3117 34Th StGainesville, FL 32608

Property Details for 3117 34Th St

Year built

2005

Construction

WOOD

Lot size

0.76 AC

Property size (Sq ft)

3,600 SF

Zone code

PD

Property type

Retail properties

Property subtype

Turn key restaurants

APN

06780-004-000

APU

6780004000

Description

This exceptional retail investment opportunity is located within University Towne Center, a thriving multi-tenant shopping center in Gainesville, Florida. The property, encompassing 5,000 square feet across two units (Unit #1: 2,489 sq ft, Unit #2: 1,111 sq ft), sits on a 0.76-acre lot at the highly visible southeast corner of SW 34th Street and Archer Road, Gainesville's busiest retail thoroughfare. Its prime location offers unparalleled access to a substantial customer base, boasting an average daily traffic count of 27,374 vehicles on SW 34th Street. The property benefits from its proximity to I-75 (just over a mile away), Shands Hospital, the University of Florida, and numerous residential units. The center enjoys strong shadow-anchoring by Enson Market and YouFit, and is complemented by a diverse range of co-tenants including Carrabba's Italian Grill, DaVinci's, Taste Pho & Noodle House, Tropical Smoothie Cafe, and Sahao Cafe. Significant recent improvements include a new roof (2022) and new air conditioning (2023). The property includes 45 deeded parking spaces, with immediate parking at the building entrance and adjacent overflow parking. Prominent on-building and monument signage on SW 34th Street ensures high visibility for tenants. This is a rare opportunity to acquire a well-maintained, high-performing retail property in a dynamic and densely populated area. The asking price is $2,188,800.

• CAP approach

  CAP return

  Valuation

  6%

  $1,142,807

  6.5%

  $1,054,899

  7%

  $979,549

• Comparable approach

  Method

  Valuation

  Relative Method

  $616,987

  Geo Method

  $616,987

• Alternative Use

  Use

  Valuation

  Residential

  $889,847

  Hospitality

  $815,095

  Educational

  $678,149

  Medical

  $701,472

  Retail

  $1,054,899

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.625

Longitude

-82.3712

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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