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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Parking lots & garages
1321 16th St Gainesville, FL 32608
Trust Owned
1-yr Hold
Free & Clear
Property ID
US18-4072732
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1993
Total area
36,381 SF
Lot
1.26 ac (54,886 SF)
Zoning code
MD
APN
15485-001-000
UPID
US18-4072732
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$510k
Owner & transaction history
Board Of Trustees Of The Univ Of Fl · 1 yrs held
Board Of Trustees Of The Univ Of Fl
since 2025
1 recorded transaction
Zoning & alternative use
MD · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Medical services (MD). 1. Purpose. The MD district is established to provide adequate space in appropriate locations suitable for accommodating the health and related medical needs of the community. 2. Objectives. The provisions of the MD district are intended to: a. Encourage such development to locate in close proximity to the community's major transportat…
Zone name
Medical Services
General category
UNKNOWN
Zone area
177.19 ac
Source
code of ordinances
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$14 / 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
Assessed value
$5,340,056
Assessed 2023
Previous assessed
$5,340,056
+0.0% YoY
Assessed land
$548,856
Assessed improvement
$4,791,200
Land market value
$548,856
Improvement market value
$4,791,200
Total market value
$5,340,056
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1993
Heating
SOLAR
Cooling
YES
Stories
5
Units
1
Rooms
1
Total area
36,381 SF
Lot
1.26 ac (54,886 SF)
Zoning code
MD
APN
15485-001-000
UPID
US18-4072732
Jurisdiction
ALACHUA
Zoning & alternative use
MD · Gainesville, FLZoning MD · permitted uses
MD · Gainesville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Medical services (MD). 1. Purpose. The MD district is established to provide adequate space in appropriate locations suitable for accommodating the health and related medical needs of the community. 2. Objectives. The provisions of the MD district are intended to: a. Encourage such development to locate in close proximity to the community's major transportation arteries so as to provide maximum accessibility for emergency vehicles and the general public. b. Discourage encroachment by unrelated retail and office activities and other incompatible uses. c. Ensure through development plan review that development is undertaken in a manner compatible with less intense uses of land or buildings in the area. F.
Zone name
Medical Services
General category
UNKNOWN
Zone area
177.19 ac
Source
code of ordinances
Building & site characteristics
From public records
Year built
1993
Heating
SOLAR
Cooling
Yes
Stories
5
Units
1
Rooms
1
Lot
1.26 ac
Current owner
From public records · entity-resolved
Board Of Trustees Of The Univ Of Fl
Trust
Free & Clear · 1 yrs held
Mailing address
PO BOX 14425, GAINESVILLE, FL 32604-2425
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2025
—
Board Of Trustees Of The Univ Of Fl
University Of Florida Foundation In
Special Warranty Deed
—
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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