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Property profile & analytics
FOR SALE
Warehouses
1995 NE 31St Ave Gainesville, FL 32609
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5202036
For Sale
1 / 15
$649,000
1995 NE 31St Ave, Gainesville, FL 32609
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,680 SF
Lot
0.46 ac (20,038 SF)
Zoning code
I2
APN
08199-008-000
UPID
US18-5202036
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
-
Level Headed Properties Construction Company
-
License to Pass (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$555k
Owner & transaction history
Watersstone Holdings LLC · 4 yrs held
Watersstone Holdings LLC
since 2021
Last sale
$549,000
7 recorded transactions
Zoning & alternative use
I2 · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$415,000
ML approach
$455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$870,000
Current use
Blend value · Realmo final
$555k
Range $500k – $611k · ±10% · vs last sale $549k (Nov 24 2021)
Last sale anchor
$549k
Nov 24 2021
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
$72 / 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
$13,051
Tax year 2023
Assessed value
$624,657
Assessed 2023
Previous assessed
$482,293
+29.5% YoY
Effective rate
2.09%
On assessed value
Assessed land
$120,226
Assessed improvement
$504,431
Land market value
$120,226
Improvement market value
$504,431
Total market value
$624,657
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Units
100
Rooms
1
Bathrooms
3
Total area
7,680 SF
Lot
0.46 ac (20,038 SF)
Zoning code
I2
APN
08199-008-000
UPID
US18-5202036
Jurisdiction
ALACHUA
Zoning & alternative use
I2 · Gainesville, FL
Zoning I2 · permitted uses
I2 · 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
WAREHOUSE, STORAGE Current
Est. value
$870,000
WAREHOUSE, STORAGE Current
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Units
100
Rooms
1
Bathrooms
3
Lot
0.46 ac
Current owner
From public records · entity-resolved
Watersstone Holdings LLC
Entity
Mailing address
3001 SW 4TH CT, GAINESVILLE, FL 32601-9068
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2021
$549,000
Watersstone Holdings LLC
Eric Lenasbunt
Warranty Deed
$411,750 · Florida Cu
Oct 26, 2018
$92,000
Florida First Cap Fin Corp
Bunt Backline Event Svcs LLC
Grant Deed
related
—
Oct 26, 2018
—
Eric Lenasbunt
—
Deed
related
$86,000 · Florida First Cap Fin
Sep 12, 2018
—
Eric G Lenasbunt
—
Deed
related
$107,500 · Florida Cu
Aug 15, 2018
$207,500
Eric G Lenasbunt
Kepler Ents LLC
Warranty Deed
$107,500 · Florida Cu
Nov 25, 2013
$189,000
Kepler Ents LLC
Merchants & Sthrn Bk
Grant Deed
$160,650 · Merchants & Southern Bank
Feb 22, 2013
$3,000
Merchants Bk
Bender Theresa M
Grant Deed
—
Feb 25, 2008
$340,000
Larry Hagstrom
Rucker,robert V & Janet T
Warranty Deed
$200,000 · Merchants & Southern Bank
—
—
Janet T Rucker
—
Deed Of Trust
related
$67,000 · Merchants & Southern Bank
—
—
Eric Lenasbunt
—
Loan Modification
related
$86,000 · Florida First Cap Fin
—
—
Eric G Lenasbunt
—
Deed Of Trust
related
$107,500 · Florida Cu
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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