Freestanding Office Building in Turkey
For Sale
Contact for pricing
11820 Turkey Creek Blvd, Alachua, FL 32615
Visible, functional office building with golf course views in Alachua.
Property Size3,293 SF
Price / SF$170.06
Days on Market190
Property Features for 11820 Turkey Creek Blvd
General Information
Standard status
Active
Size
3,293 SF
Class
B
Property subtype
Office
Zoning
PUD
Building Details
Buildings
1
Listing Agency:
Lee & Associates Gainesville
Listed By:
Dan Drotos · License #FL 3255693
Source:
Crexi
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 13 at 4:38AM
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 Lee & Associates Gainesville
Investment Insights
Based on property information with market context.
Located just inside the entrance of Turkey Creek in Alachua, Florida, this freestanding office building offers visibility, functionality, and natural surroundings. Monument signage at the entry provides branding opportunities, while the rear of the building overlooks the Turkey Creek golf course. The building features floor-to-ceiling windows and stained glass accents at the front entry. The property benefits from two points of entry and parking on both sides of the building, offering convenience and flexibility. A total of 13 on-site parking spaces serve the building. The 3,293-square-foot interior layout includes five large private offices, a conference room, a dedicated reception/welcome area, and an open work area. The building is equipped with common restrooms, as well as two private restrooms, one of which includes a shower. An attached two-car garage with a single overhead door provides additional storage or secure parking. The property is located near San Felasco Tech City, Downtown Alachua, and the broader Gainesville market, providing convenient access to US-441 and connectivity to major employment centers, innovation hubs, and a skilled workforce. It is well positioned between Alachua and the University of Florida.
Key Highlights
- Highly visible location at the entrance of Turkey Creek with monument signage.
- Versatile interior layout with 5 private offices, conference room, reception area, and open work space.
- Abundant natural light with floor‑to‑ceiling windows and stained glass accents.
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
$41,077
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
7.34%
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%
$821,540
$821.5K
Cap Rate 7%
$586,814
$586.8K
Cap Rate 9%
$456,411
$456.4K
Market Conditions
NOI Build-Up for 3,293 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
$65.2K $19.80/SF
− Vacancy
−$10.4K −$3.17/SF
EGI
$54.8K $16.63/SF
− OpEx
−$13.7K −$4.16/SF
NOI
$41.1K $12.47/SF
Area
Alachua County, 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%
$821,540
Cap Rate 7%
$586,814
Cap Rate 9%
$456,411
Alternative Uses
Best Use
Office B
$586.8K
$513.5K – $684.6K
NOI $41,077 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$830.2K
$726.4K – $968.5K
NOI $58,112 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 32615, FL
16,524
Population
6,908
Households
2.4
Avg Household Size
44
Median Age
40%
College-Educated
95%
High-School Grad
137.8 sq mi
ZIP Area
120
Density / Sq Mi
$79,983
Median Household Income
$49,772
Median Earnings
$1,131
Median Rent
$289,000
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?
Office building - Visible, functional office building with golf course views in Alachua.
Where is this office building located?
The property is located at 11820 Turkey Creek Blvd Alachua, FL.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Highly visible location at the entrance of Turkey Creek with monument signage.; Versatile interior layout with 5 private offices, conference room, reception area, and open work space.; Abundant natural light with floor‑to‑ceiling windows and stained glass accents.
