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

    5700 SW 34Th St Gainesville, FL 32608

    • Office buildings
    • 16,625 SF
    • 14.68 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    $520,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3398597
    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

    • Florida Farm Bureau / Home Insurance Agency / Life Insurance Agency
    • Flood Insurance / Insurance Agency / Home Insurance Agency
    • Quality Certification Services / Certification Agency
    • Patrice Boyes PA / Attorney / Civil Law Attorney
    • Everest A/R Management Group, Inc. / Medical Billing Service

    Property Details for 5700 SW 34Th St

    Year built
    1981
    Construction
    CONCRETE
    Lot size
    14.68 lot acres
    Property size
    16,625 SF
    Zone code
    BH
    Property type
    Office buildings
    APN
    07142-001-000
    APU
    7142001000

    Description

    This exceptional commercial property, the Florida Farm Bureau Building, located at 5700 SW 34th St, Gainesville, FL 32608, offers a significant opportunity for businesses seeking flexible office space in Alachua County. Built in 1973, this Class C building boasts a total of 227,400 square feet, with a substantial 50,000 square feet currently available for lease. The building is categorized as both Traditional and Executive Office space, catering to a diverse range of tenants. The multiple tenancy structure allows for adaptability and scalability, accommodating businesses of various sizes. Currently, there is a large block of 50,000 square feet available, but the property can also be subdivided to meet specific needs, with options ranging from 1,200 square feet upwards. This presents a unique chance to secure a prominent location in Gainesville, within a well-established building. The property's ample square footage and flexible leasing options make it an ideal choice for companies seeking expansion or relocation in a thriving Florida market. Inquire today to explore the possibilities this substantial office space presents.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $520,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3669
    Latitude
    29.5973
    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
    $355,539
    $880,800
    $15,866,600
    $16,747,400
    -
    $880,800
    $15,866,600
    $16,747,400

    Comparable in this City

    • Value Estimation
      $640,000
      474 SF

      3813 34th St

      OFFICE BUILDING (MULTI-STORY) • 474 SF
      3813 34th St, Gainesville, FL 32608-1456
      View Details
    • Value Estimation
      $295,000
      16,620 SF

      5001 Celebration Pointe Ave, Unit 2

      OFFICE BUILDING • 16,620 SF
      5001 Celebration Pointe Ave, Gainesville, FL 32608-5080
      View Details
    • Value Estimation
      $1,215,000
      1,809 SF

      9144 49th Pl

      OFFICE BUILDING (MULTI-STORY) • 1,809 SF
      9144 49th Pl, Gainesville, FL 32608-8255
      View Details
    • Value Estimation
      $475,000
      2,400 SF

      5650 34th St

      OFFICE BUILDING (MULTI-STORY) • 2,400 SF
      5650 34th St, Gainesville, FL 32608-5331
      View Details
    • Value Estimation
      $170,000
      850 SF

      6120 13th St

      OFFICE BUILDING (MULTI-STORY) • 850 SF
      6120 13th St, Gainesville, FL 32608-5338
      View Details
    • Value Estimation
      $3,095,000
      2,720 SF

      1331 13th St

      OFFICE BUILDING (MULTI-STORY) • 2,720 SF
      1331 13th St, Gainesville, FL 32608-1101
      View Details

    Similar Nearby for Sale

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      Gainesville Office Investment Opportunity

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    Similar Nearby for Lease

    • $1,800 /Mo
      1,122 SF

      Gainesville Mixed-Use Space For Rent

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      View Details
    • $7,200 /Mo

      Haile Village Office/Retail Space

      All-inclusive office or retail space in Haile Village.
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    • $25 SF/Yr
      953 SF

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      Turn-key storefront or office space in Haile Village.
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    • New
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      Gainesville Office Space For Lease

      Office space for lease near US 441 in Gainesville.
      6505 SW 13Th St, Gainesville, FL 32608
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    • $27 SF/Yr
      4,016 SF

      Gainesville Office Space: 4016 sq ft

      Prime Gainesville office, 4016 sq ft, flexible layout.
      3833 37Th Blvd, Gainesville, FL 32608
      View Details
    • $16 SF/Yr
      50,000 SF

      Gainesville Office Space For Rent

      Office spaces available from 1,200 SF up to 50,000 SF.
      5700 SW 34Th St, Gainesville, FL 32608
      View Details
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    Gainesville, FL 32608
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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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