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    Property profile & analytics

    600 23rd Ave Gainesville, FL 32609-3708

    • Retail space
    • 3,060 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    Mar 21, 2025
    $690,000
    Value Estimations
    $635,000
    Show details
    Cap Rate Potential
    5%
    Retail space
    Location Intelligence
    Property ID
    US18-4124989
    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

    • NAPA Auto Parts - Parts Professional Inc / Auto Parts Store / Trailer Supply Store

    Property Details for 600 23rd Ave

    Year built
    1972
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.42 lot acres
    Property size
    3,060 SF
    Zone code
    MU2
    Property type
    Retail space
    APN
    08240-000-000
    APU
    8240000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $645,000
      ML approach
      $590,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $540,000
      6.5%
      $500,000
      7%
      $465,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $645,000
      Market price range: $283k - $645k
      AI Estimate
      $512,000
      Market price range: $144k - $512k

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3188
    Latitude
    29.6742
    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
    $12,982
    $146,362
    $391,837
    $538,199
    -
    $146,362
    $391,837
    $538,199

    Comparable in this City

    • Value Estimation
      $465,000
      8,317 SF

      4222 13th St

      RETAIL STORES (PERSONAL SERVICES) • 8,317 SF
      4222 13th St, Gainesville, FL 32609-1805
      View Details
    • Value Estimation
      $225,000
      1,846 SF

      4113 13th St

      RETAIL STORES (PERSONAL SERVICES) • 1,846 SF
      4113 13th St, Gainesville, FL 32609-1808
      View Details
    • Value Estimation
      $260,000
      2,400 SF

      4421 6th St

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      4421 6th St, Gainesville, FL 32609-1745
      View Details
    • Value Estimation
      $830,000
      6,652 SF

      576 23rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,652 SF
      576 23rd Ave, Gainesville, FL 32609-3693
      View Details
    • Value Estimation
      $335,000
      3,976 SF

      1947 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,976 SF
      1947 Main St, Gainesville, FL 32609-3648
      View Details
    • Value Estimation
      $210,000
      3,651 SF

      2430 6th St

      RETAIL STORES (PERSONAL SERVICES) • 3,651 SF
      2430 6th St, Gainesville, FL 32609-2948
      View Details

    Similar Nearby for Sale

    • $499,000
      2,173 SF

      Gainesville Mixed-Use Retail/Office Building

      Retail/office building with two sections on 0.42 acres.
      1820 NE 2Nd St, Gainesville, FL 32609
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    • $1,300,000
      1,324 SF

      Gainesville Commercial Property For Sale

      Prime location near UF, Shands, and VA Hospital.
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    • $299,900
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      Mixed-Use Corner Lot Opportunity

      Mixed-use corner lot with high traffic and redevelopment potential.
      4016 NW 6Th St, Gainesville, FL 32609
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    • $625,000
      3,705 SF

      Gainesville Industrial Opportunity Zone Parcels

      Three contiguous parcels with office buildings and vacant industrial lot.
      2720 NE 20Th Way, Gainesville, FL 32609
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    • $1,600,000
      5.76 Acres

      Gainesville Mixed-Use Development Opportunity

      5.76 acres of mixed-use land with existing commercial building.
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    • $210,000
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      Gainesville Infill Development Opportunity

      Development site on 39th Avenue with high traffic volume.
      1202 NW 39Th Ave, Gainesville, FL 32609
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    Similar Nearby for Lease

    • Contact for pricing
      31,677 SF

      Expansive Retail Showroom on NW 23rd

      31,677 SF retail space with frontage on NW 23rd.
      2330 NW 13Th St, Gainesville, FL 32609
      View Details
    • $4,496 /Mo
      4,028 SF

      Gainesville Warehouse with Office/Retail Space

      4,028 SF warehouse with office/retail space on NW 6th Street.
      4111 NW 6Th St, Gainesville, FL 32609
      View Details
    • $11 SF/Yr
      3,450 SF

      Gainesville Retail Space For Lease

      End-cap retail space available at a busy Gainesville intersection.
      2311-2337 NW 13Th St, Gainesville, FL 32609
      View Details
    • $14 SF/Yr
      7,200 SF

      Versatile Commercial Space Available

      Adaptable commercial building suitable for retail, office, or warehouse use.
      4322 NW 13Th St, Gainesville, FL 32609
      View Details
    • Contact for pricing
      165,705 SF

      2649 13Th St

      Retail properties • 165,705 SF
      2649 13Th St, Gainesville, FL 32609
      View Details
    • Contact for pricing
      4,750 SF

      Gainesville Retail Space - 4750 SF

      Prime Gainesville location, 4750 sq ft retail space, two stories.
      120 23Rd Ave, Gainesville, FL 32609
      View Details
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    600 23rd Ave
    Gainesville, FL 32609-3708
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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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