Triplex with U4
New
For Sale
$450,000
907 NW 4TH, Gainesville, FL 32601
Existing three-unit property with urban zoning and proximity to the UF campus.
Property Size1,751 SF
Days on Market5
Property Features for 907 NW 4TH
General Information
Standard status
Active
Size
1,751 SF
Property subtype
Investment
Zoning
U4
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,964
Building Details
Building Size
1,751 SF
Year Built
1930
Units
3
Listing Agency:
BHHS FLORIDA REALTY
Listed By:
Ann Ballatore · License #0686182
(352) 316-2875
Source:
Elliman
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 7:45AM
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 BHHS FLORIDA REALTY
Investment Insights
Based on property information with market context.
This three-unit property was built in 1930 and sits on a parcel designated U4 (Urban 4). The zoning framework allows up to 3 stories and a maximum height of 42 feet, with interior side setbacks of 0 feet subject to utilities and easements. Rear setbacks are 3 feet with an alley or 10 feet without one.
U4 zoning also permits one attached and one detached accessory dwelling unit per parcel when a primary residence remains and applicable City standards are met. The property is not within a historic district. It is located half a mile from the UF campus, with a bikeScore of 94 and a walkScore of 69. Buyers should verify zoning, permitted uses, development standards, and future plans with the City of Gainesville.
U4 zoning also permits one attached and one detached accessory dwelling unit per parcel when a primary residence remains and applicable City standards are met. The property is not within a historic district. It is located half a mile from the UF campus, with a bikeScore of 94 and a walkScore of 69. Buyers should verify zoning, permitted uses, development standards, and future plans with the City of Gainesville.
Key Highlights
- Triplex configuration on a U4 (Urban 4) zoned parcel
- Built in 1930
- U4 zoning allows up to 3 stories and a maximum height of 42 feet
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
$17,190
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
3.82%
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%
$343,800
$343.8K
Cap Rate 7%
$245,571
$245.6K
Cap Rate 9%
$191,000
$191.0K
Market Conditions
NOI Build-Up for 1,751 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
$26.3K $15.00/SF
− Vacancy
−$1.7K −$0.98/SF
EGI
$24.6K $14.03/SF
− OpEx
−$7.4K −$4.21/SF
NOI
$17.2K $9.82/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$343,800
Cap Rate 7%
$245,571
Cap Rate 9%
$191,000
Alternative Uses
Best Use
Multifamily LT 5
$245.6K
$214.9K – $286.5K
NOI $17,190 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$220.4K
$192.8K – $257.1K
NOI $15,426 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$433.7K
$379.5K – $506.0K
NOI $30,358 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,389
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Existing three-unit property with urban zoning and proximity to the UF campus.
Where is this triplex located?
The property is located at 907 NW 4TH Gainesville, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Triplex configuration on a U4 (Urban 4) zoned parcel; Built in 1930; U4 zoning allows up to 3 stories and a maximum height of 42 feet
