Gainesville retail market report

Q1 2023

Gainesville’s retail market fundamentals remain strong as the vacancy rates outperform the national average. High demand has driven asking rates up significantly year-over-year. Investment sales during the first quarter of 2023 nearly doubled 2022’s first quarter volume.

-80 bps


Amid economic headwinds, the Gainesville retail market remains resilient with the vacancy rate holding strong at 3.4%, 80 basis points lower than the national average.

$17.41 psf

Asking rent rates

Asking rates for retail assets continued to climb throughout 2022 and have increased 16% year-over-year as of the first quarter of 2023.


Sales volume

Retail investment sales in Gainesville had the strongest performance on record during the first quarter of 2023, totaling $41.5 million in transaction volume, nearly doubling 2022’s first quarter volume.

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