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

    Gainesville, FL 32606

    • Parking lots & garages
    • 65.50 lot acres
    OFF-MARKET
    Last Sale
    Jun 29, 2023
    $6,160,000
    Value Estimations
    $6,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US19-0141035
    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

    • Parking lots & garages

    Property Details

    Lot size
    65.50 lot acres
    Zone code
    R-1A
    Property type
    Parking lots & garages
    APN
    04308-001-000
    APU
    4308001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,150,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.4779
    Latitude
    29.6665
    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
    $395
    $0.00
    $0.00
    $20,305
    -
    $20,305
    $962,195
    $982,500

    Comparable in this City

    • Value Estimation
      $6,000,000
      2.60 Acres

      Gainesville, FL 32606

      PARKING GARAGE, PARKING STRUCTURE • 2.60 Acres
      Gainesville, FL 32606
      View Details
    • Value Estimation
      $3,740,000
      69,906 SF

      4037 86th Ter

      PARKING GARAGE, PARKING STRUCTURE • 69,906 SF
      4037 86th Ter, Gainesville, FL 32606-9281
      View Details
    • Value Estimation by Request
      5.00 Acres

      Gainesville, FL 32606

      AUTO REPAIR, GARAGE • 5.00 Acres
      Gainesville, FL 32606
      View Details
    • Value Estimation by Request
      609 SF

      4830 43rd St

      SERVICE STATION (FULL SERVICE) • 609 SF
      4830 43rd St, Gainesville, FL 32606-4401
      View Details
    • Value Estimation by Request
      2,110 SF

      7531 Newberry Rd

      SERVICE STATION (FULL SERVICE) • 2,110 SF
      7531 Newberry Rd, Gainesville, FL 32606-6729
      View Details
    • Value Estimation by Request
      4,583 SF

      5032 39th Ave

      SERVICE STATION (FULL SERVICE) • 4,583 SF
      5032 39th Ave, Gainesville, FL 32606-5944
      View Details

    Similar Nearby for Sale

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      Renovated Retail/Office Space, Gainesville

      Professionally renovated 2,134 SF space ideal for retail/office.
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    • $1,000,000
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      Gainesville Commercial Land - 6.7 Acres

      Prime Gainesville development opportunity. 6.7 acres, excellent location.
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    • $280,000
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      Retail Space in Thornebrook Village

      Retail suite in walkable Thornebrook Village, immediate income opportunity.
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    • $425,000
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      Gainesville Infill Development Site

      Mixed-use development opportunity in Gainesville, sold for land value.
      3002 NW 43Rd St, Gainesville, FL 32606
      View Details
    • $300,000
      Pending

      Gainesville Multifamily Development Opportunity

      Shovel-ready lot for multifamily development in Gainesville, Florida.
      2804 NW 104Th Ct, Gainesville, FL 32606
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    • New
      $150,000
      Pending

      Gainesville Land Ready for Development

      Multifamily homes lot, shovel ready, preliminaries available, open builder.
      2730 NW 104Th Ct, Gainesville, FL 32606
      View Details

    Similar Nearby for Lease

    • $3,800 /Mo
      2,134 SF

      Thornebrook Village Retail/Office Space

      Professionally renovated retail or office space in Gainesville, Florida.
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    • Contact for pricing
      1,400 SF

      Retail Space in Gainesville MSA

      Retail space available in affluent Gainesville area near Publix.
      5200 NW 43Rd St, Gainesville, FL 32606
      View Details
    • $20 SF/Yr

      Thornebrook Village Retail/Office Space

      Flexible 3100± SF suite in established Gainesville retail destination.
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    • $22 SF/Yr

      5141 NW 43rd Street , Gainesville, FL 32606

      Shopping centers
      5141 NW 43Rd St, Gainesville, FL 32606
      View Details
    • $28 SF/Yr
      8,380 SF

      Retail Space in High-Traffic Area

      Retail space in a busy commercial corridor with flexible layout.
      4780 NW 39Th Ave, Gainesville, FL 32606
      View Details
    • $25 SF/Yr
      2,400 SF

      Hunter's Walk Retail Space Available

      Gainesville, FL retail space: 1,200-2,400 sq ft.
      5141 43Rd St, Gainesville, FL 32606
      View Details
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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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