501 23Rd AveGainesville, FL 32609

Property Details for 501 23Rd Ave

Year built

1978

Construction

STEEL FRAME

Lot size

0.38 AC

Property size (Sq ft)

2,620 SF

Zone code

BUS

Property type

Retail space

APN

10072-001-006

APU

10072001006

Description

This exceptional 2,720 square foot retail or restaurant space, located in Alachua County's Azalea Center, presents a fantastic opportunity for a discerning business owner. Built in 1980, this single-tenant property boasts a highly desirable location on a busy 23rd street, enjoying exceptional visibility and high traffic counts. Its adjacency to a bustling Wards supermarket ensures consistent foot traffic and customer exposure. The space is ideally suited for a variety of uses, having previously served as a BBQ restaurant. Features include two ADA-compliant bathrooms, a full bathroom in the office area, a wired security system, a hot water heater, a small sink, a fully equipped kitchen with a hood and fire suppression system, and a grease trap. Ample storage rooms are available, along with both front and back seating areas, a bar, a designated money receiving area, and several booths. The abundance of natural light enhances the inviting atmosphere. The property also offers two exterior sign locations – one on the main road sign and another above the unit's entrance. Extensive parking is provided, including designated handicap-accessible spaces. This modified lease offers a competitive rate of $13 per square foot, with built-in annual increases. The property is ready for immediate occupancy, allowing you to begin renovations and establish your business without delay. Don't miss this chance to secure a prime location in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $831,710

  6.5%

  $767,732

  7%

  $712,894

• Comparable approach

  Method

  Valuation

  Relative Method

  $449,029

  Geo Method

  $449,029

• Alternative Use

  Use

  Valuation

  Residential

  $647,611

  Hospitality

  $593,208

  Educational

  $493,542

  Medical

  $510,516

  Retail

  $767,732

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.6735

Longitude

-82.3202

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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