Aug 30
Last Checked: Aug 30 at 8:50PM
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 Lee & Associates Gainesville
Investment Insights
Based on property information with market context.
This 14-unit apartment property comprises approximately 13,480 square feet on 1.25 acres in a single-story configuration. The unit mix includes twelve two-bedroom, one-bath residences and two two-bedroom, two-bath residences. Interior renovations have been completed in every unit within the past 10 years, and the roof was replaced in 2016.
The property is zoned U3 for residential use. Tenants are responsible for all utilities, establishing a straightforward utility arrangement for ownership. Located at 110 Southeast 8th Street in Gainesville, Florida, the community offers an established multifamily layout with consistent unit sizing and a clear two-bedroom focus.
The property is zoned U3 for residential use. Tenants are responsible for all utilities, establishing a straightforward utility arrangement for ownership. Located at 110 Southeast 8th Street in Gainesville, Florida, the community offers an established multifamily layout with consistent unit sizing and a clear two-bedroom focus.
Key Highlights
- 14‑unit apartment property totaling approximately 13,480 square feet
- 1.25‑acre site with a single‑story layout
- Unit mix: twelve 2‑bedroom/1‑bath units and two 2‑bedroom/2‑bath units
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
$118,754
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
5.65%
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%
$2,375,080
$2.4M
Cap Rate 7%
$1,696,486
$1.7M
Cap Rate 9%
$1,319,489
$1.3M
Market Conditions
NOI Build-Up for 13,480 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
$229.7K $17.04/SF
− Vacancy
−$13.8K −$1.02/SF
EGI
$215.9K $16.02/SF
− OpEx
−$97.2K −$7.21/SF
NOI
$118.8K $8.81/SF
Area
Gainesville, FL
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$2,375,080
Cap Rate 7%
$1,696,486
Cap Rate 9%
$1,319,489
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.48M – $1.98M
NOI $118,754 @ 7.0% cap · market cap 5.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M
NOI $233,711 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,558
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - U3-zoned residential property with renovated interiors and tenant-paid utilities.
Where is this apartment building located?
The property is located at 110 Southeast 8th Street Gainesville, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 14‑unit apartment property totaling approximately 13,480 square feet; 1.25‑acre site with a single‑story layout; Unit mix: twelve 2‑bedroom/1‑bath units and two 2‑bedroom/2‑bath units
