Multifamily Redevelopment
For Sale
Contact for pricing
503 Northeast 4th Avenue, Gainesville, FL 32601
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 Market60
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
Zoning
U2
Additional Details
Multifamily Units
6
Building Details
Buildings
2
Units
6
Tenancy
Multi
Listing Agency:
Lee & Associates Gainesville
Listed By:
Brian Oen · License #FL BK3372787
(352) 664-2567
Source:
Crexi
Added: Jul 6
Changed: Sep 2
Last Checked: Sep 2 at 7:58AM
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
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
$59,042
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
3.47%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
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
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 - 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.
