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Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Office buildings
1604 3rd Ave Gainesville, FL 32641-7346
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-8906871
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1917
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,865 SF
Lot
0.83 ac (36,155 SF)
Zoning code
U6
APN
11627-001-000
UPID
US18-8906871
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
-
Honor Center for Veteran's Bus Stop
-
VA Honor Center Corporate Office
-
Gainesville VA Domiciliary Medical Clinic
-
Domicillary Housing Authority
-
The Lords Obedient Services Ministries Church Mosque
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.02M
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$1.88M
Owner & transaction history
Arg Vagnvfl001 LLC · 8 yrs held
Arg Vagnvfl001 LLC
since 2018
7 recorded transactions
Zoning & alternative use
U6 · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+68.3%
Retail stores
$2.1M
+29.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,190,000
6.5%
$2,020,000
7%
$1,875,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,635,000
Current use
RESTAURANT
$2,755,000
Change: +68% · Conversion: Moderate
RETAIL STORES
$2,130,000
Change: +30% · Conversion: Moderate
MEDICAL BUILDING
$1,450,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±10%
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
$191 / 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
$34,062
Tax year 2023
Assessed value
$1,390,900
Assessed 2023
Previous assessed
$1,390,900
+0.0% YoY
Effective rate
2.45%
On assessed value
Assessed land
$27,000
Assessed improvement
$1,363,900
Land market value
$27,000
Improvement market value
$1,363,900
Total market value
$1,390,900
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
1917
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
100
Rooms
56
Bathrooms
64
Total area
9,865 SF
Lot
0.83 ac (36,155 SF)
Zoning code
U6
APN
11627-001-000
UPID
US18-8906871
Jurisdiction
ALACHUA
Zoning & alternative use
U6 · Gainesville, FL
Zoning U6 · permitted uses
U6 · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.8M
RETAIL STORES
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1917
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
100
Rooms
56
Bathrooms
64
Lot
0.83 ac
Current owner
From public records · entity-resolved
Arg Vagnvfl001 LLC
Entity
Mailing address
405 PARK AVE, NEW YORK, NY 10022-4405
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2018
$7,630,000
Arg Vagnvfl001 LLC
Rokneis Gsa LLC
Grant Deed
—
Dec 23, 2015
$3,000,000
Rokneis Gsa LLC
Ninety Eighth Street Prop INC
Grant Deed
$2,250,000 · Totalbank
Sep 21, 2009
—
Ninety Eighth Street Prop INC
—
Trustees Deed
related
$150,000 · Mercantile Bank
Jul 8, 2009
$2,200,000
Ninety Eighth Street Prop INC
Christian Prison Ministry INC
Warranty Deed
$2,585,000 · Mercantile Bank
Jun 29, 2009
$2,200,000
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
Sep 10, 1998
$337,500
Edward L Jennings
Allen,charles L
Grant Deed
—
—
—
Ninety Eighth Street Prop INC
—
Deed Of Trust
related
$100,000 · Mercantile Bank
—
—
Ninety Eighth Street Prop INC
—
Deed Of Trust
related
$134,287 · Td Bank NA
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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