212 1St StGainesville, FL 32601

Property Details for 212 1St St

Year built

2022

Construction

STEEL FRAME

Lot size

0.06 AC

Property size (Sq ft)

89,603 SF

Zone code

DT

Property type

Hotels

Property subtype

Motels

APN

14562-002-000

APU

14562002000

Description

This exceptional Class A retail, restaurant, and office space, totaling 17,000 square feet, is located in the heart of downtown Gainesville, Florida, at 212 SE 1st St, 32601. Built in 2022, this ground-floor space is part of a brand-new mixed-use development, situated within the Hyatt Place Gainesville Hotel and Residences. Six spaces are currently available, ranging from 1,722 to 17,000 contiguous square feet, with a minimum divisible space of 1,750 square feet. The property benefits from its proximity to the University of Florida (less than a mile away), Shands Medical Complex, and numerous government buildings, including courthouses and City Hall. This high-traffic location offers excellent visibility and accessibility, serving both hotel guests and the surrounding community, including students, residents, and area businesses. The development also includes a 145-key Hyatt Place Hotel with meeting rooms and 39 loft-style studios. Across the street lies the Hippodrome State Theater, further enhancing the vibrant atmosphere. The property's strategic location near Gainesville's Innovation District, a hub of startups and employment, adds to its investment appeal. The University of Florida's significant student population and renowned athletic programs generate substantial foot traffic and consumer activity. This presents a rare opportunity to establish a presence in a thriving downtown Gainesville location with exceptional visibility and access to a diverse customer base.

• CAP approach

  CAP return

  Valuation

  6%

  $21,978,112

  6.5%

  $20,287,488

  7%

  $18,838,382

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,320,665

  Geo Method

  $14,320,665

• Alternative Use

  Use

  Valuation

  Residential

  $22,148,042

  Hospitality

  $20,287,488

  Educational

  $16,878,952

  Medical

  $17,459,444

  Retail

  $26,256,146

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.6499

Longitude

-82.3242

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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