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    1800 NE 12Th Ave Gainesville, FL 32641
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    Property profile & analytics

    1800 NE 12Th Ave Gainesville, FL 32641

    View on Map
    • Outlet malls
    • 216,080 SF
    • 31.73 lot acres
    For Sale
    $36,035,000
    View Listing →
    Land For Sale For Sale
    $36,035,000

    Land For Sale

    Land available for sale in Gainesville, Florida.

    1800 NE 12th Ave, Gainesville, FL 32641
    View Listing
    Property ID
    US18-5301632
    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

    • Walmart Money Center / Check Cashing
    • Walmart Photo Center / (Bike/Boat/Book/etc) Store
    • Walmart Garden Center / Garden Center
    • Walmart Vision & Glasses / Ophthalmologist / (Bike/Boat/Book/etc) Store
    • EcoATM / Mobile Phone Store / Electronics & Wireless Store

    Property Details for 1800 NE 12Th Ave

    Year built
    2008
    Construction
    STEEL FRAME
    Lot size
    31.73 lot acres
    Property size
    216,080 SF
    Zone code
    MU2
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    10859-010-003
    APU
    10859010003

    Description

    This exceptional 2.23-acre commercial land parcel presents a unique investment opportunity in Gainesville, Florida. Strategically located at the signalized intersection of heavily trafficked State Road 24 and NE 12th Avenue, this outparcel benefits from the significant draw of a Walmart Supercenter anchor tenant. Its prime location offers excellent visibility and accessibility, making it ideal for a variety of commercial uses. The property's zoning is designated as Commercial, allowing for diverse development options. Further enhancing its appeal, the site is conveniently situated just south of Gainesville Regional Airport, providing easy access to transportation networks. The property includes an existing retention pond, simplifying site development and reducing infrastructure costs. This exceptional location, combined with its size and convenient amenities, makes this parcel an attractive investment for developers seeking a high-traffic, high-visibility location in a thriving Florida market. The property is located at 1800 NE 12th Ave, Gainesville, FL 32641, within Alachua County. The lot size is 2.23 acres.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $38,185,000
      6.5%
      $35,245,000
      7%
      $32,730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $45,090,000
      Market price range: $23.5M - $80.5M
      AI Estimate
      $27,763,000
      Market price range: $14.3M - $39.6M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $46,605,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3007
    Latitude
    29.6632
    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
    $291,939
    $3,109,540
    $8,282,297
    $11,391,837
    -
    $3,109,540
    $8,282,297
    $11,391,837

    Comparable in this City

    • Value Estimation
      $950,000
      6,166 SF

      1341 University Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 6,166 SF
      1341 University Ave, Gainesville, FL 32641-5714
      View Details
    • Value Estimation
      $1,155,000
      9,722 SF

      1324 University Ave

      SHOPPING CENTER, STRIP CENTER • 9,722 SF
      1324 University Ave, Gainesville, FL 32641-5713
      View Details
    • Value Estimation
      $780,000
      6,500 SF

      908 Williston Rd

      SHOPPING CENTER, STRIP CENTER • 6,500 SF
      908 Williston Rd, Gainesville, FL 32641-8173
      View Details
    • Value Estimation by Request
      3,240 SF

      1523 8th Ave

      SHOPPING CENTER, STRIP CENTER • 3,240 SF
      1523 8th Ave, Gainesville, FL 32641-4623
      View Details
    • Value Estimation by Request
      2,580 SF

      806 Waldo Rd

      MINI-MALL • 2,580 SF
      806 Waldo Rd, Gainesville, FL 32641-4628
      View Details
    • Value Estimation by Request
      1,160 SF

      1634 8th Ave

      GROCERY, SUPERMARKET • 1,160 SF
      1634 8th Ave, Gainesville, FL 32641-4675
      View Details

    Similar Nearby for Sale

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      0.17 Acres

      Gainesville Development Opportunity: Vacant Lot

      0.17-acre vacant lot in Gainesville's thriving New Gainesville neighborhood.
      245 SE 15Th St, Gainesville, FL 32641
      View Details
    • $30,000
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      Gainesville Agricultural Land For Sale

      0.51-acre vacant parcel ideal for agricultural use.
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    • $55,000
      0.22 Acres

      Prime Lot Near University of Florida

      0.22-acre lot near University of Florida and Downtown Gainesville.
      1528 NE 6Th Ave, Gainesville, FL 32641
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      4,000 SF

      Versatile Flex Space Available

      Adaptable flex space suitable for retail, service, and light industrial.
      2314 NE Waldo Rd, Gainesville, FL 32641
      View Details
    • $2,500 /Mo
      3,900 SF

      Gainesville Automotive/Industrial Facility For Lease

      3,612 SF industrial/automotive facility on 0.33 acre lot for lease.
      1550 SE 3Rd Ave, Gainesville, FL 32641
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    • $30,000

      Gainesville Automotive/Industrial Facility For Lease

      3,612± SF facility ideal for auto or light industrial use.
      1550 SE 3Rd Ave, Gainesville, FL 32641
      View Details
    • $10 SF/Yr
      6,400 SF

      Gainesville Commercial Property For Rent

      Commercial property with office and warehouse space, fenced yard.
      3038 NE Waldo Rd, Gainesville, FL 32641
      View Details
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    Gainesville, FL 32641
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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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