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    125 NW 23Rd Ave Gainesville, FL 32609
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    125 NW 23Rd Ave Gainesville, FL 32609

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    • Strip malls
    • 22,475 SF
    • 2.45 lot acres
    For Lease
    $1,500/Mo
    View Listing →
    Gainesville Retail & Office Space For Lease
    $1,500/Mo
    31,375 SF

    Gainesville Retail & Office Space

    Retail, office, and medical spaces available in Glenwood Plaza.

    125 NW 23RD AVENUE, Gainesville, FL 32609
    View Listing
    Property ID
    US19-0387670
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strongtree Organic Coffee Roasters / Big Box & Wholesale Store
    • Monster Press & the Moonstone Studio / Department Store
    • Karma Collisions & Engineering, LLC / Auto Repair Shop
    • OG Homebrew Supply / Big Box & Wholesale Store / Specialty Food Shop

    Property Details for 125 NW 23Rd Ave

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    2.45 lot acres
    Property size
    22,475 SF
    Zone code
    PD
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    09989-003-001
    APU
    9989003001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3261
    Latitude
    29.6733
    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
    $30,521
    $449,198
    $778,202
    $1,227,400
    -
    $449,198
    $778,202
    $1,227,400

    Comparable in this City

    • Value Estimation
      $1,140,000
      12,000 SF

      2327 13th St

      SHOPPING CENTER, STRIP CENTER • 12,000 SF
      2327 13th St, Gainesville, FL 32609-2839
      View Details
    • Value Estimation
      $785,000
      6,432 SF

      4323 6th St

      SHOPPING CENTER, STRIP CENTER • 6,432 SF
      4323 6th St, Gainesville, FL 32609-4195
      View Details
    • Value Estimation by Request
      3,049 SF

      2131 6th St

      SHOPPING CENTER, STRIP CENTER • 3,049 SF
      2131 6th St, Gainesville, FL 32609-3582
      View Details
    • Value Estimation by Request
      3,542 SF

      1602 Waldo Rd

      SHOPPING CENTER, STRIP CENTER • 3,542 SF
      1602 Waldo Rd, Gainesville, FL 32609-3983
      View Details
    • Value Estimation
      $1,825,000
      9,940 SF

      2231 13th St

      SHOPPING CENTER, STRIP CENTER • 9,940 SF
      2231 13th St, Gainesville, FL 32609-4162
      View Details
    • Value Estimation by Request
      3,780 SF

      203 39th Ave

      SHOPPING CENTER, STRIP CENTER • 3,780 SF
      203 39th Ave, Gainesville, FL 32609-1724
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,245 SF

      Gainesville Retail Building with Office

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      Mixed-Use Corner Lot Opportunity

      Mixed-use corner lot with high traffic and redevelopment potential.
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      Gainesville Mixed-Use Retail/Office Building

      Retail/office building with two sections on 0.42 acres.
      1820 NE 2Nd St, Gainesville, FL 32609
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    • $1,990,000

      Automotive Property on Main Street

      Automotive property with long-term lease in prime location.
      2525 N Main St, Gainesville, FL 32609
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    • $1,600,000
      Pending

      Gainesville Mixed-Use Development Opportunity

      5.76 acres of mixed-use land with development potential.
      2301 NW 6Th St, Gainesville, FL 32609
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    Similar Nearby for Lease

    • Contact for pricing
      3,400 SF

      Gainesville Retail Space For Lease

      Retail spaces available in a plaza near the University of Florida.
      2601 NW 13Th St, Gainesville, FL 32609
      View Details
    • $1,500 /Mo
      31,375 SF

      Gainesville Retail & Office Space

      Retail, office, and medical spaces available in Glenwood Plaza.
      125 NW 23Rd Ave, Gainesville, FL 32609
      View Details
    • Contact for pricing

      Retail Shopping Center in Gainesville

      165,705 SF retail center near University of Florida.
      2649 NW 13Th St, Gainesville, FL 32609
      View Details
    • $18,000 /Mo

      Glenwood Plaza Retail and Office

      Retail, office, and medical spaces available for lease.
      125 NW 23Rd Ave, Gainesville, FL 32609
      View Details
    • $9,600 /Mo
      1,200 SF

      Gainesville Retail Space Available

      Retail space for lease in Gainesville, Florida.
      3051 NE 21St Way, Gainesville, FL 32609
      View Details
    • $14 SF/Yr
      7,200 SF

      Versatile Commercial Space Available

      Adaptable commercial building suitable for retail, office, or warehouse use.
      4322 NW 13Th St, Gainesville, FL 32609
      View Details
    View Listing
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    Gainesville, FL 32609
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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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    125 NW 23Rd Ave, Gainesville, FL, 32609
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