Multi-Suite Office
New
For Sale
$2,350,000
2727 NW 43RD St, Gainesville, FL 32606
Two-building office property with MU2 zoning, street frontage, leased suites, and on-site parking.
Property Size11,309 SF
Lot Size1.50 Acres
Days on Market7
Property Features for 2727 NW 43RD St
General Information
Standard status
Active
Size
11,309 SF
Lot size
1.50 Acres
Property subtype
Commercial
Zoning
MU2
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$31,661
Building Details
Building Size
11,309 SF
Year Built
1976
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
(352) 538-2730
Listed By:
Howard Freeman
(352) 538-2730
Source:
Elliman
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 11 at 9:08AM
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 Howard Freeman
Investment Insights
Based on property information with market context.
The property comprises two office buildings on 1.5 acres, with more than 11,000 square feet across 8+ suites. The existing tenant mix includes wellness services, medical office users, and a salon, providing an established professional-services configuration. MU2 zoning and direct street frontage support the property’s commercial office profile, while on-site parking serves the buildings and their occupants.
Built in 1976, the center is positioned near grocery stores, banks, and Shoppes at Thornebrook. The surrounding area has a BikeScore of 61 and a WalkScore of 9, indicating a bikeable setting with reliance on automobiles for most trips.
Built in 1976, the center is positioned near grocery stores, banks, and Shoppes at Thornebrook. The surrounding area has a BikeScore of 61 and a WalkScore of 9, indicating a bikeable setting with reliance on automobiles for most trips.
Key Highlights
- Two buildings on 1.5 acres
- More than 11,000 square feet across 8+ suites
- MU2 zoning with street frontage
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
$142,331
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
6.06%
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%
$2,846,620
$2.8M
Cap Rate 7%
$2,033,300
$2.0M
Cap Rate 9%
$1,581,456
$1.6M
Market Conditions
NOI Build-Up for 11,309 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
$257.8K $22.80/SF
− Vacancy
−$20.6K −$1.82/SF
EGI
$237.2K $20.98/SF
− OpEx
−$94.9K −$8.39/SF
NOI
$142.3K $12.59/SF
Area
Gainesville, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$2,846,620
Cap Rate 7%
$2,033,300
Cap Rate 9%
$1,581,456
Alternative Uses
Best Use
Healthcare Medical
$2.03M
$1.78M – $2.37M
NOI $142,331 @ 7.0% cap · market cap 6.06%
Second Best
Office B
$2.02M
$1.76M – $2.35M
NOI $141,068 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,071 @ 7.0% cap · market cap 8.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,516
Businesses Nearby
Explore this area
Business Placement
Demographics for 32606, FL
24,380
Population
11,230
Households
2.2
Avg Household Size
40
Median Age
60%
College-Educated
98%
High-School Grad
15.4 sq mi
ZIP Area
1,583
Density / Sq Mi
$79,888
Median Household Income
$49,153
Median Earnings
$1,664
Median Rent
$319,300
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 building - Two-building office property with MU2 zoning, street frontage, leased suites, and on-site parking.
Where is this office building located?
The property is located at 2727 NW 43RD St Gainesville, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Two buildings on 1.5 acres; More than 11,000 square feet across 8+ suites; MU2 zoning with street frontage
