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    Property profile & analytics

    717 1st St Gainesville, FL 32601-5343

    • Retail space
    • 1,239 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2020
    $380,000
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    3.5%
    Retail space
    Location Intelligence
    Property ID
    US18-2874474
    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

    • Art Alley Studio / Pottery Classes
    • The Bay Gainesville / Event Venue
    • Paradise Park Cowork Space / Coworking Space

    Property Details for 717 1st St

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.23 lot acres
    Property size
    1,239 SF
    Zone code
    U8
    Property type
    Retail space
    APN
    14181-000-000
    APU
    14181000000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $370,000
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $470,000
      Market price range: $127k - $781k

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3256
    Latitude
    29.6586
    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
    $3,481
    $100,188
    $43,086
    $143,274
    -
    $100,188
    $43,086
    $143,274

    Comparable in this City

    • Value Estimation
      $265,000
      6,500 SF

      1122 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,500 SF
      1122 University Ave, Gainesville, FL 32601-5110
      View Details
    • Value Estimation
      $925,000
      662 SF

      607 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 662 SF
      607 University Ave, Gainesville, FL 32601-5155
      View Details
    • Value Estimation
      $370,000
      10,677 SF

      1011 University Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,677 SF
      1011 University Ave, Gainesville, FL 32601-5113
      View Details
    • Value Estimation
      $2,070,000
      3,040 SF

      1527 6th St

      RETAIL STORES (PERSONAL SERVICES) • 3,040 SF
      1527 6th St, Gainesville, FL 32601-4000
      View Details
    • Value Estimation
      $85,000
      1,566 SF

      1213 6th St

      RETAIL STORES (PERSONAL SERVICES) • 1,566 SF
      1213 6th St, Gainesville, FL 32601-4246
      View Details
    • Value Estimation
      $1,940,000
      9,702 SF

      113 8th Ave

      RETAIL STORES (PERSONAL SERVICES) • 9,702 SF
      113 8th Ave, Gainesville, FL 32601-2302
      View Details

    Similar Nearby for Sale

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      3,108 SF

      Retail Building Near New Supermarket

      Freestanding retail building with open floorplan and ample parking.
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      Commercial Property Assemblage For Sale

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      Cabana Themed Bar For Sale

      Operating bar business and lease for sale in Gainesville, FL.
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    • $1,500,000
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      Gainesville Retail Corner Lot Investment

      High-visibility, flexible-use retail space.
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    Similar Nearby for Lease

    • $34 SF/Yr
      1,548 SF

      Retail Space on University Avenue

      1,548 SF retail space in shell condition for rent.
      408 W University Ave, Gainesville, FL 32601
      View Details
    • $28 SF/Yr
      1,369 SF

      Prime Retail Location in Gainesville

      Excellent visibility on University Avenue, near UF campus.
      1226 W University Ave, Gainesville, FL 32601
      View Details
    • Contact for pricing
      2,297 SF

      Retail Space in Gainesville, FL

      2,297 SF retail space with dedicated entrance and signage.
      15 SW 1St Ave, Gainesville, FL 32601
      View Details
    • Contact for pricing
      1,203 SF

      Retail Space Near University Campus

      Retail space available near the University of Florida campus.
      1111 W University Ave, Gainesville, FL 32601
      View Details
    • $4,000 /Mo
      16,685 SF

      University Avenue Retail/Office/Night Club Space

      High-profile downtown Gainesville location ideal for retail, night club, or office.
      239 W University Ave, Gainesville, FL 32601
      View Details
    • $25 SF/Yr
      2,061 SF

      Prime Gainesville Retail/Office Space

      High-visibility commercial suite between UF and downtown Gainesville.
      491 W University Ave, Gainesville, FL 32601
      View Details
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    717 1st St
    Gainesville, FL 32601-5343
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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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