Freestanding Hibachi
For Sale
$1,700,000
526 NW 60TH Street, Gainesville, FL 32607
Commercial Sale, GAINESVILLE, FL
Property Size6,850 SF
Lot Size0.25 Acres
Price / SF$248.18
Days on Market305
Property Features for 526 NW 60TH Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BUS
Directions
From Interstate 75, take Exit 387 for Newberry Road (State Road 26) and head east toward Gainesville. Continue approximately 1.5 miles, then turn left onto NW 60th Street. The property at 526 NW 60th Street will be on your right-hand side, just north of Newberry Road, providing convenient access to I-75, Newberry Road, and major Gainesville corridors.
Subdivision
32607 - Gainesville
Standard status
Active
APN
06655-201-000
Size
6,850 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BLDG 1 DESC AS: COM NE COR SEC S 49.55 FT W 570 FT S 602.18 FT E 195.85 FT S 27 FT POB E 110 FT S 100 FT W 110 FT N 9.69 FT N 45 DEG E 12.47 FT N 44 DEG W 12.66 FT N 72.54 FT POB 3306/0909
Tax Annual Amount
14355
Legal Description
BLDG 1 DESC AS: COM NE COR SEC S 49.55 FT W 570 FT S 602.18 FT E 195.85 FT S 27 FT POB E 110 FT S 100 FT W 110 FT N 9.69 FT N 45 DEG E 12.47 FT N 44 DEG W 12.66 FT N 72.54 FT POB 3306/0909
Building Details
Year built
2000
Floors in Building
1
Building materials
Brick, Concrete
Listing Agency:
BOSSHARDT REALTY SERVICES LLC
(352) 371-6100
Listed By:
Eric Ligman · License #3086548
(352) 256-2112
Added: Oct 23, 2025
Changed: Aug 22
Last Checked: Aug 23 at 5:06AM
MLS# GC534930
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding restaurant property encompasses 6,850 square feet on a 0.25-acre parcel. The building includes more than 10 hibachi cooking stations, a full-service bar, and a commercial kitchen with walk-in coolers and freezers. Furniture, fixtures, and equipment are included in the sale, supporting continued restaurant operations. Brick and concrete construction dates to 2000, and the property is zoned BUS.
The site is positioned near Newberry Road, North Florida Regional Hospital, and Interstate 75 in Gainesville. On-site parking serves the building, while the freestanding format provides a dedicated restaurant setting. The property is located at 526 NW 60TH Street, Gainesville, Florida 32607.
The site is positioned near Newberry Road, North Florida Regional Hospital, and Interstate 75 in Gainesville. On-site parking serves the building, while the freestanding format provides a dedicated restaurant setting. The property is located at 526 NW 60TH Street, Gainesville, Florida 32607.
Key Highlights
- 6,850‑square‑foot freestanding restaurant on 0.25 acres
- More than 10 hibachi cooking stations
- Full‑service bar and complete commercial kitchen
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
$81,563
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
4.80%
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%
$1,631,260
$1.6M
Cap Rate 7%
$1,165,186
$1.2M
Cap Rate 9%
$906,256
$906.3K
Market Conditions
NOI Build-Up for 6,850 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
$115.1K $16.80/SF
− Vacancy
−$6.3K −$0.92/SF
EGI
$108.8K $15.88/SF
− OpEx
−$27.2K −$3.97/SF
NOI
$81.6K $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 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%
$1,631,260
Cap Rate 7%
$1,165,186
Cap Rate 9%
$906,256
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,563 @ 7.0% cap · market cap 4.80%
Second Best
Industrial
$663.8K
$580.8K – $774.4K
NOI $46,464 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,763 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,738
Businesses Nearby
480k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Shops & Services 27%
Apparel 24%
Groceries 2%
Hobby Lobby
Shops & Services
55,462 visits/mo
0.1 miles
JCPenney
Apparel
42,071 visits/mo
0.3 miles
Belk
Apparel
41,818 visits/mo
0.2 miles
Starbucks
Dining
39,553 visits/mo
0.4 miles
McDonald's
Dining
36,942 visits/mo
0.1 miles
Demographics for 32607, FL
35,420
Population
16,465
Households
2.2
Avg Household Size
28
Median Age
53%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,811
Density / Sq Mi
$46,517
Median Household Income
$30,690
Median Earnings
$1,222
Median Rent
$297,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey dining property with a commercial kitchen, full-service bar, and on-site parking.
Where is this conventional restaurant located?
The property is located at 526 NW 60TH Street 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: 6,850‑square‑foot freestanding restaurant on 0.25 acres; More than 10 hibachi cooking stations; Full‑service bar and complete commercial kitchen
