Two-Unit Restaurant
New
For Sale
$1,900,000
3117 SW 34TH STREET 1 & 2, Gainesville, FL 32608
Two restaurant spaces in a multi-tenant center offer separate operating areas and shared access to on-site parking.
Property Size5,000 SF
Price / SF$380
Days on Market4
Property Features for 3117 SW 34TH STREET 1 & 2
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
45
Property subtype
Restaurant
Site & Location
Pylon Signage
Yes
Traffic Count
27,374 vehicles/day
Road Access
Yes
Amenities
0.76 acres, Near Public Transit, Shopping Center, Sidewalk, Trees/Landscaped
Tile
Public Sewer
Additional parcels description:, Parcel Number: 06780-004-000, Public Survey Range: 19, Public Survey Section: 13, Annual Amount: $41,039.5, Legal Description: COM NW COR SEC S 00 DEG DEG 41 MIN 21 SEC E 2490.90 FT N 08 DEG 05 MIN 03 SEC E 70.34 FT S 81 DEG 54 MIN 57 SEC E 64 FT NLY ALG CURVE 18.09 FT N 85 DEG E 325.25 FT N 05 DEG W 233.12 FT N 20 DEG 35 MIN 10 SEC W 85.78 FT POB N 20 DEG 35 MIN 10 SEC W 5. 67 FT NLY ALG CURVE 140.08 FT N 11 DEG 15 MIN 41 SEC E 178.10 FT S 78 DEG 32 MIN 15 SEC E 38.74 FT S 33 DEG 14 MIN 44 SEC E 44.25 FT N 56 DEG 45 MIN 16 SEC E 87.82 FT S 33 DEG 14 MIN 44 SEC E 71 FT S 56 DEG 45 MIN 16 SEC W 120.38 FT S 20 DEG 57 MIN 0 4 SEC E 56.37 FT S 33 DEG 32 MIN 45 SEC E 102.42 FT S 56 DEG 45 MIN 16 SEC W 37 FT N 33 DEG 32 MIN 45 SEC E 102.42 FT S 56 DEG 45 MIN 16 SEC W 37 FT N 33 DEG 32 MIN 45 SEC W 18.99 FT S 82 DEG 01 MIN 18 SEC 109.27 FT POB OR 4570/1325, Lot: NA, Year: 2024, Zoning: PD
Central Air
Central
Listing ID: MFROM733954, Standard Status: Active, MLS Status: Active, Property Subtype: Restaurant, On market as of 2026-10-17, Special Conditions: None
Over 30 Spaces
Built in 2005, Living area: 3600, Living area units: Square Feet, 1 storey, Construction Materials: Brick, Frame
Subdivision: N/A, MLS Area (Major): 32608 - Gainesville, County/Parish: Alachua
Water Source: Public
Slab
Frontage Type: Business District, Main Throrughfare, State Road, Road Surface: Paved
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
FLORIDA ADVANTAGE REALTY GROUP
(352) 618-2926
Listed By:
Kristen Dreyer · License #3321579
(631) 560-8998
Source:
Miharaandassociates
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 8:50AM
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 FLORIDA ADVANTAGE REALTY GROUP
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two restaurant units make up this property at University Towne Center, a multi-tenant retail center in Gainesville. The building received a roof replacement in 2022, followed by air-conditioning work in 2023. On-site parking includes 45 deeded spaces, with additional overflow parking nearby. Signage is available on the building and on a monument along SW 34th Street.
The property occupies the southeast corner of SW 34th Street and Archer Road, just over a mile from I-75. Shands Hospital and the University of Florida are nearby, along with residential development. Enson Market serves as the center’s shadow anchor; other center tenants include Carrabba’s, Amrit Palace, Another Broken Egg Cafe, DaVinci, Taste Pho & Noodle House, Tropical Smoothie Cafe, Sahao Cafe, and Yoga Pod.
The property occupies the southeast corner of SW 34th Street and Archer Road, just over a mile from I-75. Shands Hospital and the University of Florida are nearby, along with residential development. Enson Market serves as the center’s shadow anchor; other center tenants include Carrabba’s, Amrit Palace, Another Broken Egg Cafe, DaVinci, Taste Pho & Noodle House, Tropical Smoothie Cafe, Sahao Cafe, and Yoga Pod.
Key Highlights
- Two restaurant units at University Towne Center
- 45 deeded parking spaces, plus adjacent overflow parking
- Roof replaced in 2022; air‑conditioning updated in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,535
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,190,700
$1.2M
Cap Rate 7%
$850,500
$850.5K
Cap Rate 9%
$661,500
$661.5K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$84.0K $16.80/SF
− Vacancy
−$4.6K −$0.92/SF
EGI
$79.4K $15.88/SF
− OpEx
−$19.8K −$3.97/SF
NOI
$59.5K $11.91/SF
Area
Gainesville, FL
Vacancy
5.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,190,700
Cap Rate 7%
$850,500
Cap Rate 9%
$661,500
Alternative Uses
Best Use
Specialty Retail
$850.5K
$744.2K – $992.3K
NOI $59,535 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,688 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
27,374 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
321k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 16%
Groceries 16%
Apparel 12%
Publix
Groceries
47,553 visits/mo
0.5 miles
Kohl's
Apparel
26,953 visits/mo
0.2 miles
Circle K
Shops & Services
23,632 visits/mo
0.3 miles
Sephora
Beauty & Spa
23,495 visits/mo
0.3 miles
Regal Butler Town Center
Leisure
22,382 visits/mo
0.4 miles
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
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
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two restaurant spaces in a multi-tenant center offer separate operating areas and shared access to on-site parking.
Where is this conventional restaurant located?
The property is located at 3117 SW 34TH STREET 1 & 2 Gainesville, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Two restaurant units at University Towne Center; 45 deeded parking spaces, plus adjacent overflow parking; Roof replaced in 2022; air‑conditioning updated in 2023
