Second-Floor Office Suite with
For Sale
Contact for pricing
1204 NW 69th Ter, Gainesville, FL 32605
Redeveloped 1,671 SF second-floor suite with five private offices, updated HVAC, and elevator access plus ample on-site parking.
Property Size1,671 SF
Price / SF$146.02
Days on Market32
Property Features for 1204 NW 69th Ter
General Information
Standard status
Active
Size
1,671 SF
Elevators
Yes
Property subtype
OFFICE
Additional Details
Floor
2
Amenities
large lobby
2 restrooms
large reception desk and workspace
ample storage space
large windows
kitchenette
large entry hall
Listing Agency:
Coldwell Banker M.M. Parrish Realtors | Gainesville (Northwest)
(352) 922-0048
Listed By:
Shasta N. Schoellhorn · License #3484708
(352) 922-0048
Source:
Moodyscre
Added: Jul 16
Changed: Aug 8
Last Checked: Aug 16 at 9:24AM
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 | Gainesville (Northwest)
Investment Insights
Based on property information with market context.
This beautifully redecorated second-floor office suite offers a professional layout with five private offices, a large lobby, a reception desk and workspace, and an additional large entry hall. The space includes two restrooms and a kitchenette, with ample storage throughout. Large windows provide views and bring natural light into the work environment.
The suite is served by HVAC that is only three years old. The building has a new roof and is in excellent condition. Access is designed for convenience, with a large stairway plus an elevator for the second-floor location.
Parking is available on site for both staff and clients. The property is part of a “Professional Complex” structured as a fractional ownership, with six property owners sharing common area expenses.
The suite is served by HVAC that is only three years old. The building has a new roof and is in excellent condition. Access is designed for convenience, with a large stairway plus an elevator for the second-floor location.
Parking is available on site for both staff and clients. The property is part of a “Professional Complex” structured as a fractional ownership, with six property owners sharing common area expenses.
Key Highlights
- 1,671 SF second‑floor office suite with large lobby, reception area, and workspace
- Five private offices plus kitchenette and ample storage
- Two restrooms and a large entry hall
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
$20,844
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
8.54%
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%
$416,880
$416.9K
Cap Rate 7%
$297,771
$297.8K
Cap Rate 9%
$231,600
$231.6K
Market Conditions
NOI Build-Up for 1,671 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
$33.1K $19.80/SF
− Vacancy
−$5.3K −$3.17/SF
EGI
$27.8K $16.63/SF
− OpEx
−$6.9K −$4.16/SF
NOI
$20.8K $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%
$416,880
Cap Rate 7%
$297,771
Cap Rate 9%
$231,600
Alternative Uses
Best Use
Office B
$297.8K
$260.6K – $347.4K
NOI $20,844 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$413.9K
$362.1K – $482.9K
NOI $28,971 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,445
Businesses Nearby
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?
Office units - Redeveloped 1,671 SF second-floor suite with five private offices, updated HVAC, and elevator access plus ample on-site parking.
Where is this office units located?
The property is located at 1204 NW 69th Ter Gainesville, FL.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: 1,671 SF second‑floor office suite with large lobby, reception area, and workspace; Five private offices plus kitchenette and ample storage; Two restrooms and a large entry hall
