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Property profile & analytics
OFF-MARKET
Estimated value
$12,645,000
Assisted living facilities
227 62nd Blvd Gainesville, FL 32607-2084
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-5268058
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1987
Construction
WOOD
Total area
46,933 SF
Lot
7.02 ac (305,791 SF)
Zoning code
OF
APN
06655-002-017
UPID
US18-5268058
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
-
Palm Garden of Gainesville Assisted Living Facility Home Health Care Service
-
TAHIR SALMANI Physician
-
Hal Brodsky Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.65M
Owner & transaction history
Pggai Re LLC · 2 yrs held
Pggai Re LLC
since 2024
Last sale
$12.6M
7 recorded transactions
Zoning & alternative use
OF · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Sec. 30-4.1. - Establishment of zoning districts. The following zoning districts are established to implement the Comprehensive Plan, to promote orderly urban growth, and to classify and regulate the use of land, water, buildings and structures within the city: Transects U1 Urban 1 U2 Urban 2 U3 Urban 3 U4 Urban 4 U5 Urban 5 U6 Urban 6 U7 Urban 7 U8 Urban 8…
Zone name
General Office
General category
RESIDENTIAL
Zone area
270.70 ac
Source
code of ordinances
Top alternative use upside
Apartment house (5+ units)
$9.1M
+286.7%
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
$12,645,000
ML approach
$12,645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$9,070,000
Change: +287% · Conversion: Difficult
Blend value · Realmo final
$12.65M
Range $11.38M – $13.91M · ±10% · vs last sale $12.65M (Jul 31 2024)
Last sale anchor
$12.65M
Jul 31 2024
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
$269 / 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
$183,007
Tax year 2023
Assessed value
$8,590,072
Assessed 2023
Previous assessed
$8,590,072
+0.0% YoY
Effective rate
2.13%
On assessed value
Assessed land
$1,027,980
Assessed improvement
$7,562,092
Land market value
$1,027,980
Improvement market value
$7,562,092
Total market value
$8,590,072
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
1987
Construction
WOOD
Heating
FORCED AIR
Cooling
WALL UNIT
Buildings
3
Stories
1
Units
100
Rooms
108
Bathrooms
79
Total area
46,933 SF
Lot
7.02 ac (305,791 SF)
Zoning code
OF
APN
06655-002-017
UPID
US18-5268058
Jurisdiction
ALACHUA
Zoning & alternative use
OF · Gainesville, FLZoning OF · permitted uses
OF · Gainesville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Sec. 30-4.1. - Establishment of zoning districts. The following zoning districts are established to implement the Comprehensive Plan, to promote orderly urban growth, and to classify and regulate the use of land, water, buildings and structures within the city: Transects U1 Urban 1 U2 Urban 2 U3 Urban 3 U4 Urban 4 U5 Urban 5 U6 Urban 6 U7 Urban 7 U8 Urban 8 U9 Urban 9 DT Downtown Residential SF Single-Family RC Residential Conservation MH Mobile Home RMF-5 Single/Multi-Family RMF-6 to 8 Multi-Family Mixed-Use and Nonresidential MU-1 Mixed-Use Low-Intensity MU-2 Mixed-Use Medium-Intensity OR Office Residential OF General Office CP Corporate Park BUS General Business BA Automotive-Oriented Business BT Tourist-Oriented Business BI Business Industrial W Warehousing and Wholesaling I-1 Limited Industrial I-2 General Industrial Special Districts AGR Agriculture AF Airport Facility CON Conservation ED Educational Services MD Medical Services PD Planned Development PS Public Services and Operations Airport Hazard Zoning Overlay Heritage Overlay Historic Preservation/Conservation Overlay ( Ord. No. 211358 , §§ 3, 4, 10-17-22; Ord. No. 2023-168 , §§ 3, 4, 6-1-23; Ord. No. 2024-263 , § 3, 10-3-24)
Zone name
General Office
General category
RESIDENTIAL
Zone area
270.70 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.1M
APARTMENT HOUSE (5+ UNITS)
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
1987
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
100
Rooms
108
Bathrooms
79
Lot
7.02 ac
Current owner
From public records · entity-resolved
Pggai Re LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2033 MAIN ST STE #300, SARASOTA, FL 34237-6062
Ownership since
2024
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
Jul 31, 2024
$12,645,800
Pggai Re LLC
Florida Convalescent Centers INC
Warranty Deed
—
Jul 17, 2024
$12,645,781
Pggai Re LLC
Florida Convalescent Centers INC
Warranty Deed
—
Oct 11, 2016
—
Florida Convalescent Centers I
—
Deed
related
$80,066,923 · Capital One NA
Nov 5, 2013
—
Longhorn Properties INC
Sa-pg Operator Holdings LLC
Quit Claim Deed
related
—
Apr 1, 2008
—
Florida Convalescent Centers INC
Kingwood Properties INC
Deed
$42,000,000 · The Privatebank & Trust Co
—
—
Florida Convalescent Centers I
—
Deed Of Trust
related
$84,999,900 · Regions Bk/fayette
—
—
Convalescent Centers I Florida
—
Deed Of Trust
related
$30,000,000 · Capital One
—
—
Florida Convalescent Centers I
—
Loan Modification
related
$80,066,923 · Capital One 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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