Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    618 S Main St Gainesville, FL 32601

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,250,000

    2.8 acre tract zoned U6 with development potential.

    Lot size:
    2.81 Acres

    Property Features for 618 S Main St

    General Information

    Lot size
    2.81 Acres

    Building Details

    Year built
    1949

    We can help!

    Listing Contact
    Rory Causseaux
    Rory Causseaux
    Source: Lee-associates

    Listing Agency: Colliers | Gainesville Listing Agent: Rory Causseaux

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Gainesville Land Investment Opportunity

    Located at 618 S Main St in Gainesville, FL, this 2.8-acre tract presents an investment opportunity. The property, zoned U6, features frontage on South Main Street to the east, WS 6th Avenue to the north, and SW 2nd Street to the west. Situated in the northwest quadrant of South Main Street and Depot Avenue, the location is near Downtown, Depot Park, the Innovation District, and the University of Florida campus. The U6 zoning permits up to 50 units per acre development density, allowing for 4 stories by right and 5 stories by Special Use Permit. In addition to multi-family use, many non-residential and commercial uses are permitted. The property lies within the Gainesville CRA and the Opportunity Zone, making it suitable for a multi-family or mixed-use investor.
    Location Intelligence

    Current Use by Public Records

    Gainesville Arts Studio Art Studio Portal Realty Brokerage Real Estate Agency Medical Dictate Physician Ballatore Strength Gym & Fitness Center Apartment Graphics (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3252137
    Latitude
    29.6458907

    Nearby Similar for Sale

    • $625,000
      Pending

      Gainesville Industrial Opportunity Zone Parcels

      Three contiguous parcels with office buildings and vacant industrial lot.
      2720 NE 20Th Way, Gainesville, FL 32609
      View Details
    • New
      $600,000
      1,584 SF

      Gainesville Dental Practice with Real Estate

      Turnkey dental practice with real estate included in Gainesville, Florida.
      4130 NW 37Th Pl, Gainesville, FL 32606
      View Details
    • New
      $400,000
      Pending

      Gainesville Office Building For Sale

      2,104 SF professional office building in a desirable location.
      2830 NW 41St St, Gainesville, FL 32606
      View Details
    • New
      $1,700,000
      Pending

      Gainesville Restaurant with Hibachi Stations

      Freestanding, fully equipped restaurant near Newberry Road and I-75.
      526 NW 60Th St, Gainesville, FL 32607
      View Details
    • $950,000
      5,881 SF

      Gainesville Office Investment Opportunity

      Office investment property located near the University of Florida.
      1103 NW 13Th St, Gainesville, FL 32601
      View Details
    • $375,000
      Pending

      Professional Office Building For Sale

      Attractive office building near University of Florida, move-in ready.
      17 NW 33Rd Ct, Gainesville, FL 32607
      View Details
    • $598,000
      1,849 SF

      Gainesville Professional Office Space

      Professional office space near University of Florida with flexible zoning.
      1216 NW 9Th Ave, Gainesville, FL 32601
      View Details
    • $280,000
      2,093 SF

      Retail Space in Thornebrook Village

      Retail suite in walkable Thornebrook Village, immediate income opportunity.
      2441 NW 43Rd St, Gainesville, FL 32606
      View Details
    • $350,000
      0.20 Acres

      Haile Plantation Mixed-Use Opportunity

      0.2-acre lot in Haile Plantation's commercial district.
      2611 SW 87Th Dr, Gainesville, FL 32608
      View Details
    • $419,000
      2,134 SF

      Renovated Retail/Office Space, Gainesville

      Professionally renovated 2,134 SF space ideal for retail/office.
      2441 NW 43Rd St, Gainesville, FL 32606
      View Details
    • New
      $5,400,000
      23,674 SF

      Gainesville Retail Investment Opportunity

      Fully leased shopping center in a high-demand commercial corridor.
      618 NW 60Th St, Gainesville, FL 32607
      View Details
    • $249,000
      1,671 SF

      Redecorated Office in Professional Complex

      Professional office space with five private offices and ample parking.
      1204 NW 69Th Ter, Gainesville, FL 32605
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.8 acre tract zoned U6 with development potential.
    Where is this commercial land located?
    The property is located at 618 S Main St Gainesville, FL.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: - 2.8 acre tract with substantial street frontage on South Main Street.; - Zoned U6, permitting up to **50 units per acre development density**.; - U6 zoning allows **4 stories by right** and 5 stories by Special Use Permit.
    (352) 317-6341
    Request Owner's contact information
    618 S Main St Gainesville, FL 32601
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    618 S Main St
    Gainesville, FL 32601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    618 S Main St Gainesville, FL 32601
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rory Causseaux
    Rory Causseaux
    (352) 317-6341 (352) 254-3304 (352) 420-9889
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!