Freestanding Medical Office
For Sale
$1,000,000
1179 NW 64th, Gainesville, FL 32605
Well-maintained freestanding medical office with two waiting areas, eight exam rooms, and multiple procedure and private rooms.
Property Size6,456 SF
Days on Market50
Property Features for 1179 NW 64th
General Information
Standard status
Active
Size
6,456 SF
Class
B
Property subtype
Office
Building Details
Building Size
6,456 SF
Year Built
2005
Listing Agency:
BOSSHARDT REALTY SERVICES LLC
(386) 566-1744
Listed By:
Tina Grossmann DePaz · License #3315291
Source:
Bosscommercial
Added: Jun 25
Changed: Aug 11
Last Checked: Aug 12 at 4:10AM
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 BOSSHARDT REALTY SERVICES LLC
Investment Insights
Based on property information with market context.
This well-maintained, freestanding medical office is laid out to support patient visits and clinical workflow, featuring two waiting areas, eight exam rooms, four procedure rooms, and four private offices. The configuration is designed to separate intake and exam spaces while providing dedicated rooms for procedures and private consultations.
The property is offered as an investment or owner-occupied opportunity, and it includes ample parking to support patient and staff access. Its freestanding nature provides an individual building setup rather than shared space.
For healthcare providers seeking an owner-occupied option, the room count and operational mix of waiting, exam, procedure, and private office space can align well with a variety of outpatient practices. For investors, the building’s established medical office layout can reduce upfront space planning and may support straightforward leasing to compatible medical users, depending on tenant requirements.
The property is offered as an investment or owner-occupied opportunity, and it includes ample parking to support patient and staff access. Its freestanding nature provides an individual building setup rather than shared space.
For healthcare providers seeking an owner-occupied option, the room count and operational mix of waiting, exam, procedure, and private office space can align well with a variety of outpatient practices. For investors, the building’s established medical office layout can reduce upfront space planning and may support straightforward leasing to compatible medical users, depending on tenant requirements.
Key Highlights
- Freestanding medical office built in 2005
- Includes two waiting areas for patient flow
- Eight exam rooms
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
$81,253
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
8.13%
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%
$1,625,060
$1.6M
Cap Rate 7%
$1,160,757
$1.2M
Cap Rate 9%
$902,811
$902.8K
Market Conditions
NOI Build-Up for 6,456 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
$147.2K $22.80/SF
− Vacancy
−$11.8K −$1.82/SF
EGI
$135.4K $20.98/SF
− OpEx
−$54.2K −$8.39/SF
NOI
$81.3K $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%
$1,625,060
Cap Rate 7%
$1,160,757
Cap Rate 9%
$902,811
Alternative Uses
Best Use
Healthcare Medical
$1.16M
$1.02M – $1.35M
NOI $81,253 @ 7.0% cap · market cap 8.13%
Second Best
Office B
$1.15M
$1.01M – $1.34M
NOI $80,532 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $111,932 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,686
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.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained freestanding medical office with two waiting areas, eight exam rooms, and multiple procedure and private rooms.
Where is this medical office space located?
The property is located at 1179 NW 64th Gainesville, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Freestanding medical office built in 2005; Includes two waiting areas for patient flow; Eight exam rooms
