Multifamily Redevelopment
503 Northeast 4th Avenue Gainesville, FL 32601
For Sale
Contact for pricing
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 Market18
Property Features for 503 Northeast 4th Avenue
General Information
- Standard status
- Active
- Size
- 6,014 SF
- Lot size
- 1.40 Acres
- Property subtype
- Multifamily, Land
Listing Agency:
Lee & Associates Gainesville
(352) 664-2567
Listed By:
Brent Line · License #SL3543025
Source:
Crexi
Added: Jul 6
Changed: Jul 23
Last Checked: Jul 23 at 9:08AM
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
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.2k | $15.00 |
| − Vacancy | −$5.9k | −$0.98 |
| EGI | $84.3k | $14.03 |
| − OpEx | −$25.3k | −$4.21 |
| NOI | $59.0k | $9.82 |
6,014 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
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 Northeast 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.
