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Property profile & analytics
FOR SALE
Medical Office Space
4209 Northwest 37Th Pl Gainesville, FL 32606
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US18-2677607
For Sale
1 / 5
$2,626,087
4209 Northwest 37Th Pl, Gainesville, FL 32606
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,537 SF
Lot
1.15 ac (50,094 SF)
Zoning code
PD
APN
06110-001-000
UPID
US18-2677607
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
shands hospital Hospital
-
Banfield Pet Hospital Veterinary Clinic
-
Banfield Veterinary Medical Center Veterinary Clinic
-
Mandese Wendy w DVM Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$880k
Comparable Approach
Comparable
$908k
Blend (final)
Blend
$820k
Owner & transaction history
Paddock Real Investments INC · 11 yrs held
Paddock Real Investments INC
since 2014
7 recorded transactions
Zoning & alternative use
PD · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$685,000
+2.9%
Retail stores
$685,000
+2.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$950,000
6.5%
$880,000
7%
$815,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$665,000
Current use
OFFICE BUILDING
$685,000
Change: +3% · Conversion: Easy
RETAIL STORES
$685,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$570,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$820k
Range $738k – $902k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$181 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$17,871
Tax year 2023
Assessed value
$927,362
Assessed 2023
Previous assessed
$927,362
+0.0% YoY
Effective rate
1.93%
On assessed value
Assessed land
$442,113
Assessed improvement
$485,249
Land market value
$442,113
Improvement market value
$485,249
Total market value
$927,362
Applied tax rate
3,600.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Sale
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
100
Rooms
10
Bathrooms
23
Total area
4,537 SF
Lot
1.15 ac (50,094 SF)
Zoning code
PD
APN
06110-001-000
UPID
US18-2677607
Jurisdiction
ALACHUA
Zoning & alternative use
PD · Gainesville, FL
Zoning PD · permitted uses
PD · Gainesville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gainesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$665,000
OFFICE BUILDING
Est. value
$685,000
RETAIL STORES
Est. value
$685,000
WAREHOUSE, STORAGE
Est. value
$570,000
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
100
Rooms
10
Bathrooms
23
Lot
1.15 ac
Current owner
From public records · entity-resolved
Paddock Real Investments INC
Entity
Mailing address
15100 NW 32ND AVE, NEWBERRY, FL 32669-2868
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2019
—
Paddock Real Investments INC
—
Deed
related
$2,000,000 · Branch Bk&tr
Jan 12, 2017
—
Paddock Hosptality LLC
—
Deed
related
$1,000,000 · Synovus Bank
Sep 2, 2014
$832,000
Paddock Real Investments INC
Millhopper Business Invs INC
Warranty Deed
$2,000,000 · Heritagebank Of The South
May 13, 2011
$1,140,000
Millhopper Business Invs INC
Goldman,richard A & Lynne G
Warranty Deed
$969,000 · Bank Of America
Feb 15, 2007
—
Goldman Lynne G Trust
Goldman,richard A & Lynne
Quit Claim Deed
related
—
—
—
Richard A Goldman
—
Deed Of Trust
related
$390,238 · Nationsbank
—
—
Paddock Real Investments INC
—
Deed Of Trust
related
$2,000,000 · Branch Bk&tr
—
—
Richard A Goldman
—
Deed Of Trust
related
$126,581 · Bank Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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