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Property profile & analytics
FOR SALE
Turn key restaurants
618 NW 60Th St Gainesville, FL 32607
Entity Owned
13-yr Hold
Free & Clear
Property ID
US18-4849345
For Sale
1 / 44
$4,900,000
618 NW 60Th St, Gainesville, FL 32607
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,026 SF
Lot
2.27 ac (98,881 SF)
Zoning code
BUS
APN
06655-002-009
UPID
US18-4849345
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
-
Gatorbrite Teeth Whitening Dental Office
-
McAlister's Deli Take-out & Catering
-
The Honey Baked Ham Company Take-out & Catering Catering Service
-
The Abbey at Blackadder Hotel & Motel Resort
-
Waffle America LLC Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$385k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$654k
Blend (final)
Blend
$520k
Owner & transaction history
Illuminations I INC · 13 yrs held
Illuminations I INC
since 2012
5 recorded transactions
Zoning & alternative use
BUS · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$845,000
Current use
Blend value · Realmo final
$520k
Range $468k – $572k · ±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
$172 / 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
$65,033
Tax year 2023
Assessed value
$2,988,300
Assessed 2023
Previous assessed
$2,971,400
+0.6% YoY
Effective rate
2.18%
On assessed value
Assessed land
$1,316,100
Assessed improvement
$1,672,200
Land market value
$1,316,100
Improvement market value
$1,672,200
Total market value
$2,988,300
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
5
Stories
1
Units
100
Rooms
4
Bathrooms
51
Total area
3,026 SF
Lot
2.27 ac (98,881 SF)
Zoning code
BUS
APN
06655-002-009
UPID
US18-4849345
Jurisdiction
ALACHUA
Zoning & alternative use
BUS · Gainesville, FL
Zoning BUS · permitted uses
BUS · Gainesville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gainesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$845,000
RESTAURANT Current
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
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
5
Units
100
Rooms
4
Bathrooms
51
Lot
2.27 ac
Current owner
From public records · entity-resolved
Illuminations I INC
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 1263, NEWBERRY, FL 32669-1263
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2020
—
Illuminations I INC
—
Deed
related
$12,359 · Florida Cu
Dec 26, 2012
—
Illuminations I INC
Adventure Ventures Of North Flori
Grant Deed
related
—
—
—
Illuminations I INC
—
Deed Of Trust
related
$2,400,000 · Florida Cu
—
—
Illuminations 1 INC
—
Deed Of Trust
related
$1,700,000 · Florida Cap Bk
—
—
Illuminations I INC
—
Loan Modification
related
$12,359 · Florida Cu
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?”
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