Multifamily Property with Loft
919 NW 23RD Avenue, Gainesville, FL 32609
For Sale
$399,900
Commercial Sale, GAINESVILLE, FL
Property Size3,482 SF
Lot Size0.36 Acres
Price / SF$114.85
Days on Market892
Property Features for 919 NW 23RD Avenue
General Information
Property type
Property subtype
Zoning
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Cooling system
Amenities
fully equipped kitchen
washer and dryer
wall mounted AC units
workshop
Building Details
Year built
Building materials
Listing Agency:
COLDWELL BANKER M.M. PARRISH R · Coldwell Banker Real Estate
Listed By:
Jeff Rimes · License FL #3379326
(352) 335-4999
Added: Jun 4, 2024
Changed: Nov 10
Last Checked: Nov 12 at 6:06AM
MLS# GC522595
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1947, this 3,482-square-foot multifamily property includes a primary residence with six bedrooms and a separate 1,300-square-foot one-bedroom, one-bath loft unit. The main home includes some furnishings, two refrigerators, a washer and dryer, a fully equipped kitchen, and additional appliances. Its metal roof was updated in 2010, while the main residence also has an updated 200-amp electrical panel and plumbing throughout.
The detached unit has its own functional kitchen, three wall-mounted AC units, and a functional workshop. It is leased through June 2026. The property occupies 0.36 acres and carries OF zoning. Cooling for the property includes window, wall/window, and central air systems.
The detached unit has its own functional kitchen, three wall-mounted AC units, and a functional workshop. It is leased through June 2026. The property occupies 0.36 acres and carries OF zoning. Cooling for the property includes window, wall/window, and central air systems.
Key Highlights
- 3,482‑square‑foot multifamily property on 0.36 acres
- Main residence includes six bedrooms
- Separate 1,300‑square‑foot one‑bedroom, one‑bath loft unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,675
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,500
$613.5K
Cap Rate 7%
$438,214
$438.2K
Cap Rate 9%
$340,833
$340.8K
Market Conditions
NOI Build-Up for 3,482 SF
Gross rent
$59.3K $17.04/SF
− Vacancy
−$3.6K −$1.02/SF
EGI
$55.8K $16.02/SF
− OpEx
−$25.1K −$7.21/SF
NOI
$30.7K $8.81/SF
Area
Gainesville, FL
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,500
Cap Rate 7%
$438,214
Cap Rate 9%
$340,833
Alternative Uses
Best Use
Apartment 5plus
$438.2K
$383.4K – $511.3K
NOI $30,675 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$862.4K
$754.6K – $1.01M
NOI $60,370 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
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Business Placement
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Gainesville, FL
Properties on Market for Multifamily properties in Gainesville
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with a separate leased dwelling, furnished kitchen equipment, and a workshop.
Where is this multifamily property located?
The property is located at 919 NW 23RD Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3,482‑square‑foot multifamily property on 0.36 acres; Main residence includes six bedrooms; Separate 1,300‑square‑foot one‑bedroom, one‑bath loft unit
