Warehouse Property with Multiple
New
For Sale
$2,195,000
2623 NW 74TH PLACE, Gainesville, FL 32653
Two secured metal buildings offer divided commercial space under I-2 zoning.
Property Size16,800 SF
Lot Size1.24 Acres
Price / SF$124.72
Days on Market5
Property Features for 2623 NW 74TH PLACE
General Information
Standard status
Active
Size
16,800 SF
Lot size
1.24 Acres
Property subtype
Warehouse
Zoning
I-2
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Warehouse Space
16,800 SF
Building Details
Year Built
1978
Buildings
2
Building Size
16,800 SF
Construction
metal
Listing Agency:
WATSON REALTY CORP- TIOGA
(352) 224-2600
Listed By:
Kristi Crane · License #3363813
(352) 538-2882
Source:
Endlesssummerrealty
Added: Oct 2
Changed: Oct 4
Last Checked: Oct 5 at 7:30PM
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 WATSON REALTY CORP- TIOGA
Investment Insights
Based on property information with market context.
Two metal warehouse buildings provide 9+ individual bays across a 1.24±-acre industrial property. The site is gated, and the buildings date to 1978. Active businesses currently operate on the property, which is zoned I-2.
At 2623 NW 74TH PLACE in Gainesville, the property is located just off US Highway 441 in an established business corridor. Commercial and industrial businesses operate in the surrounding area.
At 2623 NW 74TH PLACE in Gainesville, the property is located just off US Highway 441 in an established business corridor. Commercial and industrial businesses operate in the surrounding area.
Key Highlights
- Two metal warehouse buildings with 9+ individual bays
- 1.24± acres with I‑2 zoning
- Gated property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,581
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,571,620
$2.6M
Cap Rate 7%
$1,836,871
$1.8M
Cap Rate 9%
$1,428,678
$1.4M
Market Conditions
NOI Build-Up for 17,600 SF
Gross rent
$158.4K $9.00/SF
− Vacancy
−$7.1K −$0.41/SF
EGI
$151.3K $8.59/SF
− OpEx
−$22.7K −$1.29/SF
NOI
$128.6K $7.31/SF
Area
Gainesville, FL
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,571,620
Cap Rate 7%
$1,836,871
Cap Rate 9%
$1,428,678
Alternative Uses
Best Use
Warehouse
$1.84M
$1.61M – $2.14M
NOI $128,581 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.36M
$3.81M – $5.09M
NOI $305,142 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32653, FL
14,397
Population
6,746
Households
2.1
Avg Household Size
45
Median Age
52%
College-Educated
97%
High-School Grad
38.5 sq mi
ZIP Area
374
Density / Sq Mi
$97,700
Median Household Income
$52,523
Median Earnings
$1,130
Median Rent
$273,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- StorQuest Self Storage — 2160 NW 67th Pl, Gainesville, FL 32653
- Gator State Storage — 7335 NW 13th Blvd, Gainesville, FL 32653
Frequently Asked Questions
What type of property is this?
Warehouse - Two secured metal buildings offer divided commercial space under I-2 zoning.
Where is this warehouse located?
The property is located at 2623 NW 74TH PLACE Gainesville, FL.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Two metal warehouse buildings with 9+ individual bays; 1.24± acres with I‑2 zoning; Gated property
