Multifamily Redevelopment
503 NE 4th Avenue, Gainesville, FL 32601
For Sale
$1,700,000
Five-parcel portfolio in Gainesville includes occupied quadraplex and duplex plus three vacant parcels, all zoned U2.
Property Size6,014 SF
Lot Size1.40 Acres
Price / SF$282.67
Days on Market123
Property Features for 503 NE 4th Avenue
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Building Size
Units
Listing Agency:
Lee & Associates Gainesville
Listed By:
Brent Line · License #SL3543025
Source:
Commercialcafe
Added: Jul 8
Changed: Nov 1
Last Checked: Nov 6 at 5:46AM
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 Lee & Associates Gainesville
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Investment Insights
Based on property information with market context.
Offered for sale as a single, five-parcel assemblage near Downtown Gainesville, Florida, this portfolio includes two income-producing properties: a quadraplex and a duplex. The current lineup provides approximately 6 rental units and about 6,014 SF of building area with tenants currently in place, alongside three vacant commercial parcels.
All parcels are under single ownership and zoned U2. The assemblage is well-suited for redevelopment planning and may support new multifamily construction, mixed-use redevelopment, or expansion of the existing rental portfolio based on the site’s flexible zoning designation.
Total land area is approximately 1.4± acres, with the current property mix combining stabilized units and vacant commercial parcels within the same ownership for a streamlined acquisition and unified redevelopment strategy.
All parcels are under single ownership and zoned U2. The assemblage is well-suited for redevelopment planning and may support new multifamily construction, mixed-use redevelopment, or expansion of the existing rental portfolio based on the site’s flexible zoning designation.
Total land area is approximately 1.4± acres, with the current property mix combining stabilized units and vacant commercial parcels within the same ownership for a streamlined acquisition and unified redevelopment strategy.
Key Highlights
- Five‑parcel assemblage in Gainesville totals approximately 1.4± acres, all under single ownership.
- Income‑producing quadraplex and duplex are occupied, totaling approximately 6 rental units and 6,014± SF of building area.
- Three additional vacant commercial parcels are included to expand redevelopment possibilities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,042
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,180,840
$1.2M
Cap Rate 7%
$843,457
$843.5K
Cap Rate 9%
$656,022
$656.0K
Market Conditions
NOI Build-Up for 6,014 SF
Gross rent
$90.2K $15.00/SF
− Vacancy
−$5.9K −$0.98/SF
EGI
$84.3K $14.03/SF
− OpEx
−$25.3K −$4.21/SF
NOI
$59.0K $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 Rate 5%
$1,180,840
Cap Rate 7%
$843,457
Cap Rate 9%
$656,022
Alternative Uses
Best Use
Multifamily LT 5
$843.5K
$738.0K – $984.0K
NOI $59,042 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$756.9K
$662.3K – $883.0K
NOI $52,981 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,268 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,953
Businesses Nearby
Explore this area
Business Placement
Demographics for 32601, FL
22,039
Population
11,204
Households
2
Avg Household Size
27
Median Age
62%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
4,791
Density / Sq Mi
$30,878
Median Household Income
$18,954
Median Earnings
$1,092
Median Rent
$284,200
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Gainesville, FL
Properties on Market for Quadplexes in Gainesville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Five-parcel portfolio in Gainesville includes occupied quadraplex and duplex plus three vacant parcels, all zoned U2.
Where is this quadplex located?
The property is located at 503 NE 4th Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Five‑parcel assemblage in Gainesville totals approximately 1.4± acres, all under single ownership.; Income‑producing quadraplex and duplex are occupied, totaling approximately 6 rental units and 6,014± SF of building area.; Three additional vacant commercial parcels are included to expand redevelopment possibilities.
