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    Property profile & analytics

    2846 87th Way Gainesville, FL 32608-9341

    • Medical Office Space
    • 11,683 SF
    • 1.28 lot acres
    OFF-MARKET
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3267701
    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

    • UF Health Family Medicine – Haile Plantation / Medical Clinic
    • Dr. Lucia R. Hansen, MD / Pediatrician / Physician
    • Family Medicine at Haile Plantation / Medical Clinic
    • UF Health Orthopaedics and Sports Medicine - Haile Plantation / Rehabilitation Center / Orthopedic Surgeon
    • Paul Luther Ufhgnv Hods At Gnv / Physician / Medical Clinic

    Property Details for 2846 87th Way

    Year built
    2015
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.28 lot acres
    Property size
    11,683 SF
    Zone code
    PD
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    06860-366-086
    APU
    6860366086

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,274,000
      Market price range: $1.21M - $2.34M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,715,000
      Current use
      WAREHOUSE, STORAGE
      $1,470,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.436
    Latitude
    29.6275
    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
    $33,638
    $615,700
    $971,800
    $1,587,500
    -
    $615,700
    $971,800
    $1,587,500

    Comparable in this City

    • Value Estimation by Request
      2,011 SF

      9161 49th Pl

      MEDICAL BUILDING • 2,011 SF
      9161 49th Pl, Gainesville, FL 32608-8104
      View Details
    • Value Estimation
      $1,000,000
      10,272 SF

      5533 64th St

      MEDICAL BUILDING • 10,272 SF
      5533 64th St, Gainesville, FL 32608-9608
      View Details
    • Value Estimation by Request
      6,884 SF

      3217 47th Ave

      MEDICAL BUILDING • 6,884 SF
      3217 47th Ave, Gainesville, FL 32608-7685
      View Details
    • Value Estimation
      $2,180,000
      23,578 SF

      3007 Williston Rd

      MEDICAL BUILDING • 23,578 SF
      3007 Williston Rd, Gainesville, FL 32608-3928
      View Details
    • Value Estimation by Request
      2,720 SF

      5209 91st Dr

      MEDICAL BUILDING • 2,720 SF
      5209 91st Dr, Gainesville, FL 32608-3028
      View Details
    • Value Estimation by Request
      2,819 SF

      3300 34th St

      MEDICAL BUILDING • 2,819 SF
      3300 34th St, Gainesville, FL 32608-1716
      View Details

    Similar Nearby for Sale

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      Gainesville Medical Office Building

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    • $6,600,000
      20.00 Acres

      Gainesville Land Development Opportunity

      20-acre mixed-use development opportunity in Gainesville, Florida.
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    • $6,600,000
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      Gainesville Mixed-Use Development Opportunity

      20-acre mixed-use development opportunity in Gainesville, Florida.
      1602a SW Williston Rd, Gainesville, FL 32608
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    • $577,700

      Gainesville Office Building in Golf Community

      High-end office building with four offices in a golf community.
      5220 Sw 91St Ter, Gainesville, FL 32608
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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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    • $7,499,000

      Class A Industrial/Flex Building

      Fully leased investment opportunity near I-75 in Gainesville, Florida.
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    Similar Nearby for Lease

    • $11,400 /Mo

      Haile Village Office/Retail Space

      All-inclusive office or retail space in Haile Village.
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    • $27 SF/Yr

      Gainesville Office Space Opportunity

      Prime office space for rent in a thriving commercial area.
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    • Contact for pricing
      3,967 SF

      Gainesville Office Space For Rent

      Office space with flexible layout and high traffic exposure.
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    • $27,600

      Modern Furnished Office in Gainesville

      Professionally designed, fully furnished office space in Haile Plantation.
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    • Contact for pricing
      28,000 SF

      Gainesville Office Space Available

      28,000 square foot office space for rent.
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      View Details
    • $7,200 /Mo

      Haile Village Center Office Space

      Office space in a sought-after community with mixed residences.
      4965 SW 91St Ter, Gainesville, FL 32608
      View Details
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    2846 87th Way
    Gainesville, FL 32608-9341
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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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