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    101 2Nd Pl Gainesville, FL 32601

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    For Lease
    Contact for pricing

    Downtown Gainesville retail space, multiple units available.

    Lot size:
    72,776 SF

    Property Features for 101 2Nd Pl

    General Information

    Property type
    Neighborhood centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    72,776 SF

    Building Details

    Year Built/Renovated
    1926/1987

    Spaces For Lease

    at 101 2Nd Pl, Gainesville, FL 32601 Contact us

    We can help!

    Listing Contact
    Rick Cain
    Rick Cain

    Listing Agency: Avison Young Gainesville Listing Agent: Rick Cain

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Sun Center East, located at 101 SE 2nd Place, Gainesville, FL 32601, presents a prime retail opportunity in the heart of downtown. This 72,776 square foot strip center, situated on a 2.5-acre lot, offers flexible space options ideal for a variety of businesses. Built in 1926 and renovated in 1987, the property boasts a blend of historic charm and modern functionality. Currently, there are 10,920 square feet of vacant space available, divisible into units as small as 630 square feet, with a maximum contiguous space of 9,200 square feet. The property is zoned for Central City District (CCD) use within Alachua County and enjoys a highly visible location, conveniently situated near S Main Street. Its central location provides excellent access to foot traffic and offers significant potential for businesses seeking a vibrant and established commercial environment. The property's proximity to the Hippodrome State Theatre further enhances its appeal and visibility. This is an exceptional opportunity to secure retail space in a thriving downtown Gainesville location. The multiple unit availability allows for flexibility in tenant needs and potential for synergistic businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McGurn Management Company Construction Company JGs Barber Lounge Barber Shop Dale's Salon Hair Salon Gainesville City Center Business Service Center My Home Sweet ... Home Health Care Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3237739
    Latitude
    29.6489601

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    FAQs

    What type of property is this?
    Neighborhood center - Downtown Gainesville retail space, multiple units available.
    Where is this neighborhood center located?
    The property is located at 101 2Nd Pl Gainesville, FL.
    What are key features of this property?
    This property features: 630 SF and 2,500 SF office suites available, plus a 7,790 SF space ideal for office, fitness, retail, or food and beverage uses.; Prime downtown Gainesville location, steps from City Hall, the courthouse, Innovation Square, UF, and GRU, ensuring high foot traffic.; Excellent walkability to vibrant nightlife, restaurants, entertainment venues (Hippodrome, Bo Diddley Plaza, Depot Park), and festivals.
    (352) 505-7588 Call to check price and availability
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    101 2Nd Pl Gainesville, FL 32601
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    Gainesville, FL 32601
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    101 2Nd Pl Gainesville, FL 32601
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    Contact for Pricing
    Please call us for current price
    and status of this listing Rick Cain
    Rick Cain
    Real Estate License ID: SL3127464
    (352) 505-7588 (352) 281-9393 (352) 505-4609
    Learn more
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