Turnkey Medical Office
For Sale
$670,000
Pending
1155 64th Terrace, Gainesville, FL 32605
All-brick medical office with turnkey furniture and dedicated exam and consultation rooms for clinical practices.
Property Size2,703 SF
Days on Market104
Property Features for 1155 64th Terrace
General Information
Standard status
Pending
Size
2,703 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$6,812
Amenities
Central Air
3
Building Details
Year Built
2003
Year Renovated
2020
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS
(352) 335-4999
Listed By:
Craig Carter · License #SL3346602
Source:
Xome
Added: May 16
Changed: Aug 25
Last Checked: Aug 26 at 5:35AM
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 all-brick medical office is offered turnkey and ready for immediate use. The building features a new roof installed in 2020 with a 30-year warranty. Inside, the suite includes a welcoming reception and entry area, six fully functional front office workstations, and a large 20' x 15' exam room designed for patient visits. There is also a spacious 12' x 20' executive consultation suite for private appointments, along with a staff break room and restrooms. Beautiful and functional furniture is included in the sale.
Located at 1155 NW 64th Ter in Gainesville, the property is positioned near HCA North Florida Regional Medical Center, supporting outpatient and provider-led healthcare services that benefit from close hospital access.
The layout supports a range of practice types, including primary care, specialty practices, procedural suites, concierge medicine, and outpatient clinical services. With dedicated reception, examination, and consultation space plus functional workstations and staff amenities, the facility is well suited for an experienced operator looking for an established, use-ready medical environment.
Located at 1155 NW 64th Ter in Gainesville, the property is positioned near HCA North Florida Regional Medical Center, supporting outpatient and provider-led healthcare services that benefit from close hospital access.
The layout supports a range of practice types, including primary care, specialty practices, procedural suites, concierge medicine, and outpatient clinical services. With dedicated reception, examination, and consultation space plus functional workstations and staff amenities, the facility is well suited for an experienced operator looking for an established, use-ready medical environment.
Key Highlights
- All‑brick medical office built in 2003
- New roof installed in 2020 with a 30‑year warranty
- Includes reception/entry area plus six fully functional front office workstations
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
$34,019
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
5.08%
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%
$680,380
$680.4K
Cap Rate 7%
$485,986
$486.0K
Cap Rate 9%
$377,989
$378.0K
Market Conditions
NOI Build-Up for 2,703 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
$61.6K $22.80/SF
− Vacancy
−$4.9K −$1.82/SF
EGI
$56.7K $20.98/SF
− OpEx
−$22.7K −$8.39/SF
NOI
$34.0K $12.59/SF
Area
Gainesville, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$680,380
Cap Rate 7%
$485,986
Cap Rate 9%
$377,989
Alternative Uses
Best Use
Healthcare Medical
$486.0K
$425.2K – $567.0K
NOI $34,019 @ 7.0% cap · market cap 5.08%
Second Best
Office B
$481.7K
$421.5K – $562.0K
NOI $33,717 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$669.5K
$585.8K – $781.1K
NOI $46,864 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,428
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32605, FL
24,326
Population
11,651
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
9.8 sq mi
ZIP Area
2,482
Density / Sq Mi
$83,114
Median Household Income
$48,741
Median Earnings
$1,505
Median Rent
$264,700
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?
Medical Office Space - All-brick medical office with turnkey furniture and dedicated exam and consultation rooms for clinical practices.
Where is this medical office space located?
The property is located at 1155 64th Terrace Gainesville, FL.
What is the asking price?
The asking price for this property is $670,000.
What are key features of this property?
This property features: All‑brick medical office built in 2003; New roof installed in 2020 with a 30‑year warranty; Includes reception/entry area plus six fully functional front office workstations
