Gainesville Office Investment
For Sale
$899,999
1103 NW 13th Street, Gainesville, FL 32601
Office investment property near University of Florida with good rental history.
Property Size5,881 SF
Lot Size0.77 Acres
Price / SF$139.71
Days on Market156
Property Features for 1103 NW 13th Street
General Information
Standard status
Active
Size
5,881 SF
Lot size
0.77 Acres
Property subtype
Office
Building Details
Building Size
5,881 SF
Year Built
1953
Listing Agency:
Coldwell Banker M.M. Parrish Realtors
(352) 665-9731
Listed By:
Perry Pursell · License #BK518980
(352) 665-9731
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Apr 5 at 8:41PM
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
Investment Insights
Based on property information with market context.
This office investment property is located 11 blocks north of the University of Florida. The property consists of two buildings. Building 1 has a total area of 3549 square feet and contains two units, along with 560 square feet of storage space. Building 2 has a total area of 2893 square feet and contains two units. The roofs of both buildings were replaced in 2017. The property has a good rental history and is situated on a 0.77-acre lot.
Key Highlights
- Investment property located near the University of Florida
- Two buildings totaling 6442 SF of rentable space
- Building 1 includes 560 SF of storage space
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
$80,358
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
8.93%
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%
$1,607,160
$1.6M
Cap Rate 7%
$1,147,971
$1.1M
Cap Rate 9%
$892,867
$892.9K
Market Conditions
NOI Build-Up for 6,442 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
$127.6K $19.80/SF
− Vacancy
−$20.4K −$3.17/SF
EGI
$107.1K $16.63/SF
− OpEx
−$26.8K −$4.16/SF
NOI
$80.4K $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%
$1,607,160
Cap Rate 7%
$1,147,971
Cap Rate 9%
$892,867
Alternative Uses
Best Use
Office B
$1.15M
$1.00M – $1.34M
NOI $80,358 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,689 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,904
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 - Office investment property near University of Florida with good rental history.
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 $899,999.
What are key features of this property?
This property features: Investment property located near the University of Florida; Two buildings totaling 6442 SF of rentable space; Building 1 includes **560 SF of storage space**
