Second-Floor Professional Office
For Sale
$239,000
1204 NW 69TH Terrace, Gainesville, FL 32605
Commercial Sale, GAINESVILLE, FL
Property Size1,671 SF
Lot Size0.04 Acres
Price / SF$143.03
Days on Market205
Property Features for 1204 NW 69TH Terrace
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
AP
Directions
Go north on NW 69th Terrace at West Newberry Road. Office building is located on the left side of the road approximately 1/4 mile north of West Newberry Road. The Professional Complex is located at the corner of NW 11th Place and NW 69th Terrace.
Subdivision
32605 - Gainesville
Standard status
Active
APN
06336-005-002
Size
1,671 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
1204 PROFESSIONAL OFFICE COMPLEX OR 1464/599 SUITE B & 1/6 INT IN COMMON AREAS OR 5046/945
Tax Annual Amount
3691
Legal Description
1204 PROFESSIONAL OFFICE COMPLEX OR 1464/599 SUITE B & 1/6 INT IN COMMON AREAS OR 5046/945
Utilities
Cooling system
Central Air
Amenities
kitchenette
storage space
Building Details
Year built
1977
Building materials
Brick, Cedar
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS · Coldwell Banker Real Estate
(352) 335-4999
Listed By:
Shasta Schoellhorn · License #3332615
(352) 922-0048
Added: Feb 6
Changed: Aug 21
Last Checked: Aug 30 at 9:06AM
MLS# GC537458
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 1,671-square-foot second-floor office unit in a six-owner professional complex offers five private offices, a spacious lobby, reception and work areas, two restrooms, a kitchenette, an entry hall, and storage. Large windows provide views and natural light, while central air supports the workspace. The building was constructed in 1977 and features a roof replacement; the HVAC system is 3 years old. Brick and cedar exterior materials complement the professional setting.
Access is provided by both a broad stairway and an elevator, with on-site parking available for staff and clients. The property is zoned AP. Ownership is fractional, with six property owners sharing common area expenses, making the ownership structure an important part of the offering.
Access is provided by both a broad stairway and an elevator, with on-site parking available for staff and clients. The property is zoned AP. Ownership is fractional, with six property owners sharing common area expenses, making the ownership structure an important part of the offering.
Key Highlights
- 1,671 SF second‑floor office unit in a six‑owner professional complex
- Five private offices, lobby, reception/work area, kitchenette, storage, and two restrooms
- HVAC system is 3 years old; building has a new roof
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
8.72%
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 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$413.9K
$362.1K – $482.9K
NOI $28,971 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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 office suite with private rooms, reception areas, elevator access, and on-site parking for staff and visitors.
Where is this office units located?
The property is located at 1204 NW 69TH Terrace Gainesville, FL.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 1,671 SF second‑floor office unit in a six‑owner professional complex; Five private offices, lobby, reception/work area, kitchenette, storage, and two restrooms; HVAC system is 3 years old; building has a new roof
