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    Property profile & analytics

    618 NW 60Th St Gainesville, FL 32607

    • Turn key restaurants
    • 3,026 SF
    • 2.27 lot acres
    For Sale
    View listing
    $5,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4849345
    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

    • 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

    Property Details for 618 NW 60Th St

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.27 lot acres
    Property size
    3,026 SF
    Zone code
    BUS
    Property type
    Turn key restaurants
    APN
    06655-002-009
    APU
    6655002009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $654,000
      Market price range: $251k - $654k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $845,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.407
    Latitude
    29.6583
    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
    $65,033
    $1,316,100
    $1,672,200
    $2,988,300
    -
    $1,316,100
    $1,672,200
    $2,988,300

    Comparable in this City

    • Value Estimation by Request
      5,600 SF

      526 60th St

      RESTAURANT • 5,600 SF
      526 60th St, Gainesville, FL 32607-6055
      View Details
    • Value Estimation by Request
      6,612 SF

      3700 University Ave

      RESTAURANT • 6,612 SF
      3700 University Ave, Gainesville, FL 32607-2458
      View Details
    • Value Estimation by Request
      5,599 SF

      606 75th St

      RESTAURANT • 5,599 SF
      606 75th St, Gainesville, FL 32607-1800
      View Details
    • Value Estimation by Request
      3,764 SF

      3403 University Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,764 SF
      3403 University Ave, Gainesville, FL 32607-2402
      View Details
    • Value Estimation by Request
      2,508 SF

      7118 University Ave

      NIGHTCLUB (COCKTAIL LOUNGE) • 2,508 SF
      7118 University Ave, Gainesville, FL 32607-1610
      View Details
    • Value Estimation by Request
      800 SF

      3325 University Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 800 SF
      3325 University Ave, Gainesville, FL 32607-2539
      View Details

    Similar Nearby for Sale

    • New
      $1,700,000
      Pending

      Gainesville Restaurant with Hibachi Stations

      Freestanding, fully equipped restaurant near Newberry Road and I-75.
      526 NW 60Th St, Gainesville, FL 32607
      View Details
    • New
      $5,400,000
      23,674 SF

      Gainesville Retail Investment Opportunity

      Fully leased shopping center in a high-demand commercial corridor.
      618 NW 60Th St, Gainesville, FL 32607
      View Details
    • $23,800,000

      Gainesville Strip Center For Sale

      Fully leased retail plaza with immediate income and expansion potential.
      7229 NW 4Th Blvd, Gainesville, FL 32607
      View Details
    • Contact for pricing
      5,520 SF

      Retail Strip Center Investment Opportunity

      Retail strip center on Newberry Road with value-add potential.
      4000 Newberry Rd, Gainesville, FL 32607
      View Details
    • $3,750,000
      390,733 SF

      Gainesville Mixed-Use Development

      8.97 acres, 800 units possible, high density.
      4510 24Th Ave, Gainesville, FL 32607
      View Details
    • $23,800,000
      79,678 SF

      Gainesville Shopping Plaza Investment Opportunity

      Three-building shopping plaza with stable tenancy and development potential.
      7229 NW 4Th Blvd, Gainesville, FL 32607
      View Details

    Similar Nearby for Lease

    • New
      $15 SF/Yr
      2,102 SF

      Retail Space Near UF

      Retail and office spaces near Downtown and UF. Available for lease.
      3501 SW 2Nd Ave, Gainesville, FL 32607
      View Details
    • Contact for pricing
      54,801 SF

      Redevelopment Opportunity Near University of Florida

      55,000 SF building on 9 acres near University of Florida.
      3702 SW 2Nd Pl, Gainesville, FL 32607
      View Details
    • $17 SF/Yr
      5,000 SF

      Retail Space on W University

      5,000 SF retail space with high visibility.
      3441 W University Ave, Gainesville, FL 32607
      View Details
    • $18 SF/Yr
      800 SF

      Retail Space Available For Rent

      Retail space available for lease in Gainesville, Florida.
      6001 Southwest 75Th Ter, Gainesville, FL 32607
      View Details
    • $28 SF/Yr

      Gainesville Retail Space Available 2026

      Retail space in high-traffic Gainesville corridor, available January 2026.
      2108 Southwest 34Th Street Ext, Gainesville, FL 32607
      View Details
    • $18 SF/Yr

      Retail Spaces in Colonial Square

      Retail spaces for lease with high visibility and ample parking.
      3739 West University Ave, Gainesville, FL 32607
      View Details
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    618 NW 60Th St
    Gainesville, FL 32607
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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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