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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    808 University Ave Gainesville, FL 32601-5115

    • Turn key restaurants
    • 1,420 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5621336
    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

    • GRILL EXPRESS / Middle Eastern Restaurant

    Property Details for 808 University Ave

    Year built
    1958
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.06 lot acres
    Property size
    1,420 SF
    Zone code
    U9
    Property type
    Turn key restaurants
    APN
    13689-001-000
    APU
    13689001000

    Description

    This exceptional 1,420-square-foot restaurant space presents a unique opportunity in Gainesville, Florida. Located at 808 W University Ave, this single-tenant property boasts a prime location within walking distance of the University of Florida and its extensive student housing, ensuring a high volume of potential customers. The property sits on a 0.06-acre lot and includes ample parking with 20 spaces. The building is zoned U9, and the APN is 13689-001-000. This turnkey restaurant is ready for immediate occupancy, eliminating the need for extensive renovations. The property's convenient location, combined with its readily available space, makes it an ideal investment for established restaurant operators or aspiring entrepreneurs seeking a thriving business environment. The property's size and layout are well-suited for a variety of restaurant concepts, offering flexibility for customization. With its proximity to a large student population and high foot traffic, this restaurant space offers significant potential for success. The property is available for lease or sale. Interested parties should inquire for further details regarding lease terms and sale price. The cross street is University Ave, and the property is situated in the 32601 zip code.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $210,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $264,000
      Market price range: $264k - $640k
      AI Estimate
      $135,000
      Market price range: $130k - $384k

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3332
    Latitude
    29.6524
    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
    $3,276
    $91,476
    $45,202
    $136,678
    -
    $91,476
    $45,202
    $136,678

    Comparable in this City

    • Value Estimation
      $315,000
      1,193 SF

      1005 University Ave

      RESTAURANT • 1,193 SF
      1005 University Ave, Gainesville, FL 32601-5113
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    • Value Estimation
      $230,000
      434 SF

      507 5th Ave

      RESTAURANT • 434 SF
      507 5th Ave, Gainesville, FL 32601-3218
      View Details
    • Value Estimation
      $1,185,000
      6,000 SF

      109 Main St

      RESTAURANT • 6,000 SF
      109 Main St, Gainesville, FL 32601-6214
      View Details
    • Value Estimation
      $330,000
      3,132 SF

      1245 University Ave

      RESTAURANT • 3,132 SF
      1245 University Ave, Gainesville, FL 32601-5109
      View Details
    • Value Estimation
      $275,000
      4,620 SF

      12 1st Ave

      RESTAURANT • 4,620 SF
      12 1st Ave, Gainesville, FL 32601-6244
      View Details
    • Value Estimation
      $395,000
      2,805 SF

      203 2nd Ave

      RESTAURANT • 2,805 SF
      203 2nd Ave, Gainesville, FL 32601-6227
      View Details

    Similar Nearby for Sale

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      Gainesville Mixed-Use Development Opportunity

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    Similar Nearby for Lease

    • $2,500 /Mo
      224 SF

      Turnkey Restaurant Opportunity in Gainesville

      Fully equipped, stationary 'food truck' style kitchen for lease.
      931 SW 2Nd Ave, Gainesville, FL 32601
      View Details
    • $4,800 /Mo
      1,100 SF

      Turn-Key Restaurant Space Available

      Fully equipped restaurant space in downtown Gainesville's vibrant scene.
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      View Details
    • $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
    • Contact for pricing
      10,160 SF

      Free-Standing Building with Drive-Thru

      10,160 SF building with drive-thru on 1.24 acres.
      901 N Main St, 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
    • $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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    Gainesville, FL 32601-5115
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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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