Redecorated Office with Private
For Sale
$244,000
1204 NW 69th Terrace B, Gainesville, FL 32605
Professional office space featuring five private offices and ample parking.
Property Size1,671 SF
Lot Size0.04 Acres
Days on Market161
Property Features for 1204 NW 69th Terrace B
General Information
Standard status
Active
Size
1,671 SF
Lot size
0.04 Acres
Property subtype
Office
Building Details
Building Size
1,671 SF
Year Built
1977
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS
(352) 281-1240
Listed By:
Greg Johnson · License #3332615
(352) 281-1240
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 9
Last Checked: Aug 9 at 10:50PM
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
Investment Insights
Based on property information with market context.
This redecorated professional office features five private offices, a large lobby, two restrooms, a large reception desk and workspace, ample storage space, a kitchenette, and a large entry hall. Large windows offer views and create a pleasant work environment. The HVAC system is three years old, and the building has a new roof and is in excellent condition. The second-floor office is accessible via a large stairway and an elevator. The property includes on-site parking for staff and clients. This property is part of the "Professional Complex" development, set up as fractional ownership with six property owners sharing common area expenses on 0.04 acres.
Key Highlights
- Turnkey professional office featuring 5 private offices, large lobby, and reception area.
- Convenient access with both a large stairway and an elevator.
- Abundant on‑site parking for staff and clients.
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 - Professional office space featuring five private offices and ample parking.
Where is this office units located?
The property is located at 1204 NW 69th Terrace B 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: Turnkey professional office featuring 5 private offices, large lobby, and reception area.; Convenient access with both a large stairway and an elevator.; Abundant on‑site parking for staff and clients.
