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    618 NW 60Th St Gainesville, FL 32607
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    Property profile & analytics

    618 NW 60Th St, Gainesville, FL 32607

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    • Turn key restaurants
    • 3,026 SF
    • 2.27 lot acres
    For Sale
    $4,900,000
    View Listing →
    Gainesville Retail Investment Opportunity For Sale
    $4,900,000
    23,674 SF

    Gainesville Retail Investment Opportunity

    Fully leased shopping center in a desirable Gainesville location.

    618 NW 60TH STREET, Gainesville, FL 32607
    View Listing
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    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
    Zone code
    BUS
    Property type
    Turn key restaurants
    APN
    06655-002-009
    APU
    6655002009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 30, 2020 — Illuminations I INC — Deed · related $12k · Florida Cu
    Dec 26, 2012 — Illuminations I INC Adventure Ventures Of North Flori Grant Deed · related —
    — — Illuminations I INC — Deed Of Trust · related $2.4M · Florida Cu
    — — Illuminations 1 INC — Deed Of Trust · related $1.7M · Florida Cap Bk
    — — Illuminations I INC — Loan Modification · related $12k · Florida Cu

    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 estimation — 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
      526 60th St, Gainesville, FL 32607-6055
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      5,599 SF

      606 75th St

      RESTAURANT
      606 75th St, Gainesville, FL 32607-1800
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      6,612 SF

      3700 University Ave

      RESTAURANT
      3700 University Ave, Gainesville, FL 32607-2458
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    • Value Estimation by Request
      2,508 SF

      7118 University Ave

      NIGHTCLUB (COCKTAIL LOUNGE)
      7118 University Ave, Gainesville, FL 32607-1610
      View Details
    • Value Estimation by Request
      3,764 SF

      3403 University Ave

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

      3325 University Ave

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

    Similar Nearby for Sale

    • Contact for pricing

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      Pad-ready site suitable for retail, hospitality, or office use.
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      6,850 SF

      Gainesville Landmark Restaurant Opportunity

      Established restaurant with hibachi stations, bar, and commercial kitchen.
      526 NW 60Th St, Gainesville, FL 32607
      View Details
    • $1,700,000
      6,850 SF

      Gainesville Restaurant Opportunity

      Freestanding restaurant near Newberry Road and I-75 in Gainesville.
      526 NW 60Th St, Gainesville, FL 32607
      View Details
    • $799,000
      2.25 Acres

      Gainesville Mixed-Use Development Opportunity

      Prime land parcel near UF, ideal for diverse development.
      560 NW 39Th Rd, 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
    • $4,900,000
      23,674 SF

      Gainesville Retail Investment Opportunity

      Fully leased shopping center in a desirable Gainesville location.
      618 NW 60Th St, Gainesville, FL 32607
      View Details

    Similar Nearby for Lease

    • $8,046 /Mo

      Second-Story Office Suite with Elevator

      Second-story suite in Creekside Mall with a large open area, office, storage, and elevator access; electricity included.
      3501 SW 2Nd Ave, Gainesville, FL 32607
      View Details
    • $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
    • $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
    • $11,376 /Mo
      711 SF

      Retail Space For Rent

      Retail space available for lease in Gainesville, Florida.
      3434 SW 24Th Ave, Gainesville, FL 32607
      View Details
    • New
      $23,840
      1,600 SF

      Retail Storefront Space

      Retail storefront space available for lease in Gainesville, Florida’s Alachua County.
      3501 SW 2Nd Ave, Gainesville, FL 32607
      View Details
    • Contact for pricing
      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
    View Listing
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    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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    618 NW 60Th St, Gainesville, FL, 32607
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