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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Office buildings
905 56th Ter Gainesville, FL 32605-6408
Individually Owned
5-yr Hold
Free & Clear
Property ID
US18-3195523
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,219 SF
Lot
0.5 ac (21,780 SF)
Zoning code
PD
APN
06354-010-011
UPID
US18-3195523
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ellett Insurance Insurance Agency
-
Gainesville Thermography Medical Clinic
-
The Preventive Medicine Center of Gainesville Medical Clinic
-
Erickson Robert A MD Physician
-
Blue Pamela Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$703k
Blend (final)
Blend
$575k
Owner & transaction history
Edward C Ellett · 5 yrs held
Edward C Ellett
since 2021
4 recorded transactions
Zoning & alternative use
PD · Gainesville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$910,000
+29.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gainesville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gainesville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$700,000
Current use
RETAIL STORES
$910,000
Change: +30% · Conversion: Moderate
MEDICAL BUILDING
$605,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$575k
Range $518k – $633k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$136 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$71,231
Tax year 2022
Assessed value
$530,300
Assessed 2023
Previous assessed
$530,300
+0.0% YoY
Effective rate
13.43%
On assessed value
Assessed land
$164,928
Assessed improvement
$365,372
Land market value
$164,928
Improvement market value
$365,372
Total market value
$530,300
Applied tax rate
400.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Units
100
Rooms
18
Bathrooms
15
Total area
4,219 SF
Lot
0.5 ac (21,780 SF)
Zoning code
PD
APN
06354-010-011
UPID
US18-3195523
Jurisdiction
ALACHUA
Zoning & alternative use
PD · Gainesville, FL
Zoning PD · permitted uses
PD · Gainesville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gainesville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$700,000
RETAIL STORES
Est. value
$910,000
MEDICAL BUILDING
Est. value
$605,000
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
100
Rooms
18
Bathrooms
15
Lot
0.5 ac
Current owner
From public records · entity-resolved
Edward C Ellett
Individual
Free & Clear · 5 yrs held
Mailing address
2901 SW 70TH LN, GAINESVILLE, FL 32608-5239
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2021
—
Edward C Ellett
Edward C Ellett
Intrafamily Transfer
related
—
Sep 19, 2005
—
Ellett Edward C Trust
Ellett,edward C & Marcia E
Quit Claim Deed
related
—
—
—
Ellett Edward C Trust 2005
—
Deed Of Trust
related
$344,281 · Campus USA Cu
—
—
Ellett Edward C & M E Trust 2005
—
Deed Of Trust
related
$440,000 · Campus USA Cu
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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