Two-Building Office
For Sale
$850,000
1103 NW 13TH Street, Gainesville, FL 32601
Commercial Sale, GAINESVILLE, FL
Property Size5,881 SF
Lot Size0.77 Acres
Price / SF$144.53
Days on Market226
Property Features for 1103 NW 13TH Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
U4
Subdivision
SPRING PARK SUB
Directions
From Gainesville: Head toward NE 1st Ave 0.5 mi Turn left onto NW 8th Ave 0.7 mi Turn right onto NW 12th St 335 ft Turn left onto NW 9th Ave 0.1 mi Turn right onto NW 13th St From I 75: Take exit 382 from I-75 N 8 min (8.7 mi) Follow FL-331 N/SW Williston Rd to US-441 N/SW 13th St in Gainesville
Standard status
Active
APN
09500-000-000
Size
5,881 SF
Lot size
0.77 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ON FILE
Tax Annual Amount
10087
Legal Description
ON FILE
Utilities
Cooling system
Central Air
Building Details
Year built
1953
Floors in Building
1
Building materials
Concrete
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS · Coldwell Banker Real Estate
(352) 335-4999
Listed By:
Perry Pursell · License #BK518980
(352) 665-9731
Added: Jan 13
Changed: Aug 19
Last Checked: Aug 27 at 5:06PM
MLS# GC536549
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This office property comprises two separate buildings with four office units in total. Building 1 contains 3,549 square feet, two units, and 560 square feet of storage space. Building 2 provides 2,893 square feet across two additional units. Both buildings feature concrete construction and central air, with roofs replaced in 2017.
The property is located at 1103 NW 13TH Street in Gainesville, 11 blocks north of the University of Florida. It is identified as U4 zoning and was constructed in 1953. The multi-unit configuration and dedicated storage area provide a practical layout for office occupancy across the two-building site.
The property is located at 1103 NW 13TH Street in Gainesville, 11 blocks north of the University of Florida. It is identified as U4 zoning and was constructed in 1953. The multi-unit configuration and dedicated storage area provide a practical layout for office occupancy across the two-building site.
Key Highlights
- Two‑building office property with four units
- Building 1: 3,549 square feet, two units, and 560 square feet of storage
- Building 2: 2,893 square feet with two units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$73,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,467,200
$1.5M
Cap Rate 7%
$1,048,000
$1.0M
Cap Rate 9%
$815,111
$815.1K
Market Conditions
NOI Build-Up for 5,881 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$116.4K $19.80/SF
− Vacancy
−$18.6K −$3.17/SF
EGI
$97.8K $16.63/SF
− OpEx
−$24.5K −$4.16/SF
NOI
$73.4K $12.47/SF
Area
Gainesville, FL
Vacancy
16.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,467,200
Cap Rate 7%
$1,048,000
Cap Rate 9%
$815,111
Alternative Uses
Best Use
Office B
$1.05M
$917.0K – $1.22M
NOI $73,360 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,962 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 32601, FL
22,039
Population
11,204
Households
2
Avg Household Size
27
Median Age
62%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
4,791
Density / Sq Mi
$30,878
Median Household Income
$18,954
Median Earnings
$1,092
Median Rent
$284,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Concrete office asset with central air, multiple suites, and storage space near the University of Florida.
Where is this office building located?
The property is located at 1103 NW 13TH Street Gainesville, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑building office property with four units; Building 1: 3,549 square feet, two units, and 560 square feet of storage; Building 2: 2,893 square feet with two units
