Gainesville Strip Center For
For Sale
$21,500,000
7229 NW 4th Blvd, Gainesville, FL 32607
Fully leased retail plaza with immediate income and expansion potential.
Property Size79,678 SF
Lot Size28.45 Acres
Price / SF$321.84
Days on Market217
Property Features for 7229 NW 4th Blvd
General Information
Standard status
Active
Size
79,678 SF
Class
C
Lot size
28.45 Acres
Property subtype
Retail
Building Details
Building Size
79,678 SF
Year Built
1989
Listing Agency:
Lee & Associates
Listed By:
Dan Drotos, MSRE, CCIM, SIOR · License #FL #BK3255693
(352) 420-9889
Source:
Lee-associates
Added: Mar 4
Changed: Sep 11
Last Checked: Oct 5 at 5:23PM
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
Investment Insights
Based on property information with market context.
Building A is a 66,803 square foot strip center anchored by Restaurant Depot. The building includes 15 tenant spaces. Tower Center Shopping Plaza is a 28.45-acre commercial property located off Tower Road in Gainesville, Florida. This retail destination comprises three buildings and is 100% leased. The site is accessed via a signalized intersection and is positioned with access to I-75. The plaza offers over 400 parking spaces for Buildings A and B, with an additional 47 spaces for Building C. Additional income streams include revenue from flip signage, billboard income from I-75 exposure, and CAM-generated revenue through shared water retention usage. An outparcel is in place for future development of a 30,000 square foot building.
Key Highlights
- 100% leased with immediate in‑place income and long‑term upside potential.
- Anchored by national wholesaler Restaurant Depot, drawing consistent customer traffic.
- Strategically located just off Tower Road in Gainesville, Florida, with easy access to I‑75.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$708,306
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,166,120
$14.2M
Cap Rate 7%
$10,118,657
$10.1M
Cap Rate 9%
$7,870,067
$7.9M
Market Conditions
NOI Build-Up for 66,803 SF
Gross rent
$1.08M $16.20/SF
− Vacancy
−$70.3K −$1.05/SF
EGI
$1.01M $15.15/SF
− OpEx
−$303.6K −$4.54/SF
NOI
$708.3K $10.60/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,166,120
Cap Rate 7%
$10,118,657
Cap Rate 9%
$7,870,067
Alternative Uses
Best Use
Retail
$10.12M
$8.85M – $11.81M
NOI $708,306 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.55M
$14.48M – $19.30M
NOI $1,158,204 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,909
Businesses Nearby
348k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 34%
Apparel 12%
Home Improvements & Furnishings 12%
JCPenney
Apparel
42,071 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
39,592 visits/mo
0.1 miles
Starbucks
Dining
39,553 visits/mo
0.5 miles
Circle K
Shops & Services
36,478 visits/mo
0.3 miles
Taco Bell
Dining
21,421 visits/mo
0.4 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail plaza with immediate income and expansion potential.
Where is this strip mall located?
The property is located at 7229 NW 4th Blvd Gainesville, FL.
What is the asking price?
The asking price for this property is $21,500,000.
What are key features of this property?
This property features: 100% leased with immediate in‑place income and long‑term upside potential.; Anchored by national wholesaler Restaurant Depot, drawing consistent customer traffic.; Strategically located just off Tower Road in Gainesville, Florida, with easy access to I‑75.
