Multi-Tenant NNN Flex
For Sale
Contact for pricing
3033 NE 19th Dr, Gainesville, FL 32609
Fully leased 15-unit flex warehouse with individually metered electrical and 12' ground level bay doors.
Property Size18,125 SF
Price / SF$88
Days on Market530
Property Features for 3033 NE 19th Dr
General Information
Standard status
Active
Size
18,125 SF
Property subtype
INDUSTRIAL
Zoning
I2
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
15
Amenities
individually metered electrical systems
shared water meters
Building Details
Tenancy
Multi
Listing Agency:
Bosshardt Realty Services
Listed By:
Eric Ligman · License #3086548
(352) 256-2112
Source:
Moodyscre
Added: Apr 1, 2025
Changed: Sep 9
Last Checked: Sep 12 at 5:26AM
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
Investment Insights
Based on property information with market context.
This fully leased, income-producing NNN warehouse property is a multi-tenant flex warehouse featuring 15 units. Each unit has individually metered electrical systems and shared water meters, with a 12' ground level bay door providing practical warehouse access for tenant operations.
The property is located at 3033 NE 19th Dr in Gainesville, FL 32609, in an industrial setting with I2 Heavy Industrial zoning. Access to Highway 301 is noted in the offering materials, and a detailed rent roll is available upon request.
With individually metered electrical and shared water meters across the 15 units, the configuration is designed for multiple tenants within a single NNN warehouse framework.
The property is located at 3033 NE 19th Dr in Gainesville, FL 32609, in an industrial setting with I2 Heavy Industrial zoning. Access to Highway 301 is noted in the offering materials, and a detailed rent roll is available upon request.
With individually metered electrical and shared water meters across the 15 units, the configuration is designed for multiple tenants within a single NNN warehouse framework.
Key Highlights
- Fully leased, income‑producing NNN flex warehouse with 15 units
- I2 Heavy Industrial zoning supports a wide range of uses
- Each unit has individually metered electrical systems
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
$132,417
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
8.30%
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%
$2,648,340
$2.6M
Cap Rate 7%
$1,891,671
$1.9M
Cap Rate 9%
$1,471,300
$1.5M
Market Conditions
NOI Build-Up for 18,125 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
$163.1K $9.00/SF
− Vacancy
−$7.3K −$0.41/SF
EGI
$155.8K $8.59/SF
− OpEx
−$23.4K −$1.29/SF
NOI
$132.4K $7.31/SF
Area
Gainesville, FL
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,648,340
Cap Rate 7%
$1,891,671
Cap Rate 9%
$1,471,300
Alternative Uses
Best Use
Flex RnD
$2.43M
$2.13M – $2.83M
NOI $170,003 @ 7.0% cap · market cap 10.66%
Second Best
Warehouse
$1.89M
$1.66M – $2.21M
NOI $132,417 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,244 @ 7.0% cap · market cap 19.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15
Drive-in doors
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased 15-unit flex warehouse with individually metered electrical and 12' ground level bay doors.
Where is this flex space located?
The property is located at 3033 NE 19th Dr Gainesville, FL.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Fully leased, income‑producing NNN flex warehouse with 15 units; I2 Heavy Industrial zoning supports a wide range of uses; Each unit has individually metered electrical systems
