Two-Section Retail
New
For Sale
$399,000
1820 NE 2ND, Gainesville, FL 32609
An accessible interior combines multiple rooms, a lobby and waiting area, and a separate office.
Property Size2,173 SF
Lot Size0.42 Acres
Price / SF$183.62
Days on Market3
Property Features for 1820 NE 2ND
General Information
Standard status
Active
Size
2,173 SF
Lot size
0.42 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,965
Amenities
handicap accessible
Building Details
Building Size
2,173 SF
Year Built
1976
Buildings
1
Construction
stucco
Listing Agency:
BHGRE THOMAS GROUP
Listed By:
Gigi Tajalli · License #3160332
(352) 281-0001
Source:
Elliman
Added: Sep 24
Last Checked: Sep 24 at 2:50PM
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 2,173 H/C-square-foot retail property occupies a 0.42-acre parcel and is arranged in two separate sections. One section has three small rooms, a larger room, a lobby and waiting area, plus a kitchen room. Its restrooms include two stalls in the ladies’ room and a shower in the men’s room. The other section contains a separate office and a recently constructed half bath. The building was built in 1976 and is handicap accessible.
Key Highlights
- Two separate sections within 2,173 H/C square feet
- 0.42‑acre parcel
- One section has three small rooms, one large room, a lobby, waiting area, and kitchen room
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
$23,040
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
5.77%
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%
$460,800
$460.8K
Cap Rate 7%
$329,143
$329.1K
Cap Rate 9%
$256,000
$256.0K
Market Conditions
NOI Build-Up for 2,173 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
$35.2K $16.20/SF
− Vacancy
−$2.3K −$1.05/SF
EGI
$32.9K $15.15/SF
− OpEx
−$9.9K −$4.54/SF
NOI
$23.0K $10.60/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$460,800
Cap Rate 7%
$329,143
Cap Rate 9%
$256,000
Alternative Uses
Best Use
Retail
$329.1K
$288.0K – $384.0K
NOI $23,040 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
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.
Property Analytics
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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
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - An accessible interior combines multiple rooms, a lobby and waiting area, and a separate office.
Where is this retail space located?
The property is located at 1820 NE 2ND 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: Two separate sections within 2,173 H/C square feet; 0.42‑acre parcel; One section has three small rooms, one large room, a lobby, waiting area, and kitchen room
