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Property summary
Tower Center Shopping Plaza is a 28.45-acre commercial retail property located just off Tower Road in Gainesville, Florida. The site includes three buildings totaling 79,678 square feet of retail space: Building A is a 66,803-square-foot strip center with 15 tenant spaces; Building B was constructed in 2020 and comprises 6,300 square feet with space arranged for three tenants and includes full showroom windows and convenient parking; and Building C was delivered in 2022 and provides 7,000 square feet occupied by three tenants. The plaza has direct frontage on Tower Road, a major north-south corridor, and includes monument and on-building signage. Vehicular access is provided via a signalized intersection to support ingress and egress, and the property includes ample parking with over 400 spaces serving Buildings A and B plus an additional 47 dedicated spaces for Building C. The site is positioned for access to I-75 and includes an outparcel established for future development of a 30,000-square-foot building.
Property profile
VerifiedCap rate & NOI
Current use
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Home Appliance Store Hardware & Home Improvement
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Building Supply Hardware & Home Improvement
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Waste Management Facility
Location
Value estimations
Owner & transaction history
Zoning & alternative use
vation MH Mobile Home RMF-5 Single/Multi-Family RMF-6 to 8 Multi-Family Mixed-Use and Nonresidential MU-1 Mixed-Use Low-Intensity MU-2 Mixed-Use Medium-Intensity OR Office Residential OF General Office CP Corporate Park…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Derived from the Gainesville market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
BUS · Gainesville, FLvation MH Mobile Home RMF-5 Single/Multi-Family RMF-6 to 8 Multi-Family Mixed-Use and Nonresidential MU-1 Mixed-Use Low-Intensity MU-2 Mixed-Use Medium-Intensity OR Office Residential OF General Office CP Corporate Park…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
vation MH Mobile Home RMF-5 Single/Multi-Family RMF-6 to 8 Multi-Family Mixed-Use and Nonresidential MU-1 Mixed-Use Low-Intensity MU-2 Mixed-Use Medium-Intensity OR Office Residential OF General Office CP Corporate Park…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for BUS in Gainesville, FL.
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