5550 111Th BlvdGainesville, FL 32653

Property Details for 5550 111Th Blvd

Year built

2007

Construction

WOOD

Lot size

2.28 AC

Property size (Sq ft)

11,639 SF

Zone code

CI

Property type

Office properties

Property subtype

Office buildings

APN

05885-010-003

APU

5885010003

Description

This exceptional two-story brick office building, situated on a 2.28-acre lot in the Alachua Crossings complex, presents a unique investment opportunity. Located off US Highway 441 in Gainesville, Florida, this property boasts 11,639 square feet of space, offering flexibility for various uses including creative, medical, and traditional office settings. The building features a first floor with approximately 2,067 square feet of leasable/occupiable office space and a completely vacant 3,265 square feet on the second floor, both with access to shared common areas including a reception area, break room/kitchen, and a conference/training room. Convenient access to the second floor is provided by stairs at each end of the building and a centrally located lift. The property is zoned CI (Commercial Intensive) and benefits from ample parking, a private setting within a wooded area, and two ponds at the entrance. Its prime location offers easy access to downtown Alachua (6.7 miles), downtown Gainesville (9.4 miles), and the University of Florida (9.0 miles), placing it within the Gainesville-Alachua Tech Corridor. The tax parcel number is 05885-010-003. The asking price is $1,150,000, translating to $98.81 per square foot. This property is an ideal investment for those seeking a versatile and well-located office building in a desirable Gainesville location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,513,442

  6.5%

  $2,320,100

  7%

  $2,154,379

• Comparable approach

  Method

  Valuation

  Relative Method

  $791,568

  Geo Method

  $791,568

• Alternative Use

  Use

  Valuation

  Residential

  $2,876,924

  Hospitality

  $2,635,247

  Educational

  $2,192,495

  Medical

  $2,267,898

  Retail

  $3,410,548

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.7566

Longitude

-82.4054

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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