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    Property profile & analytics

    2370 Archer Rd Gainesville, FL 32608-1006

    • High-rise multifamily apartments
    • 11,514 SF
    • 4.00 lot acres
    OFF-MARKET
    Last Sale
    Dec 27, 2021
    $13,958,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2844159
    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

    • GAMMA Himalayan Salt / Association Or Organization
    • Mount Vernon Apartments / Apartment Complex / Apartment Building

    Property Details for 2370 Archer Rd

    Year built
    1969
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    4.00 lot acres
    Property size
    11,514 SF
    Zone code
    RMF8
    Property type
    High-rise multifamily apartments
    APN
    06765-001-000
    APU
    6765001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3583
    Latitude
    29.6349
    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
    $255,251
    $1,530,086
    $9,463,014
    $10,993,100
    -
    $1,530,086
    $9,463,014
    $10,993,100

    Comparable in this City

    • Value Estimation
      $1,195,000
      15,000 SF

      2001 16th St

      HIGH-RISE APARTMENTS • 15,000 SF
      2001 16th St, Gainesville, FL 32608-1453
      View Details
    • Value Estimation
      $1,195,000
      7,498 SF

      3611 34th St

      HIGH-RISE APARTMENTS • 7,498 SF
      3611 34th St, Gainesville, FL 32608-6524
      View Details
    • Value Estimation
      $2,250,000
      16,536 SF

      2800 35th Pl

      HIGH-RISE APARTMENTS • 16,536 SF
      2800 35th Pl, Gainesville, FL 32608-2718
      View Details
    • Value Estimation
      $500,000
      2,520 SF

      3014 41st Ln

      HIGH-RISE APARTMENTS • 2,520 SF
      3014 41st Ln, Gainesville, FL 32608-7663
      View Details
    • Value Estimation by Request
      3,798 SF

      3006 23rd St

      HIGH-RISE APARTMENTS • 3,798 SF
      3006 23rd St, Gainesville, FL 32608-2950
      View Details
    • Value Estimation by Request
      3,294 SF

      3719 30th Ter

      HIGH-RISE APARTMENTS • 3,294 SF
      3719 30th Ter, Gainesville, FL 32608-7653
      View Details

    Similar Nearby for Sale

    • $855,000
      Pending

      Tower Village Eightplex Investment Opportunity

      Eight-unit apartment building near the University of Florida.
      7213 SW 44Th Pl, Gainesville, FL 32608
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    • $1,750,000

      Haile Village Mixed-Use Portfolio

      Mixed-use portfolio in Haile Village Center with commercial and residential spaces.
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    • $1,750,000
      11,018 SF

      Mixed-Use Investment in Haile Village

      High-performing mixed-use investment portfolio in Gainesville's sought-after commercial district.
      5231 SW 91St Dr, Gainesville, FL 32608
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    • $659,925

      Haile Village Mixed-Use Corner Building

      Prime corner building with retail, office, and residential spaces.
      5214 SW 91St Ter, Gainesville, FL 32608
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    • $855,000
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      Tower Village Eightplex Investment Opportunity

      Eight-unit apartment building near University of Florida.
      7213 SW 44Th Pl, Gainesville, FL 32608
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    • $1,750,000
      10,804 SF

      Haile Village Mixed-Use Portfolio

      Mixed-use investment opportunity in Haile Village Center, Gainesville.
      5213 SW 91St Dr, Gainesville, FL 32608
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    Similar Nearby for Lease

    • Contact for pricing
      77,537 SF

      Gainesville Retail Pad - 1.78 Acres

      Prime Gainesville location, ready for development.
      0 34Th St, Gainesville, FL 32608
      View Details
    • Contact for pricing

      Land for Rent

      Commercial land available for rent on SW Archer Rd.
      SW Archer Rd, Gainesville, FL 32608
      View Details
    • $25 SF/Yr

      Haile Village Bistro and Pub

      Turn-key bistro and pub in Haile Village Center.
      5323 SW 91St Ter, Gainesville, FL 32608
      View Details
    • $11,400 /Mo

      Haile Village Office Space

      Office space in a walkable, mixed-use village center.
      5216 SW 91St Ter, Gainesville, FL 32608
      View Details
    • Contact for pricing
      20,473 SF

      Gainesville Commercial Land Lease

      Prime 0.47-acre mixed-use lot, Archer Road.
      0 37Th Blvd, Gainesville, FL 32608
      View Details
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    Gainesville, FL 32608-1006
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    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
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