Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,120,000
Retail space
55 23rd Ave Gainesville, FL 32609-3606
Individually Owned
24-yr Hold
~
Est. High Equity
Property ID
US18-0572317
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1966
Construction
STEEL FRAME
Total area
15,600 SF
Lot
4.09 ac (178,160 SF)
Zoning code
I1
APN
09989-003-000
UPID
US18-0572317
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
-
Salvation Army Family Store Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$2.12M
Owner & transaction history
Salvation Army · 24 yrs held
Salvation Army
since 2002
4 recorded transactions
Zoning & alternative use
I1 · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to provide alcoholic beverage establishment, business services, carwash, drive through facility, emergency shelter, equipment sales, rental and leasing, heavy.
Zone name
Limited Industrial
General category
INDUSTRIAL
Zone area
1,120.07 ac
Source
Realmo
Top alternative use upside
Office building
$3.2M
+29.1%
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%
$2,755,000
6.5%
$2,545,000
7%
$2,365,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,440,000
Current use
OFFICE BUILDING
$3,150,000
Change: +29% · Conversion: Easy
MEDICAL BUILDING
$2,290,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$2.12M
Range $1.91M – $2.33M · ±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
$136 / 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
$602
Tax year 2023
Assessed value
$1,388,772
Assessed 2023
Previous assessed
$1,327,440
+4.6% YoY
Effective rate
0.04%
On assessed value
Assessed land
$570,113
Assessed improvement
$818,659
Land market value
$570,113
Improvement market value
$818,659
Total market value
$1,388,772
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1966
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
3
Stories
1
Units
100
Rooms
3
Bathrooms
3
Total area
15,600 SF
Lot
4.09 ac (178,160 SF)
Zoning code
I1
APN
09989-003-000
UPID
US18-0572317
Jurisdiction
ALACHUA
Zoning & alternative use
I1 · Gainesville, FLZoning I1 · permitted uses
I1 · Gainesville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this zone is to provide alcoholic beverage establishment, business services, carwash, drive through facility, emergency shelter, equipment sales, rental and leasing, heavy.
Zone name
Limited Industrial
General category
INDUSTRIAL
Zone area
1,120.07 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.4M
OFFICE BUILDING
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$2.3M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
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
1966
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
100
Rooms
3
Bathrooms
3
Lot
4.09 ac
Current owner
From public records · entity-resolved
Salvation Army
Individual
Mailing address
PO BOX 270848, TAMPA, FL 33688-0848
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2002
$950,000
Salvation Army
Voyles Trust
Grant Deed
$745,000 · Voyles Trust
Jun 14, 2001
$735,400
Voyles Trust
Voyles INC
Grant Deed
related
—
May 5, 1998
$800,000
Voyles INC
Voyles Trust
Grant Deed
related
$792,000 · Seller
Jan 17, 1997
—
James W Voyles
Voyles Trust
Quit Claim Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 55 23rd Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
