Gainesville Office Investment
For Sale
$850,000
1103 NW 13th St, Gainesville, FL 32601
Office investment property located near the University of Florida.
Property Size5,881 SF
Price / SF$144.53
Days on Market186
Property Features for 1103 NW 13th St
General Information
Standard status
Active
Size
5,881 SF
Site & Location
Neighborhood
Oakview
Building Details
Year Built
1953
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS
Listed By:
Perry Pursell · License #0518980
(352) 665-9731
Source:
Chenoregroup
Added: Apr 24
Changed: Oct 26
Last Checked: Oct 7 at 2:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER M.M. PARRISH REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office investment property is situated 11 blocks north of the University of Florida. It comprises two buildings. Building 1 has a total area of 3549 square feet and includes two units along with 560 square feet of storage space. Building 2 contains two units and has a total area of 2893 square feet. The roofs of both buildings were replaced in 2017. The property has a good rental history. The location is considered very bikeable, with a bike score of 81, and somewhat walkable, with a walk score of 65.
Key Highlights
- Office investment property located near the University of Florida.
- Two buildings totaling 6442 SF (3549 SF + 2893 SF).
- Includes 560 SF of storage space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,360
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office investment property located near the University of Florida.
Where is this office building located?
The property is located at 1103 NW 13th St 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: Office investment property located near the University of Florida.; Two buildings totaling 6442 SF (3549 SF + 2893 SF).; Includes 560 SF of storage space.
