Two-Story Duplex with
For Sale
$675,000
1102 NW 3rd Ave, Gainesville, FL 32601
Main building includes original hardwood floors, full kitchens, in-unit laundry, and separate living areas.
Property Size2,826 SF
Price / SF$238.85
Days on Market42
Property Features for 1102 NW 3rd Ave
General Information
Standard status
Active
Size
2,826 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1958
Buildings
2
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS
(352) 335-4999
Listed By:
Luis Rodriguez · License #3463219
Source:
Whitneyperkinsteam
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 7:55PM
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 COLDWELL BANKER M.M. PARRISH REALTORS
Investment Insights
Based on property information with market context.
This two-story duplex property includes two three-bedroom, one-bath units within the main building, plus a detached one-bedroom, one-bath efficiency. The combined property size is 2,826 square feet, with each duplex unit offering a dedicated living area, full kitchen, and in-unit laundry setup. Original hardwood flooring, large living spaces, and abundant natural light add character to the interior layout.
Built in 1958, the property is located at 1102 NW 3rd Ave in Gainesville, Florida. The site also includes mature trees and off-street parking, while the detached efficiency provides a separate residential space apart from the primary duplex.
Built in 1958, the property is located at 1102 NW 3rd Ave in Gainesville, Florida. The site also includes mature trees and off-street parking, while the detached efficiency provides a separate residential space apart from the primary duplex.
Key Highlights
- Two‑story duplex with two 3‑bedroom, 1‑bath units
- Detached 1‑bedroom, 1‑bath efficiency
- 2,826 square feet of combined property size
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
$27,744
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
4.11%
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%
$554,880
$554.9K
Cap Rate 7%
$396,343
$396.3K
Cap Rate 9%
$308,267
$308.3K
Market Conditions
NOI Build-Up for 2,826 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
$42.4K $15.00/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$39.6K $14.03/SF
− OpEx
−$11.9K −$4.21/SF
NOI
$27.7K $9.82/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$554,880
Cap Rate 7%
$396,343
Cap Rate 9%
$308,267
Alternative Uses
Best Use
Multifamily LT 5
$396.3K
$346.8K – $462.4K
NOI $27,744 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$355.7K
$311.2K – $414.9K
NOI $24,896 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$699.9K
$612.5K – $816.6K
NOI $48,996 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,732
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?
Duplex - Main building includes original hardwood floors, full kitchens, in-unit laundry, and separate living areas.
Where is this duplex located?
The property is located at 1102 NW 3rd Ave Gainesville, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑story duplex with two 3‑bedroom, 1‑bath units; Detached 1‑bedroom, 1‑bath efficiency; 2,826 square feet of combined property size
