Property profile

501 23rd Ave Gainesville, FL 32609

OFF-MARKET
Retail space
Property ID
US18-0611496
2,620 SF 0.38 ac lot Built 1978
Entity Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 2,720 square foot retail or restaurant space, located in Alachua County's Azalea Center, presents a fantastic opportunity for a discerning business owner. Built in 1980, this single-tenant property boasts a highly desirable location on a busy 23rd street, enjoying exceptional visibility and high traffic counts. Its adjacency to a bustling Wards supermarket ensures consistent foot traffic and customer exposure. The space is ideally suited for a variety of uses, having previously served as a BBQ restaurant. Features include two ADA-compliant bathrooms, a full bathroom in the office area, a wired security system, a hot water heater, a small sink, a fully equipped kitchen with a hood and fire suppression system, and a grease trap. Ample storage rooms are available, along with both front and back seating areas, a bar, a designated money receiving area, and several booths. The abundance of natural light enhances the inviting atmosphere. The property also offers two exterior sign locations – one on the main road sign and another above the unit's entrance. Extensive parking is provided, including designated handicap-accessible spaces. This modified lease offers a competitive rate of $13 per square foot, with built-in annual increases. The property is ready for immediate occupancy, allowing you to begin renovations and establish your business without delay. Don't miss this chance to secure a prime location in a thriving area.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1978
Construction STEEL FRAME
Total area 2,620 SF
Lot 0.38 ac (16,553 SF)
Zoning code BUS
APN 10072-001-006
UPID US18-0611496

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Electronics & Wireless Store (Bike/Boat/Book/etc) Store
  • Home Appliance Store
  • Medical Supply Store Wheelchair Repair Service
  • Employment Agency
  • (Bike/Boat/Book/etc) Store

Location

501 23rd Ave Gainesville, FL 32609-8604
Gainesville metro Census 400 GAINESVILLE, FL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$230k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$230k

Owner & transaction history

since 2019
6 recorded transactions
2022
Price N/A
2019
$100
2019
Price N/A
2002
$186,000
2001
$186,000
1969
Price N/A

Zoning & alternative use

BUS · Gainesville, FL
Zoning description

vation MH Mobile Home RMF-5 Single/Multi-Family RMF-6 to 8 Multi-Family Mixed-Use and Nonresidential MU-1 Mixed-Use Low-Intensity MU-2 Mixed-Use Medium-Intensity OR Office Residential OF General Office CP Corporate Park…

General category CIVIC_INSTITUTIONAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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