All-Brick Medical
For Sale
$670,000
Pending
1155 NW 64TH Terrace, Gainesville, FL 32605
Commercial Sale, GAINESVILLE, FL
Property Size2,446 SF
Lot Size0.12 Acres
Days on Market99
Property Features for 1155 NW 64TH Terrace
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MD
Directions
From the intersection of Newberry Road and NW 8th Avenue, go west on Newberry Road 0.6 miles. Turn right on NW 10th Place, then right on NW 64th Terr.
Subdivision
32605 - Gainesville
Standard status
Pending
APN
06340-014-000
Size
2,446 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM SW COR LOT 48 WEST HILLS PB E-11 N 00 DEG 14 MIN 09 SEC E 1507.20 FT N 87 DEG 09 MIN 14 SEC W 100.10 FT CONT N 87 DEG 09 MIN 14 SEC W 399.81 FT N 00 DEG 14 MIN 09 SEC E 130.79 FT S 85 DEG 01 MIN 54 SEC W 19.19 FT POB S 00 DEG 14 MIN 09 SEC W 44.0 8 FT S 89 DEG 45 MIN 51 SEC E 5 FT S 00 DEG 14 MIN 09 SEC W 29.78 FT S 85 DEG 01 MIN 54 SEC W 65.63 FT N 04 DEG 58 MIN 06 SEC W 17.01 FT S 85 DEG 01 MIN 54 SEC W .50 FT N 04 DEG 58 MIN 06 SEC W 62.50 FT N 85 DEG 01 MIN 54 SEC E 68.36 FT S 00 DEG 14 M IN 09 SEC W 5.52 FT POB OR 2427/1426
Tax Annual Amount
6812
Legal Description
COM SW COR LOT 48 WEST HILLS PB E-11 N 00 DEG 14 MIN 09 SEC E 1507.20 FT N 87 DEG 09 MIN 14 SEC W 100.10 FT CONT N 87 DEG 09 MIN 14 SEC W 399.81 FT N 00 DEG 14 MIN 09 SEC E 130.79 FT S 85 DEG 01 MIN 54 SEC W 19.19 FT POB S 00 DEG 14 MIN 09 SEC W 44.0 8 FT S 89 DEG 45 MIN 51 SEC E 5 FT S 00 DEG 14 MIN 09 SEC W 29.78 FT S 85 DEG 01 MIN 54 SEC W 65.63 FT N 04 DEG 58 MIN 06 SEC W 17.01 FT S 85 DEG 01 MIN 54 SEC W .50 FT N 04 DEG 58 MIN 06 SEC W 62.50 FT N 85 DEG 01 MIN 54 SEC E 68.36 FT S 00 DEG 14 M IN 09 SEC W 5.52 FT POB OR 2427/1426
Utilities
Cooling system
Central Air
Building Details
Year built
2003
Building materials
Brick
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS · Coldwell Banker Real Estate
(352) 335-4999
Listed By:
Craig Carter · License #SL3346602
(352) 339-4038
Added: May 21
Changed: Aug 24
Last Checked: Aug 27 at 3:06PM
MLS# GC540366
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 2,446-square-foot medical office in Gainesville is arranged for clinical and administrative operations, with a reception and entry area, six front-office workstations, a 20' x 15' exam room, and a 12' x 20' executive consultation suite. The layout also includes a staff break room and restrooms. Furniture is included with the sale, providing a ready-equipped setting for a medical practice or outpatient clinical use.
Constructed in 2003, the building has all-brick construction and central air. A roof replacement completed in 2020 is covered by a 30-year warranty. The property is located near HCA North Florida Regional Medical Center and carries MD zoning.
Constructed in 2003, the building has all-brick construction and central air. A roof replacement completed in 2020 is covered by a 30-year warranty. The property is located near HCA North Florida Regional Medical Center and carries MD zoning.
Key Highlights
- 2,446‑square‑foot medical office
- All‑brick construction completed in 2003
- New roof installed in 2020 with a 30‑year warranty
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
$30,784
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
4.59%
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%
$615,680
$615.7K
Cap Rate 7%
$439,771
$439.8K
Cap Rate 9%
$342,044
$342.0K
Market Conditions
NOI Build-Up for 2,446 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
$55.8K $22.80/SF
− Vacancy
−$4.5K −$1.82/SF
EGI
$51.3K $20.98/SF
− OpEx
−$20.5K −$8.39/SF
NOI
$30.8K $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%
$615,680
Cap Rate 7%
$439,771
Cap Rate 9%
$342,044
Alternative Uses
Best Use
Healthcare Medical
$439.8K
$384.8K – $513.1K
NOI $30,784 @ 7.0% cap · market cap 4.59%
Second Best
Office B
$435.9K
$381.4K – $508.5K
NOI $30,511 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$605.8K
$530.1K – $706.8K
NOI $42,408 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured clinical suite near HCA North Florida Regional Medical Center with furnished work areas and patient-facing rooms.
Where is this medical office space located?
The property is located at 1155 NW 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: 2,446‑square‑foot medical office; All‑brick construction completed in 2003; New roof installed in 2020 with a 30‑year warranty
