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    Gainesville Condo Near University of Florida Title is generated by Realmo AI

    2360 SW ARCHER ROAD 914, Gainesville, FL 32608

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    Claim this Listing
    For Sale
    $150,000

    Well-maintained 2-bedroom, 2-bathroom condo near UF campus.

    Type:Condo/Townhome
    Property size:
    888 SF
    Price / SF:
    $168/SF
    Added:
    Feb 21, 2025
    Days on Market:
    469
    Last Refresh:
    May 19 at 10:53 pm

    Property Features for 2360 SW ARCHER ROAD 914

    General Information

    Standard status
    Active
    Size
    888 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1996

    We can help!

    Listing Contact
    Jamie Vascotto
    Jamie Vascotto

    Listing agent Jamie Vascotto License #3272214

    Listing office REAL BROKER, LLC

    Listing date Feb 21, 2025

    Source Exitrealty

    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 REAL BROKER, LLC

    HighLights

    • Unbeatable location: Steps from the University of Florida campus and UF Health Shands Hospital.
    • Two bedrooms and two full bathrooms for privacy and convenience.
    • Enjoy the resort‑style swimming pool and 24‑hour fitness center.
    • Modern kitchen with appliances included and in‑unit washer and dryer.
    • New roof (replaced by the Association) and new hot water heater being installed next month.
    • On‑site management and security, plus ample parking for residents and guests.

    Overview

    This well-maintained condo features 2 bedrooms and 2 bathrooms, offering a spacious open floor plan with natural lighting. Each of the two large bedrooms includes ample closet space. The modern kitchen comes equipped with appliances, and an in-unit washer and dryer provide added convenience. A private porch offers space for relaxation. Hot water is being replaced next month. The roof was recently replaced by the Association. Community amenities include a resort-style swimming pool, a 24-hour fitness center, and a clubhouse with study areas and high-speed Wi-Fi. Ample resident and guest parking is available, along with on-site management and security. The community is pet-friendly, with restrictions. Located near the University of Florida campus and UF Health Shands Hospital, the property is also close to shopping centers, dining options, and entertainment venues, with easy access to public transportation and major roadways. The property size is 888 square feet. This property is located in Gainesville, Florida.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $15.1k $17.04
    − Vacancy −$908 −$1.02
    EGI $14.2k $16.02
    − OpEx −$6.4k −$7.21
    NOI $7.8k $8.81
    888 SF · lease $17.04/SF/yr · vacancy 6.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $111.8K
    $97.8K – $130.4K (±1% cap)
    NOI $7,823 @ 7.0% cap · market cap 5.22%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $219.9K
    $192.5K – $256.6K (±1% cap)
    NOI $15,396 @ 7.0% cap · market cap 10.26%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Campus Edge Condominiums Condominium Complex

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Auto Repair Shop Big Box & Wholesale Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.358134
    Latitude
    29.6373692

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    FAQs

    What type of property is this?
    Residential income property - Well-maintained 2-bedroom, 2-bathroom condo near UF campus.
    Where is this residential income property located?
    The property is located at 2360 SW ARCHER ROAD 914 Gainesville, FL.
    What is the asking price?
    The asking price for this property is $150,000.
    What are key features of this property?
    This property features: Unbeatable location: Steps from the University of Florida campus and UF Health Shands Hospital.; Two bedrooms and two full bathrooms for privacy and convenience.; Enjoy the resort‑style swimming pool and 24‑hour fitness center.
    (352) 317-3063
    We can help!
    Listing Contact
    Jamie Vascotto
    Jamie Vascotto
    Real Estate License ID: 3272214
    Learn More
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    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.

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