Restaurant Building with
For Sale
$720,000
7 SE 1st Avenue, Gainesville, FL 32601
Existing hood, grease trap, indoor seating, and patio area support a ready restaurant configuration.
Property Size3,080 SF
Price / SF$233.77
Days on Market68
Property Features for 7 SE 1st Avenue
General Information
Standard status
Active
Size
3,080 SF
Property subtype
Retail
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Patio
Yes
Building Details
Building Size
3,080 SF
Listing Agency:
BOSSHARDT REALTY SERVICES LLC
(386) 566-1744
Listed By:
Tina Grossmann DePaz · License #3315291
Source:
Bosscommercial
Added: Jun 25
Changed: Aug 31
Last Checked: Aug 31 at 3:07AM
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 BOSSHARDT REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
This conventional restaurant property at 7 SE 1st Avenue includes 3,080 SF of indoor space plus a 352 SF patio seating area. An existing hood and grease trap are in place, providing key infrastructure for food-service operations. The building previously housed Emiliano's Cafe for over 35 years.
The property is positioned on a historic downtown Gainesville city block surrounded by restaurant and entertainment establishments. Its combination of indoor dining space, outdoor seating, and existing restaurant equipment creates a clearly defined commercial layout for an owner-operator or restaurant user.
The property is positioned on a historic downtown Gainesville city block surrounded by restaurant and entertainment establishments. Its combination of indoor dining space, outdoor seating, and existing restaurant equipment creates a clearly defined commercial layout for an owner-operator or restaurant user.
Key Highlights
- 3,080 SF of indoor restaurant space
- 352 SF patio seating area
- Existing hood and grease trap
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
$36,674
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
5.09%
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%
$733,480
$733.5K
Cap Rate 7%
$523,914
$523.9K
Cap Rate 9%
$407,489
$407.5K
Market Conditions
NOI Build-Up for 3,080 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
$51.7K $16.80/SF
− Vacancy
−$2.8K −$0.92/SF
EGI
$48.9K $15.88/SF
− OpEx
−$12.2K −$3.97/SF
NOI
$36.7K $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%
$733,480
Cap Rate 7%
$523,914
Cap Rate 9%
$407,489
Alternative Uses
Best Use
Specialty Retail
$523.9K
$458.4K – $611.2K
NOI $36,674 @ 7.0% cap · market cap 5.09%
Second Best
Retail
$466.5K
$408.2K – $544.3K
NOI $32,657 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$762.9K
$667.5K – $890.0K
NOI $53,400 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
2,336
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 76%
Shops & Services 24%
Hampton Inn & Suites Gainesville Downtown
Hotels & Casinos
14,919 visits/mo
0.1 miles
Hyatt Place
Hotels & Casinos
12,954 visits/mo
0.1 miles
Wells Fargo
Shops & Services
4,721 visits/mo
0.2 miles
Truist
Shops & Services
2,782 visits/mo
0.3 miles
Enterprise Rent-A-Car
Shops & Services
1,100 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing hood, grease trap, indoor seating, and patio area support a ready restaurant configuration.
Where is this conventional restaurant located?
The property is located at 7 SE 1st Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: 3,080 SF of indoor restaurant space; 352 SF patio seating area; Existing hood and grease trap
