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Property profile & analytics
OFF-MARKET
Estimated value
$7,915,000
Assisted living facilities
1901 2nd St, Gainesville, FL 32609-3796
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-4846833
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
70,145 SF
Lot
6.06 ac (264,017 SF)
Zoning code
RMF6
APN
10071-002-002
UPID
US18-4846833
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
-
Pine Grove Apartments Apartment Building
-
Sunshine Apartments Apartment Complex
-
Wellness Clinic At Pinegrove Home Health Care Service
-
1one On One Thearpy Of Putnam Community Center Medical Clinic
-
Volunteers of America Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.92M
Owner & transaction history
Pine Grove Voa Affordable Housing L · 4 yrs held
Pine Grove Voa Affordable Housing L
since 2022
Last sale
$7.8M
1 recorded transaction
Zoning & alternative use
RMF6 · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$11.4M
+223.9%
Office building
$9.6M
+173.9%
Restaurant
$9.1M
+160.6%
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
$6,325,000
ML approach
$8,170,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$11,355,000
Change: +224% · Conversion: Difficult
OFFICE BUILDING
$9,600,000
Change: +174% · Conversion: Difficult
RESTAURANT
$9,135,000
Change: +161% · Conversion: Difficult
RETAIL STORES
$7,440,000
Change: +112% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,390,000
Change: +111% · Conversion: Difficult
MEDICAL BUILDING
$6,775,000
Change: +93% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,430,000
Change: +83% · Conversion: Difficult
Blend value · Realmo final
$7.92M
Range $7.12M – $8.71M · ±10% · vs last sale $7.79M (Feb 28 2022)
Last sale anchor
$7.79M
Feb 28 2022
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
$113 / 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
$5,216
Tax year 2023
Assessed value
$7,393,500
Assessed 2023
Previous assessed
$3,729,647
+98.2% YoY
Effective rate
0.07%
On assessed value
Assessed land
$1,327,089
Assessed improvement
$6,066,411
Land market value
$1,327,089
Improvement market value
$6,066,411
Total market value
$7,393,500
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
WALL UNIT
Stories
3
Units
100
Rooms
97
Bathrooms
300
Total area
70,145 SF
Lot
6.06 ac (264,017 SF)
Zoning code
RMF6
APN
10071-002-002
UPID
US18-4846833
Jurisdiction
ALACHUA
Zoning & alternative use
RMF6 · Gainesville, FL
Zoning RMF6 · permitted uses
RMF6 · 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
AUTO REPAIR, GARAGE
Est. value
$11.4M
OFFICE BUILDING
Est. value
$9.6M
RESTAURANT
Est. value
$9.1M
RETAIL STORES
Est. value
$7.4M
COMMERCIAL (GENERAL)
Est. value
$7.4M
MEDICAL BUILDING
Est. value
$6.8M
WAREHOUSE, STORAGE
Est. value
$6.4M
AUTO REPAIR, GARAGE
OFFICE BUILDING
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
100
Rooms
97
Bathrooms
300
Lot
6.06 ac
Current owner
From public records · entity-resolved
Pine Grove Voa Affordable Housing L
Individual
Mailing address
1660 DUKE ST, ALEXANDRIA, VA 22314-3473
Ownership since
2022
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
Feb 28, 2022
$7,790,000
Pine Grove Voa Affordable Housing L
Gainesville Voa Elderly Housing INC
Special Warranty Deed
$8,075,000 · Us 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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