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    Property profile & analytics

    3217 47th Ave Gainesville, FL 32608-7685

    • Medical offices
    • 6,884 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Feb 15, 2021
    $3,500,000
    Value Estimations
    $2,645,000
    Show details
    Cap Rate Potential
    3.3%
    Medical offices
    Location Intelligence
    Property ID
    US18-7334230
    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

    • District 8 Medical Examiner's office / Medical Examiner

    Property Details for 3217 47th Ave

    Year built
    2018
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    6,884 SF
    Zone code
    BUS
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    07240-033-002
    APU
    7240033002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,645,000
      ML approach
      $2,600,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3694
    Latitude
    29.609
    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
    $0.00
    $274,428
    $1,940,783
    $2,215,211
    -
    $274,428
    $1,940,783
    $2,215,211

    Comparable in this City

    • Value Estimation
      $275,000
      11,683 SF

      2846 87th Way

      MEDICAL BUILDING • 11,683 SF
      2846 87th Way, Gainesville, FL 32608-9341
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    • Value Estimation
      $280,000
      2,011 SF

      9161 49th Pl

      MEDICAL BUILDING • 2,011 SF
      9161 49th Pl, Gainesville, FL 32608-8104
      View Details
    • Value Estimation
      $360,000
      10,272 SF

      5533 64th St

      MEDICAL BUILDING • 10,272 SF
      5533 64th St, Gainesville, FL 32608-9608
      View Details
    • Value Estimation
      $445,000
      23,578 SF

      3007 Williston Rd

      MEDICAL BUILDING • 23,578 SF
      3007 Williston Rd, Gainesville, FL 32608-3928
      View Details
    • Value Estimation
      $220,000
      2,720 SF

      5209 91st Dr

      MEDICAL BUILDING • 2,720 SF
      5209 91st Dr, Gainesville, FL 32608-3028
      View Details
    • Value Estimation
      $885,000
      182,000 SF

      1329 16th St

      MEDICAL BUILDING • 182,000 SF
      1329 16th St, Gainesville, FL 32608-1128
      View Details

    Similar Nearby for Sale

    • $380,000
      6,000 SF

      Gainesville Medical Office Building

      Class A, Vacant, 6,000 SF
      3420 98Th St, Gainesville, FL 32608
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    • $720,777
      1,800 SF

      Gainesville Office Building - Golf Community

      High-end office, 1800 sq ft, golf course living
      5220 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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    • $17,500,000
      65,260 SF

      Gainesville Office Building

      65,260 SF Class A Office, $17.5M
      2970 50Th Ter, Gainesville, FL 32608
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    • $577,700
      1,800 SF

      Gainesville Office Building in Golf Community

      High-end office building in a golf community with amenities.
      5220 SW 91St Ter, Gainesville, FL 32608
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    • New
      $2,195,000
      5,801 SF

      Gainesville Office Investment Opportunity

      Commercial property with long-term tenant near University of Florida.
      3205 SW 47Th Ave, Gainesville, FL 32608
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      1,122 SF

      Gainesville Mixed-Use Space For Rent

      Office, retail, or service space in high-traffic Haile Village.
      4936 SW 91St Ter, Gainesville, FL 32608
      View Details
    • $7,200 /Mo

      Haile Village Office/Retail Space

      All-inclusive office or retail space in Haile Village.
      5216 SW 91St Ter, 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
    • $15 SF/Yr
      28,000 SF

      Gainesville Office Space Available

      28,000 square foot office space for rent.
      2700 SW 13Th St, Gainesville, FL 32608
      View Details
    • $25 SF/Yr
      953 SF

      Haile Village Storefront/Office Space

      Turn-key storefront or office space in Haile Village, Gainesville.
      5100 SW 91St Ter, Gainesville, FL 32608
      View Details
    • $62,400

      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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    3217 47th Ave
    Gainesville, FL 32608-7685
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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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