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

    1720 W University Ave Gainesville, FL 32603

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $99,000

    Restaurant space near University of Florida with high foot traffic.

    Lot size:
    0.25 Acres

    Property Features for 1720 W University Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.25 Acres

    Building Details

    Year built
    1958

    We can help!

    Listing Contact
    Craig Carter
    Craig Carter
    Source: Elliman

    Listing Agency: COLDWELL BANKER M.M. PARRISH REALTORS Listing Agent: Craig Carter

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

    Learn more

    Overview

    Turn-Key Restaurant Space Near UF

    This turn-key restaurant space is located steps from the University of Florida campus on University Avenue, a primary traffic corridor. The location benefits from high foot traffic, direct exposure, and high visibility. The surrounding area includes high-density student housing. The space was occupied by the same tenant for 23 years, indicating stable, student-led foot traffic.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

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

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

    Similar Places Nearby

    Fresh Food Company

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3454264
    Latitude
    29.6521936

    Nearby Similar for Lease

    • New
      $15 SF/Yr
      29,204 SF

      Gainesville Office Space For Lease

      Professional office space in a high-traffic, convenient Gainesville location.
      4424 NW 13Th St, Gainesville, FL 32609
      View Details
    • New
      $15 SF/Yr
      29,204 SF

      Gainesville Office Space For Lease

      Professional office space in a high-traffic, convenient Gainesville location.
      4424 NW 13Th St, Gainesville, FL 32609
      View Details
    • New
      $15 SF/Yr
      29,204 SF

      Gainesville Office Space For Lease

      Professional office space in a high-traffic, convenient Gainesville location.
      4424 NW 13Th St, Gainesville, FL 32609
      View Details
    • New
      $15 SF/Yr
      29,204 SF

      Gainesville Office Space For Lease

      Professional office space in a highly visible, convenient Gainesville location.
      4424 NW 13Th St, Gainesville, FL 32609
      View Details
    • $12 SF/Yr
      3,700 SF

      Gainesville Office Space Available

      Office building with flexible floor plans and ample parking.
      1405 NW 13Th St, Gainesville, FL 32601
      View Details
    • $11 SF/Yr
      4,527 SF

      Gainesville Office Space For Rent

      Office building with flexible floor plans and ample parking.
      1405 NW 13Th St, Gainesville, FL 32601
      View Details
    • $2,015 /Mo
      806 SF

      Renovated Office Space For Lease

      Newly renovated office space near UF Innovation Hub available for lease.
      225 SW 7Th Ter, Gainesville, FL 32601
      View Details
    • $15 SF/Yr
      2,102 SF

      Retail Space Near UF

      Retail and office spaces near Downtown and UF. Available for lease.
      3501 SW 2Nd Ave, Gainesville, FL 32607
      View Details
    • $2,603 /Mo
      1,034 SF

      Renovated Office Space Near UF

      Newly renovated office suite near UF Innovation Hub for lease.
      225 SW 7Th Ter, Gainesville, FL 32601
      View Details
    • New
      $17 SF/Yr
      1,536 SF

      Move-in Ready Gainesville Office Space

      Professional office in park-like setting, prime Gainesville location.
      2750 NW 43Rd St, Gainesville, FL 32606
      View Details
    • $2,540 /Mo
      1,016 SF

      Renovated Office Space For Lease

      Newly renovated office space near UF Innovation Hub available for lease.
      225 SW 7Th Ter, Gainesville, FL 32601
      View Details
    • $12 SF/Yr
      7,250 SF

      Gainesville Freestanding Medical Office Space

      Well-designed medical office near HCA Healthcare, I-75, and Oaks Mall.
      1034 NW 57Th St, Gainesville, FL 32605
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant space near University of Florida with high foot traffic.
    Where is this conventional restaurant located?
    The property is located at 1720 W University Ave Gainesville, FL.
    What is the lease rate?
    The lease rate is $99,000.
    What are key features of this property?
    This property features: - Prime location directly across from the University of Florida campus on University Avenue.; - High foot traffic and visibility due to its location in a critical business corridor.; - Turn-key restaurant space ready for immediate operation.
    (352) 335-4999
    Request Owner's contact information
    1720 W University Ave Gainesville, FL 32603
    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.
    1720 W University Ave
    Gainesville, FL 32603
    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
    1720 W University Ave Gainesville, FL 32603
    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
    Craig Carter
    Craig Carter
    Real Estate License ID: 3346602
    (352) 335-4999 (352) 339-4038
    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!