Remodeled 4-Unit
New
For Sale
$449,900
3304 SW 26th Terrace, Gainesville, FL 32608
Remodeled multifamily property near UF, the VA, and Butler Plaza.
Property Size3,600 SF
Price / SF$124.97
Days on Market6
Property Features for 3304 SW 26th Terrace
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Building Details
Year Built
1980
Year Renovated
2017
Listing Agency:
BOSSHARDT REALTY SERVICES LLC
(352) 339-8492
Listed By:
Genile Morris · License #3278538
Source:
Flflourish
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 29 at 11:35AM
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 BOSSHARDT REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
This 3,600-square-foot quadplex contains four two-bedroom units, each with one-and-a-half bathrooms. The property was remodeled in 2017 and was built in 1980, offering an established multifamily configuration at 3304 SW 26th Terrace.
The property is positioned close to the University of Florida, the VA, and Butler Plaza. Its four-unit layout and consistent two-bedroom floor plans provide a clear residential income property profile within the Gainesville market.
The property is positioned close to the University of Florida, the VA, and Butler Plaza. Its four-unit layout and consistent two-bedroom floor plans provide a clear residential income property profile within the Gainesville market.
Key Highlights
- Four 2‑bedroom, 1.5‑bath units
- 3,600 square feet across a quadplex configuration
- Remodeled in 2017
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
$35,343
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
7.86%
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%
$706,860
$706.9K
Cap Rate 7%
$504,900
$504.9K
Cap Rate 9%
$392,700
$392.7K
Market Conditions
NOI Build-Up for 3,600 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
$54.0K $15.00/SF
− Vacancy
−$3.5K −$0.98/SF
EGI
$50.5K $14.03/SF
− OpEx
−$15.1K −$4.21/SF
NOI
$35.3K $9.82/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$706,860
Cap Rate 7%
$504,900
Cap Rate 9%
$392,700
Alternative Uses
Best Use
Multifamily LT 5
$504.9K
$441.8K – $589.1K
NOI $35,343 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$453.1K
$396.4K – $528.6K
NOI $31,715 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$891.6K
$780.2K – $1.04M
NOI $62,415 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
450
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled multifamily property near UF, the VA, and Butler Plaza.
Where is this quadplex located?
The property is located at 3304 SW 26th Terrace Gainesville, FL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1.5‑bath units; 3,600 square feet across a quadplex configuration; Remodeled in 2017
