Renovated Brick
For Sale
$440,000
712 SW 70TH Ter, Gainesville, FL 32607
Renovated brick quadruplex with 2BD/1BA flats, updated kitchens and baths, and tenants paying all utilities.
Property Size4,278 SF
Price / SF$154.28
Days on Market19
Property Features for 712 SW 70TH Ter
General Information
Standard status
Active
Size
4,278 SF
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,289
Amenities
porch areas
Building Details
Building Size
4,278 SF
Year Built
1980
Construction
brick
Tenancy
Multi
Listing Agency:
THE MULTIFAMILY ADVISORS
(352) 514-4725
Listed By:
Joe Klenck · License #3555950
(352) 514-4725
Source:
Elliman
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 11 at 7:40AM
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 THE MULTIFAMILY ADVISORS
Investment Insights
Based on property information with market context.
This renovated brick quadruplex offers four 2-bedroom, 1-bath flats. Each unit features an open layout and has been updated with new kitchens and bathrooms, updated fixtures, and vinyl plank/tile flooring, along with porch areas. The property also includes a 2022 asphalt shingle roof and newer HVAC systems.
Tenants pay all utilities. Electric wiring is described as copper wire with Cutler Hammer and Square D breakers, and main plumbing drains are PVC. Plumbing supply lines are primarily copper with some instances of CPVC, described as in good condition with operable shutoff valves.
Located at the front of the Cedar Ridge subdivision of Gainesville, Florida, the property is within 5 miles of Oaks Mall, the University of Florida, and HCA North Florida Hospital, as well as several shopping centers and other amenities. This quad is being offered for sale along with two additional quadruplexes and one duplex in the same subdivision, with buildings also available individually or as part of a portfolio.
Tenants pay all utilities. Electric wiring is described as copper wire with Cutler Hammer and Square D breakers, and main plumbing drains are PVC. Plumbing supply lines are primarily copper with some instances of CPVC, described as in good condition with operable shutoff valves.
Located at the front of the Cedar Ridge subdivision of Gainesville, Florida, the property is within 5 miles of Oaks Mall, the University of Florida, and HCA North Florida Hospital, as well as several shopping centers and other amenities. This quad is being offered for sale along with two additional quadruplexes and one duplex in the same subdivision, with buildings also available individually or as part of a portfolio.
Key Highlights
- Renovated 1980 brick quadruplex with four 2BD/1BA flats and open layouts
- Each unit offers 713+/- SF of living space
- Unit updates include updated kitchens and bathrooms, new fixtures, and vinyl plank/tile flooring
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
$28,000
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
6.36%
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%
$560,000
$560.0K
Cap Rate 7%
$400,000
$400.0K
Cap Rate 9%
$311,111
$311.1K
Market Conditions
NOI Build-Up for 2,852 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
$42.8K $15.00/SF
− Vacancy
−$2.8K −$0.98/SF
EGI
$40.0K $14.03/SF
− OpEx
−$12.0K −$4.21/SF
NOI
$28.0K $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%
$560,000
Cap Rate 7%
$400,000
Cap Rate 9%
$311,111
Alternative Uses
Best Use
Multifamily LT 5
$400.0K
$350.0K – $466.7K
NOI $28,000 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$358.9K
$314.1K – $418.8K
NOI $25,125 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$706.4K
$618.1K – $824.1K
NOI $49,447 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 32607, FL
35,420
Population
16,465
Households
2.2
Avg Household Size
28
Median Age
53%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,811
Density / Sq Mi
$46,517
Median Household Income
$30,690
Median Earnings
$1,222
Median Rent
$297,800
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?
Quadplex - Renovated brick quadruplex with 2BD/1BA flats, updated kitchens and baths, and tenants paying all utilities.
Where is this quadplex located?
The property is located at 712 SW 70TH Ter Gainesville, FL.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Renovated 1980 brick quadruplex with four 2BD/1BA flats and open layouts; Each unit offers 713+/- SF of living space; Unit updates include updated kitchens and bathrooms, new fixtures, and vinyl plank/tile flooring
