Two-Section Mixed-Use
For Sale
$399,000
1820 NE 2ND ST, Gainesville, FL 32609
Two distinct interior sections include accessible customer areas, multiple rooms, and a separate office.
Property Size2,173 SF
Lot Size0.42 Acres
Price / SF$183.62
Days on Market1102
Property Features for 1820 NE 2ND ST
General Information
Standard status
Active
Size
2,173 SF
Lot size
0.42 Acres
Property subtype
Mixed Use
Additional Details
Property Use
Retail
Taxes and HOA fees
Annual Taxes
$4,965
Building Details
Building Size
2,173 SF
Year Built
1976
Buildings
1
Construction
stucco
Listing Agency:
Side
Listed By:
Arista Realty
(352) 538-1092
Source:
Aristarealty
Added: Oct 23, 2023
Changed: Oct 27
Last Checked: Oct 26 at 9:18AM
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 Side
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This stucco mixed-use building contains 2,173 H/C square feet on a 0.42-acre site and was built in 1976. Its layout is divided into two distinct sections. One has a lobby and waiting area, three smaller rooms, a larger room, and a kitchen room. Restroom features include two stalls in the women's room and a shower in the men's room. The building is handicap accessible.
The second section is configured as a separate office with a newly built half bath. The property is located at 1820 NE 2nd St in Gainesville, Florida.
The second section is configured as a separate office with a newly built half bath. The property is located at 1820 NE 2nd St in Gainesville, Florida.
Key Highlights
- 2,173 H/C square feet on 0.42 acre
- Two separate interior sections
- Handicap accessible
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,098
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$501,960
$502.0K
Cap Rate 7%
$358,543
$358.5K
Cap Rate 9%
$278,867
$278.9K
Market Conditions
NOI Build-Up for 2,173 SF
Gross rent
$45.6K $21.00/SF
− Vacancy
−$5.5K −$2.52/SF
EGI
$40.2K $18.48/SF
− OpEx
−$15.1K −$6.93/SF
NOI
$25.1K $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 Rate 5%
$501,960
Cap Rate 7%
$358,543
Cap Rate 9%
$278,867
Alternative Uses
Best Use
Mixed Use
$358.5K
$313.7K – $418.3K
NOI $25,098 @ 7.0% cap · market cap 6.29%
Second Best
Retail
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$538.2K
$470.9K – $627.9K
NOI $37,675 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
160k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 32%
Groceries 25%
Apparel 2%
Publix
Groceries
40,701 visits/mo
0.4 miles
Circle K
Shops & Services
18,580 visits/mo
0.3 miles
Ollie's Bargain Outlet
Shops & Services
16,436 visits/mo
0.4 miles
Wendy's
Dining
15,258 visits/mo
0.2 miles
Burger King
Dining
13,417 visits/mo
0.3 miles
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two distinct interior sections include accessible customer areas, multiple rooms, and a separate office.
Where is this mixed-use property located?
The property is located at 1820 NE 2ND ST Gainesville, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,173 H/C square feet on 0.42 acre; Two separate interior sections; Handicap accessible
