Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    502 Main St Gainesville, FL 32601-6720

    • Warehouses
    • 7,500 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Feb 23, 2023
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3152279
    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

    • The Warehouse Restaurant and Lounge / Fine Dining Restaurant / Bar & Grill
    • Tinker Latin Restaurant (Main st) / Restaurant / Latin American Restaurant
    • Tinker Restaurant / Restaurant

    Property Details for 502 Main St

    Year built
    1936
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.92 lot acres
    Property size
    7,500 SF
    Zone code
    U6
    Property type
    Warehouses
    APN
    12877-000-000
    APU
    12877000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3254
    Latitude
    29.6468
    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
    $12,690
    $300,564
    $203,290
    $503,854
    -
    $300,564
    $203,290
    $503,854

    Comparable in this City

    • Value Estimation
      $385,000
      7,450 SF

      118 14th Ave

      WAREHOUSE, STORAGE • 7,450 SF
      118 14th Ave, Gainesville, FL 32601-2268
      View Details
    • Value Estimation
      $680,000
      880 SF

      200 16th Ave

      WAREHOUSE, STORAGE • 880 SF
      200 16th Ave, Gainesville, FL 32601-8605
      View Details
    • Value Estimation
      $415,000
      1,460 SF

      508 11th Ave

      WAREHOUSE, STORAGE • 1,460 SF
      508 11th Ave, Gainesville, FL 32601-8078
      View Details
    • Value Estimation
      $1,045,000
      214,810 SF

      1210 8th Ave

      MINI-WAREHOUSE, STORAGE • 214,810 SF
      1210 8th Ave, Gainesville, FL 32601
      View Details
    • Value Estimation
      $605,000
      6,101 SF

      1040 Main St

      WAREHOUSE, STORAGE • 6,101 SF
      1040 Main St, Gainesville, FL 32601-7988
      View Details
    • Value Estimation
      $315,000
      4,000 SF

      902 4th St

      WAREHOUSE, STORAGE • 4,000 SF
      902 4th St, Gainesville, FL 32601-4285
      View Details

    Similar Nearby for Sale

    • $850,000
      4,650 SF

      Gainesville Industrial Warehouse

      Mixed-use warehouse, great location.
      1529 Main St, Gainesville, FL 32601
      View Details
    • $1,950,000
      19,374 SF

      Gainesville Warehouses Near Depot Park

      Two warehouses on 1.26 acres near Depot Park.
      250 SE 10Th Ave, Gainesville, FL 32601
      View Details
    • $850,000
      4,650 SF

      Mixed-Use Development Site For Sale

      Mixed-use development site near Depot Park, suitable for various businesses.
      1529 S Main St, Gainesville, FL 32601
      View Details
    • $1,500,000
      17,706 SF

      Gainesville Office Building Assemblage

      Four buildings, 17,706 SF, prime location.
      6Th St, Gainesville, FL 32601
      View Details
    • $5,500,000

      Prime Downtown Gainesville Development Opportunity

      1.41 acre development site in the heart of Gainesville.
      413 S Main St, Gainesville, FL 32601
      View Details
    • $4,500,000
      3,355 SF

      Commercial Property Assemblage For Sale

      1.51-acre commercial property with two buildings on NW 13th St.
      706 NW 13Th St, Gainesville, FL 32601
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      2,640 SF

      Industrial Warehouse Space Available

      Industrial warehouse space for lease with ample parking.
      130 SE 10Th Ave, Gainesville, FL 32601
      View Details
    • $20 SF/Yr
      3,200 SF

      Gainesville Flex Space with Offices

      3,200± SF flex space with offices and storage.
      1022 NW 2Nd St, Gainesville, FL 32601
      View Details
    • $20 SF/Yr
      6,478 SF

      Gainesville Restaurant Space Available

      Prime West University location, 5,000 sq ft available.
      706 University Ave, Gainesville, FL 32601
      View Details
    • Contact for pricing
      55,000 SF

      Gainesville Executive Office Suites

      Class A Office Space Available Now
      800 2Nd Ave, Gainesville, FL 32601
      View Details
    • $2,500 /Mo
      3,900 SF

      Gainesville Service Shop For Rent

      Service shop with bay doors, lifts, and spray booth.
      1550 SE 3Rd Ave, Gainesville, FL 32601
      View Details
    • Contact for pricing

      Gainesville Commercial Land For Rent

      Commercial land for rent near University of Florida and UF Health.
      1220 N Main St, Gainesville, FL 32601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    502 Main St
    Gainesville, FL 32601-6720
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.