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

    3700 42nd St Gainesville, FL 32608-2383

    • Motels
    • 45,271 SF
    • 2.04 lot acres
    OFF-MARKET
    Last Sale
    Mar 20, 2020
    $6,867,000
    Value Estimations
    $6,760,000
    Show details
    Cap Rate Potential
    3.5%
    Motels
    Location Intelligence
    Property ID
    US19-0290580
    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

    • Courtyard Gainesville FL / Hotel & Motel
    • The Bistro – Eat. Drink. Connect.® / Restaurant

    Property Details for 3700 42nd St

    Year built
    1996
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.04 lot acres
    Property size
    45,271 SF
    Zone code
    BI
    Property type
    Motels
    APN
    06800-014-000
    APU
    6800014000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,710,000
      ML approach
      $6,590,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $7,220,000
      OFFICE BUILDING
      $6,295,000
      APARTMENT HOUSE (5+ UNITS)
      $5,485,000
      RESTAURANT
      $5,380,000
      WAREHOUSE, STORAGE
      $5,070,000
      RETAIL STORES
      $4,935,000
      COMMERCIAL (GENERAL)
      $4,770,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3862
    Latitude
    29.62
    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
    $102,109
    $1,478,205
    $3,280,595
    $4,758,800
    -
    $1,478,205
    $3,280,595
    $4,758,800

    Comparable in this City

    • Value Estimation
      $935,000
      92,735 SF

      5020 30th Ln

      MOTEL • 92,735 SF
      5020 30th Ln, Gainesville, FL 32608-7991
      View Details
    • Value Estimation by Request
      7,807 SF

      4202 40th Blvd

      MOTEL • 7,807 SF
      4202 40th Blvd, Gainesville, FL 32608-2306
      View Details
    • Value Estimation
      $690,000
      13,462 SF

      3455 Williston Rd

      MOTEL • 13,462 SF
      3455 Williston Rd, Gainesville, FL 32608-5050
      View Details
    • Value Estimation
      $710,000
      45,504 SF

      5505 41st Blvd

      MOTEL • 45,504 SF
      5505 41st Blvd, Gainesville, FL 32608-4970
      View Details
    • Value Estimation
      $820,000
      73,224 SF

      3333 42nd St

      MOTEL • 73,224 SF
      3333 42nd St, Gainesville, FL 32608-2386
      View Details
    • Value Estimation
      $1,390,000
      103,808 SF

      3726 40th Blvd

      MOTEL • 103,808 SF
      3726 40th Blvd, Gainesville, FL 32608-2349
      View Details

    Similar Nearby for Sale

    • $3,500,000
      10.00 Acres

      Gainesville Commercial/Residential Land

      10-Acre Tract, Prime Gainesville Location
      5881 34Th St, Gainesville, FL 32608
      View Details
    • $7,449,000
      20.00 Acres

      Gainesville Mixed-Use Development Opportunity

      20-acre site ideal for mixed-use, residential, medical, or commercial development.
      1602a SW Williston Rd, Gainesville, FL 32608
      View Details
    • $1,450,000
      1.12 Acres

      Gainesville Land Near Butler Plaza

      2.17 acres across from Butler Plaza, Gainesville, Florida.
      4124 SW 38Th St, Gainesville, FL 32608
      View Details
    • $469,900
      3,600 SF

      Gainesville Quadruplex Remodeled Units

      Gainesville, Florida quadruplex featuring remodeled two-bedroom units.
      3304 SW 26Th Ter, Gainesville, FL 32608
      View Details
    • $1,400,000
      7.56 Acres

      Gainesville Residential Development Land Parcel

      7.56-acre residential development land near UF Health Shands Hospital.
      8717 SW Archer Rd, Gainesville, FL 32608
      View Details
    • $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

    Similar Nearby for Lease

    • New
      $1,500 /Mo
      1,122 SF

      Gainesville Mixed-Use Space Available

      Office, retail, or service space in high-traffic area.
      4936 SW 91St Ter, Gainesville, FL 32608
      View Details
    • 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
    • $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
    • Contact for pricing

      Land for Rent

      Commercial land available for rent on SW Archer Rd.
      Gainesville, FL 32608
      View Details
    • $27,600

      Retail Space Available For Rent

      Retail space available for lease at $11 per square foot.
      9144 SW 49Th St, 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

    Property Visit Statistics

    • Visits by month
      7.6k
    • Visitors by month
      2.6k
    • Avg Time on site
      466 min
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    Gainesville, FL 32608-2383
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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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