Urban 2 Triplex
621 NW 11TH AVENUE Gainesville, FL 32601
For Sale
$690,000
Pending
Triplex property on a parcel zoned Urban 2, positioned near major Gainesville institutions and downtown.
Property Size2,862 SF
Lot Size0.34 Acres
Days on Market744
Property Features for 621 NW 11TH AVENUE
General Information
Standard status
Pending
Size
2,862 SF
Lot size
0.34 Acres
Property subtype
Multi Family
Building Details
Year Built
1965
Listing Agency:
KELLER WILLIAMS GAINESVILLE REALTY PARTNERS
(352) 256-8893
Listed By:
Felicia Shenbanjo · License #3513922
(352) 256-8893
Source:
Exitrealty
Added: Jul 14, 2024
Changed: Jul 23
Last Checked: Jul 27 at 5:08AM
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 KELLER WILLIAMS GAINESVILLE REALTY PARTNERS
Investment Insights
Based on property information with market context.
This multifamily triplex offers a single investment asset with multiple living options. The property sits on a 0.34-acre parcel and is zoned Urban 2 Triplex. At 621 NW 11th Avenue, the building is presented as a residential income opportunity for buyers seeking rental housing within one ownership structure.
The triplex is located in Gainesville with convenient access to area destinations, including UF Health TraumaOne Trauma Center, the VA Hospital, Santa Fe College Charles L. Blount Center, downtown Gainesville, and the University of Florida campus.
The triplex is located in Gainesville with convenient access to area destinations, including UF Health TraumaOne Trauma Center, the VA Hospital, Santa Fe College Charles L. Blount Center, downtown Gainesville, and the University of Florida campus.
Key Highlights
- Triplex on a 0.34‑acre parcel zoned Urban 2
- Year built: 1965
- Located near UF Health TraumaOne Trauma Center, VA Hospital, and Santa Fe College Charles L. Blount Center
Financial Insights For Multifamily LT 5
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 | $42.9k | $15.00 |
| − Vacancy | −$2.8k | −$0.98 |
| EGI | $40.1k | $14.03 |
| − OpEx | −$12.0k | −$4.21 |
| NOI | $28.1k | $9.82 |
2,862 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$401.4K
$351.2K – $468.3K
NOI $28,098 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$360.2K
$315.2K – $420.2K
NOI $25,213 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$708.9K
$620.3K – $827.0K
NOI $49,620 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Triplex property on a parcel zoned Urban 2, positioned near major Gainesville institutions and downtown.
Where is this triplex located?
The property is located at 621 NW 11TH AVENUE Gainesville, FL.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Triplex on a 0.34‑acre parcel zoned Urban 2; Year built: 1965; Located near UF Health TraumaOne Trauma Center, VA Hospital, and Santa Fe College Charles L. Blount Center
