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    The Largest CRE Database in the US with Over 1 Million Listings
    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
    $9,900,000
    Show details
    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

      Method
      Estimation
      Statistic approach
      $10,545,000
      ML approach
      $6,590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,979,000
      Market price range: $1.81M - $15.2M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $10,195,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $8,255,000
      Change: -19% Conversion: Difficult

    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
      $220,000
      5,287 SF

      3440 28th Ter

      HIGH-RISE APARTMENTS • 5,287 SF
      3440 28th Ter, Gainesville, FL 32608-2721
      View Details
    • Value Estimation
      $1,030,000
      6,480 SF

      2930 23rd Ter

      HIGH-RISE APARTMENTS • 6,480 SF
      2930 23rd Ter, Gainesville, FL 32608-2956
      View Details
    • Value Estimation
      $255,000
      7,000 SF

      1321 21st Ave

      HIGH-RISE APARTMENTS • 7,000 SF
      1321 21st Ave, Gainesville, FL 32608
      View Details
    • Value Estimation
      $450,000
      11,706 SF

      2800 35th Pl

      HIGH-RISE APARTMENTS • 11,706 SF
      2800 35th Pl, Gainesville, FL 32608-2718
      View Details
    • Value Estimation
      $985,000
      5,980 SF

      3100 35th Pl

      HIGH-RISE APARTMENTS • 5,980 SF
      3100 35th Pl, Gainesville, FL 32608-7600
      View Details
    • Value Estimation
      $265,000
      1,575 SF

      2841 37th Pl

      HIGH-RISE APARTMENTS • 1,575 SF
      2841 37th Pl, Gainesville, FL 32608-6738
      View Details

    Similar Nearby for Sale

    • $85,000

      Gainesville Multifamily Investment Opportunity

      Multifamily property near UF and Shands Hospital.
      2811 SW Archer Rd, Gainesville, FL 32608
      View Details
    • $895,000

      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
      10,804 SF

      Haile Village Mixed-Use Portfolio

      Mixed-use investment opportunity in Haile Village Center, Gainesville.
      5213 SW 91St Dr, Gainesville, FL 32608
      View Details
    • $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
      View Details
    • $1,373,760

      Haile Village Center Retail/Residential

      Retail space and residential apartments in Haile Village Center.
      5207 SW 91St Ter, Gainesville, FL 32608
      View Details
    • $455,000

      Gainesville Quadplex with Remodeled Units

      Well-maintained quadplex near UF campus with long-term tenants.
      3219 SW 26Th Dr, Gainesville, FL 32608
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    Similar Nearby for Lease

    • $1,250 /Mo

      Updated Condo Near UF

      Updated 2 bed, 1.5 bath condo near UF.
      3934 SW 26Th Dr, Gainesville, FL 32608
      View Details
    • $27 SF/Yr
      4,016 SF

      Gainesville Office Space: 4016 sq ft

      Prime Gainesville office, 4016 sq ft, flexible layout.
      3833 37Th Blvd, Gainesville, FL 32608
      View Details
    • $40 SF/Yr
      776 SF

      Retail Space Near Butler Plaza

      776 SF retail space with high visibility and traffic.
      3312 SW 35Th Blvd, Gainesville, FL 32608
      View Details
    • $39,600

      Retail Space Available For Rent

      Retail space available for lease in Gainesville, Florida.
      5214 SW 91St Ter, Gainesville, FL 32608
      View Details
    • $19 SF/Yr
      1,400 SF

      Retail Space in Publix-Anchored Center

      Retail space available in a Publix-anchored shopping center.
      5150-5248 SW 34Th St, Gainesville, FL 32608
      View Details
    • $11 SF/Yr
      980 SF

      Gainesville Flex Warehouse Space Available

      Flex warehouse spaces with roll-up doors and easy I-75 access.
      3709 SW 42Nd Ave, 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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