Freestanding Japanese
For Sale
$1,700,000
526 Nw 60th Street GAINESVILLE, Gainesville, FL 32607
Fully equipped dining property with hibachi stations, bar service, commercial kitchen, and on-site parking.
Property Size10,890 SF
Price / SF$248.18
Days on Market64
Property Features for 526 Nw 60th Street GAINESVILLE
General Information
Standard status
Active
Size
10,890 SF
Zoning
BUS
Additional Details
Furnished
Yes
Highway Access
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$14,354
Amenities
1
true
10890
0.25
false
Asphalt,Paved
Brick/Mortar
Access Road
Building Details
Building Size
10,890 SF
Year Built
2000
Buildings
1
Stories
1
Listed By:
Back Porch Home Group
(904) 569-5862
Source:
Movetojacksonville
Added: Jul 6
Changed: Sep 6
Last Checked: Sep 7 at 5:03AM
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 Back Porch Home Group
Investment Insights
Based on property information with market context.
This freestanding Japanese restaurant contains 6,850 square feet and was built in 2000. The operation includes 10+ hibachi cooking stations, a full-service bar, and a commercial kitchen with walk-in coolers and freezers. Furniture, fixtures, and equipment are included, supporting an existing restaurant configuration.
The property is located at 526 NW 60th Street in Gainesville, near Newberry Road, North Florida Regional Hospital, and Interstate 75. On-site parking and access from an access road serve the building, while BUS zoning is identified for the property.
The property is located at 526 NW 60th Street in Gainesville, near Newberry Road, North Florida Regional Hospital, and Interstate 75. On-site parking and access from an access road serve the building, while BUS zoning is identified for the property.
Key Highlights
- 6,850‑SF freestanding restaurant built in 2000
- 10+ hibachi cooking stations
- Full‑service bar and 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 - Fully equipped dining property with hibachi stations, bar service, commercial kitchen, and on-site parking.
Where is this conventional restaurant located?
The property is located at 526 Nw 60th Street GAINESVILLE 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‑SF freestanding restaurant built in 2000; 10+ hibachi cooking stations; Full‑service bar and commercial kitchen
