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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    11694 Research Dr Alachua, FL 32615-7267

    • Office buildings
    • 12,600 SF
    • 5.06 lot acres
    OFF-MARKET
    Last Sale
    May 13, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6625754
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Kookaburra Alachua / Coffee Shop

    Property Details for 11694 Research Dr

    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.06 lot acres
    Property size
    12,600 SF
    Zone code
    PUD
    Property type
    Office buildings
    APN
    03956-010-028
    APU
    3956010028

    Description

    This exceptional 11,900-square-foot retail or restaurant space is located in Alachua, Florida's premier Progress Park, a thriving biotech office park with over 34 companies and 1,200+ employees. Situated on 5.07 acres of land at 11694 Research Dr, Alachua, FL 32615, this Class A property boasts a prime location on HWY 441, directly across from a 600-home community. Built and renovated in 2022, the single-tenant space is part of a 7-suite building with ample parking (50 spaces). The property is zoned PUD and offers high visibility with over 20,000 average daily vehicle trips on HWY 441. This location is ideal for a variety of businesses, including restaurants, coffee shops, and other retail establishments. The property's proximity to a new coffee shop, brewery, and wine bar will further enhance its appeal and draw significant foot traffic. This is a rare opportunity to secure a highly visible and desirable retail space in a rapidly growing area. The property also presents the possibility of an outparcel drive-thru restaurant, available for sale or land lease (inquire for details). Don't miss this chance to establish your business in Alachua County's most coveted retail location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Alachua
    County
    Alachua
    State
    Florida
    Longitude
    -82.4704
    Latitude
    29.7831
    CBSA code
    23540
    CBSA name
    GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $39
    $0.00
    $0.00
    $1,800
    -
    $1,800
    $769,648
    $771,448

    Comparable in this City

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      13,900 SF

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      $250,000
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      14405 Peggy Rd

      OFFICE BUILDING (MULTI-STORY) • 535 SF
      14405 Peggy Rd, Alachua, FL 32615-5449
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    • Value Estimation
      $445,000
      1.00 Acre

      9818 County Rd 236

      OFFICE BUILDING (MULTI-STORY) • 1.00 Acre
      9818 County Rd 236, Alachua, FL 32615-3545
      View Details
    • Value Estimation
      $2,640,000
      5,984 SF

      13400 Progress Blvd

      OFFICE BUILDING (MULTI-STORY) • 5,984 SF
      13400 Progress Blvd, Alachua, FL 32615-9444
      View Details
    • Value Estimation
      $305,000
      14,303 SF

      15043 Main St

      OFFICE BUILDING (MULTI-STORY) • 14,303 SF
      15043 Main St, Alachua, FL 32615-3637
      View Details

    Similar Nearby for Sale

    • $1,300,000

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    Similar Nearby for Lease

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      High-visibility showroom space in Alachua, FL.
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    • $167,460

      Alachua Retail/Office Space Available

      Retail and office spaces for rent in Alachua, Florida.
      13859 Progress Blvd, Alachua, FL 32615
      View Details
    • $2,800 /Mo
      Pending

      Remodeled Mixed-Use Property on 441

      Remodeled mixed-use property with ample parking and signage on 441.
      14435 NW 441, Alachua, FL 32615
      View Details
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    Alachua, FL 32615-7267
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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
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