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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2320 University Ave Gainesville, FL 32641-3952

    • High-rise multifamily apartments
    • 5,166 SF
    • 3.53 lot acres
    OFF-MARKET
    Value Estimations
    $665,000
    Show details
    Cap Rate Potential
    6.1%
    High-rise multifamily apartments
    Location Intelligence
    Property ID
    US18-2953826
    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

    • Harpers Pointe / Apartment Complex

    Property Details for 2320 University Ave

    Year built
    2020
    Construction
    WOOD
    Lot size
    3.53 lot acres
    Property size
    5,166 SF
    Zone code
    MU1
    Property type
    High-rise multifamily apartments
    APN
    11235-005-000
    APU
    11235005000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $740,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $760,000
      6.5%
      $700,000
      7%
      $650,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $523,000
      Market price range: $166k - $814k

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.2949
    Latitude
    29.6528
    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
    $87,466
    $28,596
    $4,840,104
    $4,868,700
    -
    $28,596
    $4,840,104
    $4,868,700

    Comparable in this City

    • Value Estimation
      $885,000
      29,840 SF

      1900 4th St

      HIGH-RISE APARTMENTS • 29,840 SF
      1900 4th St, Gainesville, FL 32641-8791
      View Details
    • Value Estimation
      $480,000
      4,410 SF

      500 18th St

      HIGH-RISE APARTMENTS • 4,410 SF
      500 18th St, Gainesville, FL 32641-7435
      View Details
    • Value Estimation
      $4,520,000
      29,460 SF

      2415 4th Ln

      HIGH-RISE APARTMENTS • 29,460 SF
      2415 4th Ln, Gainesville, FL 32641-7585
      View Details
    • Value Estimation
      $6,455,000
      5,920 SF

      1101 15th St

      HIGH-RISE APARTMENTS • 5,920 SF
      1101 15th St, Gainesville, FL 32641-8230
      View Details
    • Value Estimation
      $1,175,000
      8,704 SF

      1018 41st Dr

      HIGH-RISE APARTMENTS • 8,704 SF
      1018 41st Dr, Gainesville, FL 32641-8443
      View Details
    • Value Estimation
      $620,000
      11,928 SF

      1715 8th Ave

      HIGH-RISE APARTMENTS • 11,928 SF
      1715 8th Ave, Gainesville, FL 32641-6701
      View Details

    Similar Nearby for Sale

    • $220,000

      Gainesville Duplex Investment Opportunity

      Solid duplex near University of Florida, ideal for investors.
      811 NE 20Th St, Gainesville, FL 32641
      View Details
    • $265,900
      1,620 SF

      Income-Producing Duplex in Hammock Oaks

      2-bedroom, 1-bathroom duplex in Hammock Oaks community!
      2212 SE 36Th Ter, Gainesville, FL 32641
      View Details
    • Contact for pricing

      Gainesville Single Family Detached Property

      Single family detached property for sale in Gainesville, Florida.
      Evergreen St And Palm Ave, Gainesville, FL 32641
      View Details
    • $849,000

      Land with Signage Visibility

      Land with excellent visibility and flexible development options.
      NE Waldo Rd, Gainesville, FL 32641
      View Details
    • New
      $59,900
      0.64 Acres

      Buildable Double Lot Opportunity

      Buildable double lot in established neighborhood, minutes from downtown Gainesville.
      1805 SE 47Th Ter, Gainesville, FL 32641
      View Details
    • $4,900,000
      50,719 SF

      Gainesville Office Complex - 50,719 SF

      Multi-tenant office buildings, high traffic area.
      730 Waldo Rd, 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
    • New
      $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
      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
    • $1,300,000
      10,022 SF

      Gainesville Flex Space For Rent

      10,022 SF flex space in a prime location.
      7230 W University Ave, Gainesville, FL 32641
      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.
    2320 University Ave
    Gainesville, FL 32641-3952
    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.