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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Office buildings
1120 23rd Ave Gainesville, FL 32609-3441
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-3440375
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1949
Construction
WOOD
Total area
1,372 SF
Lot
0.21 ac (9,148 SF)
Zoning code
U4
APN
08677-000-000
UPID
US18-3440375
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Desinee Natural Hair Care Salon Hair Salon
-
Terra-Com Environmental Inc Environmental Consultant Environmental Program
-
Dawn Wellness Center Physician
-
James L Parrish Inc Engineer
-
M & P Services Inc Civil Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$530k
Owner & transaction history
G&g 23 Properties LLC · 3 yrs held
G&g 23 Properties LLC
since 2023
Last sale
$540,000
3 recorded transactions
Zoning & alternative use
U4 · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$540,000
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±10% · vs last sale $540k (Jun 16 2023)
Last sale anchor
$540k
Jun 16 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$386 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,255
Tax year 2023
Assessed value
$137,373
Assessed 2023
Previous assessed
$137,286
+0.1% YoY
Effective rate
2.37%
On assessed value
Assessed land
$73,181
Assessed improvement
$64,192
Land market value
$73,181
Improvement market value
$64,192
Total market value
$137,373
Applied tax rate
3,600.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1949
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
1
Bathrooms
9
Total area
1,372 SF
Lot
0.21 ac (9,148 SF)
Zoning code
U4
APN
08677-000-000
UPID
US18-3440375
Jurisdiction
ALACHUA
Zoning & alternative use
U4 · Gainesville, FL
Zoning U4 · permitted uses
U4 · Gainesville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gainesville. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1949
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Bathrooms
9
Lot
0.21 ac
Current owner
From public records · entity-resolved
G&g 23 Properties LLC
Entity
Mailing address
2304 NW 47TH TER, GAINESVILLE, FL 32606-6503
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2023
$540,000
G&g 23 Properties LLC
Wayne G Irwin
Warranty Deed
$231,000 · Regions Bank
Nov 30, 2015
$230,000
Wayne G Irwin
M & P Services INC
Warranty Deed
$184,000 · Florida Cu
—
—
M & P Services INC
—
Deed Of Trust
related
$78,220 · Capital City Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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