Mixed-Use Building with Retail
New
For Sale
$795,000
5214 SW 91ST, Gainesville, FL 32608
Two upper-level apartments complement commercial space on the ground floor.
Property Size3,240 SF
Days on Market3
Property Features for 5214 SW 91ST
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Commercial
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,094
Building Details
Building Size
3,240 SF
Year Built
2006
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
BHGRE THOMAS GROUP
Listed By:
Billy Bennett · License #3591407
(352) 514-9980
Source:
Elliman
Added: Oct 1
Last Checked: Oct 2 at 11:46PM
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 BHGRE THOMAS GROUP
Investment Insights
Based on property information with market context.
This 2006 mixed-use building contains four spaces across two floors. The ground level has two office or retail spaces, while the second floor includes two one-bedroom, one-bathroom apartments. A metal roof was installed recently, and exterior repairs were completed in 2025.
The property is in Haile Plantation Village Center in Gainesville. The center hosts a weekly farmers market and seasonal events, including Oktoberfest and a holiday light event.
The property is in Haile Plantation Village Center in Gainesville. The center hosts a weekly farmers market and seasonal events, including Oktoberfest and a holiday light event.
Key Highlights
- Four spaces: two ground‑floor office or retail units and two upstairs apartments
- Each apartment has one bedroom and one bathroom
- Built in 2006
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
$37,422
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
4.71%
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%
$748,440
$748.4K
Cap Rate 7%
$534,600
$534.6K
Cap Rate 9%
$415,800
$415.8K
Market Conditions
NOI Build-Up for 3,240 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
$68.0K $21.00/SF
− Vacancy
−$8.2K −$2.52/SF
EGI
$59.9K $18.48/SF
− OpEx
−$22.5K −$6.93/SF
NOI
$37.4K $11.55/SF
Area
Gainesville, FL
Vacancy
12.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$748,440
Cap Rate 7%
$534,600
Cap Rate 9%
$415,800
Alternative Uses
Best Use
Mixed Use
$534.6K
$467.8K – $623.7K
NOI $37,422 @ 7.0% cap · market cap 4.71%
Second Best
Retail
$490.8K
$429.4K – $572.6K
NOI $34,353 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$802.5K
$702.2K – $936.2K
NOI $56,174 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
337
Businesses Nearby
Explore this area
Business Placement
Demographics for 32608, FL
55,540
Population
25,939
Households
2.1
Avg Household Size
29
Median Age
58%
College-Educated
95%
High-School Grad
44.5 sq mi
ZIP Area
1,248
Density / Sq Mi
$60,182
Median Household Income
$34,991
Median Earnings
$1,357
Median Rent
$340,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upper-level apartments complement commercial space on the ground floor.
Where is this mixed-use property located?
The property is located at 5214 SW 91ST Gainesville, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Four spaces: two ground‑floor office or retail units and two upstairs apartments; Each apartment has one bedroom and one bathroom; Built in 2006
