Gainesville Retail Investment
For Sale
$4,900,000
Pending
618 NW 60TH St, Gainesville, FL 32607
Fully leased shopping center in a high-demand Gainesville location.
Property Size23,364 SF
Lot Size2.27 Acres
Days on Market101
Property Features for 618 NW 60TH St
General Information
Standard status
Pending
Size
23,364 SF
Lot size
2.27 Acres
Property subtype
Commercial
Building Details
Year Built
1996
Listing Agency:
First Choice Realty of North Florida LLC
(352) 514-9508
Listed By:
Dawn Johnson · License #3100360
(352) 514-9508
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 23 at 4:44AM
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 First Choice Realty of North Florida LLC
Investment Insights
Based on property information with market context.
This income-producing retail investment is located at 618 NW 60th St in Gainesville, Florida. The established shopping center is fully leased and positioned just off Newberry Road, behind McDonald’s and adjacent to Hobby Lobby, in close proximity to Oaks Mall and the University of Florida. The property benefits from strong traffic counts and is surrounded by retail establishments in a desirable Northwest Gainesville location. The center features a diversified rent roll with national and regional tenants, including McAlister’s Deli, The HoneyBaked Ham Company, Blackadder Brewing Company, Painting with a Twist, and additional service and food-related users. Tenant longevity and brand recognition contribute to consistent income performance. Situated on approximately 2.27 acres, the property totals approximately 23,364 square feet of retail space and is 100% occupied at the time of listing. The location offers convenient access to I-75 and is surrounded by major employment drivers and demand generators including North Florida Regional Medical Center, BJ’s Restaurant, Oaks Mall, and numerous retail, dining, and service establishments. The property is well-suited for investors seeking reliable income, long-term tenant stability, and exposure to a high-demand commercial corridor. The bike score is 43, indicating it is somewhat bikeable, and the walk score is 7, indicating it is car-dependent.
Key Highlights
- 100% occupied retail shopping center
- Located in a highly desirable Northwest Gainesville location
- Stable and diversified rent roll with national and regional tenants
Financial Insights For Retail
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 | $378.5k | $16.20 |
| − Vacancy | −$24.6k | −$1.05 |
| EGI | $353.9k | $15.15 |
| − OpEx | −$106.2k | −$4.54 |
| NOI | $247.7k | $10.60 |
23,364 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.54M
$3.10M – $4.13M
NOI $247,726 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.79M
$5.06M – $6.75M
NOI $405,076 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,738
Businesses Nearby
480k
Monthly Visits Nearby
Well-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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Similar Off Market Nearby
- Tower Center — NW 4th Blvd, Gainesville, FL 32607
- Oaks Square — 6837 W Newberry Rd, Gainesville, FL 32605
- Sunglass Hut — 6241 W Newberry Rd, Gainesville, FL 32605
- The Oaks Mall — 6419 W Newberry Rd, Gainesville, FL 32605
- Hobby Box Cards | Vending Machine — 6419 W Newberry Rd, Gainesville, FL 32605
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased shopping center in a high-demand Gainesville location.
Where is this shopping center located?
The property is located at 618 NW 60TH St Gainesville, FL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 100% occupied retail shopping center; Located in a highly desirable Northwest Gainesville location; Stable and diversified rent roll with national and regional tenants
