Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    20 2nd Pl Gainesville, FL 32601-6566

    • High-rise multifamily apartments
    • 24,248 SF
    • 0.02 lot acres
    OFF-MARKET
    Last Sale
    Dec 27, 2022
    Value Estimations
    $540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2061634
    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.

    Current Use by Public Records

    • High-rise multifamily apartments

    Property Details for 20 2nd Pl

    Year built
    2022
    Construction
    STEEL FRAME
    Lot size
    0.02 lot acres
    Property size
    24,248 SF
    Zone code
    DT
    Property type
    High-rise multifamily apartments
    APN
    14562-004-000
    APU
    14562004000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $540,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3247
    Latitude
    29.6499
    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
    $116,191
    $318,566
    $4,825,434
    $5,144,000
    -
    $318,566
    $4,825,434
    $5,144,000

    Comparable in this City

    • Value Estimation
      $270,000
      3,284 SF

      207 Blvd Boulevard

      HIGH-RISE APARTMENTS • 3,284 SF
      207 Blvd Boulevard, Gainesville, FL 32601-3452
      View Details
    • Value Estimation
      $1,015,000
      84,020 SF

      725 13th St

      HIGH-RISE APARTMENTS • 84,020 SF
      725 13th St, Gainesville, FL 32601-4918
      View Details
    • Value Estimation
      $220,000
      14,896 SF

      307 16th Ave

      HIGH-RISE APARTMENTS • 14,896 SF
      307 16th Ave, Gainesville, FL 32601-8561
      View Details
    • Value Estimation
      $540,000
      70,518 SF

      400 1st Ave

      HIGH-RISE APARTMENTS • 70,518 SF
      400 1st Ave, Gainesville, FL 32601-3246
      View Details
    • Value Estimation
      $780,000
      187,176 SF

      1258 3rd Ave

      HIGH-RISE APARTMENTS • 187,176 SF
      1258 3rd Ave, Gainesville, FL 32601-4911
      View Details
    • Value Estimation
      $575,000
      8,520 SF

      811 8th St

      HIGH-RISE APARTMENTS • 8,520 SF
      811 8th St, Gainesville, FL 32601-8063
      View Details

    Similar Nearby for Sale

    • $7,000,000
      36,000 SF

      Palms Condominiums: Gainesville Investment

      32-Unit Multifamily Complex, 100% Occupancy
      230 2Nd Ave, Gainesville, FL 32601
      View Details
    • $650,000
      2,498 SF

      Gainesville Duplex Investment Opportunity

      Two properties on one lot near Downtown Gainesville.
      228 NW 4Th Ave, Gainesville, FL 32601
      View Details
    • $625,000
      1,812 SF

      Investment Property Near UF Campus

      Income-generating duplex with parking near the University of Florida.
      113 NW 11Th St, Gainesville, FL 32601
      View Details
    • $995,000

      Student Housing Rental Property

      Three fully remodeled units leased through July 2026.
      1006 SW 8Th Ave, Gainesville, FL 32601
      View Details
    • $698,000
      2,826 SF

      Gainesville Duplex with Studio Apartment

      Midtown investment opportunity: fully leased duplex plus detached studio.
      1102 NW 3Rd Ave, Gainesville, FL 32601
      View Details
    • $399,900
      1 SF

      Gainesville Mixed-Use Development Opportunity

      Prime UF location, 0.37 acres, residential potential.
      Gainesville, FL 32601
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      1,742 SF

      Downtown Gainesville Retail Condo

      Prime Downtown Gainesville Retail Space
      201 2Nd Ave, Gainesville, FL 32601
      View Details
    • Contact for pricing
      28,933 SF

      Gainesville Retail Center Investment

      Prime Gainesville Shopping Center - Multiple Spaces Available
      1002-1320 Main St, Gainesville, FL 32601
      View Details
    • $14,400 /Mo

      Gainesville Commercial Space For Rent

      Versatile commercial space in historic Gainesville, near downtown.
      430 NW 5Th Ave, Gainesville, FL 32601
      View Details
    • $2,500 /Mo
      224 SF

      Turnkey Restaurant Opportunity in Gainesville

      Fully equipped, stationary 'food truck' style kitchen for lease.
      931 SW 2Nd Ave, Gainesville, FL 32601
      View Details
    • $5,643 /Mo
      3,078 SF

      Gainesville Office Space For Rent

      Office space available for rent in Gainesville, Florida.
      1050 NW 8Th Ave, Gainesville, FL 32601
      View Details
    • Contact for pricing
      4,001 SF

      Retail Space Near University of Florida

      Retail space available across from the University of Florida.
      407 SW 13Th St, Gainesville, FL 32601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20 2nd Pl
    Gainesville, FL 32601-6566
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.