Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    7120 24th Ave Gainesville, FL 32607-3705

    • Office buildings
    • 3,058 SF
    • 5.00 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3875108
    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

    • KISS 105.3 / Radio Broadcaster

    Property Details for 7120 24th Ave

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    5.00 lot acres
    Property size
    3,058 SF
    Zone code
    A
    Property type
    Office buildings
    APN
    06678-001-000
    APU
    6678001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $404,000
      Market price range: $174k - $576k

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.4189
    Latitude
    29.6317
    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
    $7,552
    $217,800
    $141,400
    $359,200
    -
    $217,800
    $141,400
    $359,200

    Comparable in this City

    • Value Estimation
      $535,000
      20,357 SF

      5931 1st Pl

      OFFICE BUILDING (MULTI-STORY) • 20,357 SF
      5931 1st Pl, Gainesville, FL 32607-2063
      View Details
    • Value Estimation
      $3,700,000
      14,958 SF

      1479 74th Dr

      OFFICE BUILDING • 14,958 SF
      1479 74th Dr, Gainesville, FL 32607-0002
      View Details
    • Value Estimation
      $980,000
      7,508 SF

      100 75th St

      OFFICE BUILDING (MULTI-STORY) • 7,508 SF
      100 75th St, Gainesville, FL 32607-5779
      View Details
    • Value Estimation
      $305,000
      6,884 SF

      100 75th St

      OFFICE BUILDING (MULTI-STORY) • 6,884 SF
      100 75th St, Gainesville, FL 32607-5779
      View Details
    • Value Estimation
      $315,000
      8,150 SF

      2025 75th St

      OFFICE BUILDING (MULTI-STORY) • 8,150 SF
      2025 75th St, Gainesville, FL 32607-3453
      View Details
    • Value Estimation
      $245,000
      2,000 SF

      17 33rd Ct

      OFFICE BUILDING (MULTI-STORY) • 2,000 SF
      17 33rd Ct, Gainesville, FL 32607-2552
      View Details

    Similar Nearby for Sale

    • $7,750,000
      35,821 SF

      Gainesville Office Building with Gym

      Office building featuring a gym, multipurpose rooms, and solar array.
      6901 SW 24Th Ave, Gainesville, FL 32607
      View Details
    • New
      $375,000
      2,000 SF

      Professional Office Building For Sale

      Attractive office building near University of Florida, move-in ready.
      17 NW 33Rd Ct, Gainesville, FL 32607
      View Details
    • $5,500,000
      28,775 SF

      Adaptable Office Building with Amenities

      Spacious office building featuring flexible layout, modern amenities, and security.
      7600 NW 5Th Pl, Gainesville, FL 32607
      View Details
    • $7,750,000
      35,821 SF

      Gainesville Office Building - $7.75M

      Prime Gainesville office space, 35,821 SF.
      6901 24Th Ave, Gainesville, FL 32607
      View Details
    • $229,000
      1,510 SF

      Gainesville Office Space - Great Location!

      Updated 1,510 sq ft Office, Prime Gainesville Location
      4010 Newberry Rd, Gainesville, FL 32607
      View Details
    • New
      $399,000
      1,873 SF

      Gainesville Medical Office Opportunity

      Established Gainesville office condo with convenient access and functional layout.
      230 NW 76Th Dr, Gainesville, FL 32607
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      2,176 SF

      Stand-Alone Modular Office For Rent

      2,176 SF office with private parking and full kitchen.
      5902 NW 1St Pl, Gainesville, FL 32607
      View Details
    • $19 SF/Yr
      10,584 SF

      Gainesville Executive Office Suite

      2,500 SF Office Space Available
      4960 Newberry Rd, Gainesville, FL 32607
      View Details
    • $13 SF/Yr
      540 SF

      Office Space in Creekside Plaza

      Second floor office space available for rent in Gainesville, FL.
      3501 SW 2Nd Ave, Gainesville, FL 32607
      View Details
    • $17 SF/Yr
      1,500 SF

      Gainesville Office Suite For Rent

      Office suite in desirable business park, convenient location.
      4001 Newberry Rd, Gainesville, FL 32607
      View Details
    • $25 SF/Yr
      61,528 SF

      Gainesville Executive Office Space

      Class A Office Suites, Gainesville, FL
      5950 1St Pl, Gainesville, FL 32607
      View Details
    • $10,200 /Mo

      Executive Offices in Markets West

      Class A building with collaborative workspace and included amenities.
      1449 SW 74Th Dr, Gainesville, FL 32607
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7120 24th Ave
    Gainesville, FL 32607-3705
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.