U4-Zoned Triplex
New
For Sale
$450,000
918 NW 4TH PLACE, Gainesville, FL 32601
Existing rental improvements with flexible urban zoning and accessory dwelling unit provisions.
Property Size1,846 SF
Price / SF$243.77
Days on Market6
Property Features for 918 NW 4TH PLACE
General Information
Standard status
Active
Size
1,846 SF
Property subtype
Triplex
Zoning
U4
Additional Details
Multifamily Units
3
Amenities
0.12 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 13753-001-000, Public Survey Range: 20, Public Survey Section: 5, Annual Amount: $3,740, Tax Book Number: A-64, Legal Description: Lot Eight (8), Taylor's Resurvey of the West 1/2 of Block 6, Brown's Addition to Gainesville, as per plat thereof recorded in Plat Book "A", page 126 of the Public Records of Alachua County, Florida., Lot: 8, Year: 2025, Zoning: U4
Linoleum
Gross Income: $37,800
Central Air
Electric
Listing ID: MFRGC542483, Standard Status: Active, MLS Status: Active, Property Subtype: Triplex, On market as of 2026-08-06, 1 day on market, Special Conditions: None
Off Street, Open
Elementary School: Carolyn Beatrice Parker Elementary, Middle School: Westwood Middle School-AL, High School: Gainesville High School-AL
3 total bedrooms
Built in 1958, Living area: 1846, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stucco
Subdivision: BROWNS ADDITION, MLS Area (Major): 32601 - Gainesville, County/Parish: Alachua
Completed, City
3 total bathrooms
Cable Available, Electricity Connected, Sewer Connected, Water Connected, Water Source: Public
Slab
Electricity, Water
Road Responsibility: Public Maintained Road, Road Surface: Asphalt
Patio/Porch Features: Front Porch, Fence
Accessible Approach with Ramp
Electric Water Heater, Range
Building Details
Year Built
1958
Buildings
2
Listing Agency:
BHHS FLORIDA REALTY
(352) 225-4700
Listed By:
Angelina Ballatore · License #3349870
Source:
Miharaandassociates
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 6:29AM
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 triplex property includes a single-family residence and a duplex on one U4-zoned parcel. The existing improvements date to 1958 and provide an established rental configuration, while the zoning framework supports consideration of future residential development subject to applicable municipal requirements.
U4 zoning permits buildings up to 3 stories and 42 feet in height, with 0-foot interior side setbacks subject to utilities and easements. Rear setbacks may be 3 feet with an alley or 10 feet without one. The district also permits one attached and one detached ADU per parcel when a primary residence remains in place. The parcel is outside a historic district. Adjacent properties at 907 NW 4th Place and 908 NW 4th Place are also available.
U4 zoning permits buildings up to 3 stories and 42 feet in height, with 0-foot interior side setbacks subject to utilities and easements. Rear setbacks may be 3 feet with an alley or 10 feet without one. The district also permits one attached and one detached ADU per parcel when a primary residence remains in place. The parcel is outside a historic district. Adjacent properties at 907 NW 4th Place and 908 NW 4th Place are also available.
Key Highlights
- U4‑zoned parcel with existing single‑family residence and duplex
- 3‑story, 42‑foot maximum building height under U4 zoning
- 0‑foot interior side setbacks, subject to utilities and easements
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
$18,123
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
4.03%
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%
$362,460
$362.5K
Cap Rate 7%
$258,900
$258.9K
Cap Rate 9%
$201,367
$201.4K
Market Conditions
NOI Build-Up for 1,846 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
$27.7K $15.00/SF
− Vacancy
−$1.8K −$0.98/SF
EGI
$25.9K $14.03/SF
− OpEx
−$7.8K −$4.21/SF
NOI
$18.1K $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%
$362,460
Cap Rate 7%
$258,900
Cap Rate 9%
$201,367
Alternative Uses
Best Use
Multifamily LT 5
$258.9K
$226.5K – $302.1K
NOI $18,123 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$232.3K
$203.3K – $271.1K
NOI $16,263 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$457.2K
$400.1K – $533.4K
NOI $32,005 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,969
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
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Frequently Asked Questions
What type of property is this?
Triplex - Existing rental improvements with flexible urban zoning and accessory dwelling unit provisions.
Where is this triplex located?
The property is located at 918 NW 4TH PLACE 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: U4‑zoned parcel with existing single‑family residence and duplex; 3‑story, 42‑foot maximum building height under U4 zoning; 0‑foot interior side setbacks, subject to utilities and easements
