Three-Building Office
For Sale
$1,750,000
5217 SW 91ST DR 5231 SW 91ST DR 5213 SW 91ST DR, Gainesville, FL 32608
Three office properties provide a multi-building commercial configuration in Gainesville.
Property Size11,018 SF
Days on Market67
Property Features for 5217 SW 91ST DR 5231 SW 91ST DR 5213 SW 91ST DR
General Information
Standard status
Active
Size
11,018 SF
Class
B
Property subtype
Office
Net Operating Income
$133,480
Building Details
Building Size
11,018 SF
Year Built
1993
Listing Agency:
Bosshardt Realty Services
(352) 318-9700
Listed By:
Aaron Bosshardt · License #FL #BK635736
Source:
Bosscommercial
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 12:49AM
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 office offering includes three properties associated with 5217 SW 91ST DR, 5231 SW 91ST DR, and 5213 SW 91ST DR in Gainesville, Florida. The buildings contain 3,024 heated and cooled square feet, 3,600 heated and cooled square feet, and 4,180 heated and cooled square feet, respectively.
Constructed in 1993, the properties are presented together as an office building offering within the Haile Village Center area. The individual addresses and varied building sizes provide a clearly defined multi-property configuration for review.
Constructed in 1993, the properties are presented together as an office building offering within the Haile Village Center area. The individual addresses and varied building sizes provide a clearly defined multi-property configuration for review.
Key Highlights
- Three office properties at 5217 SW 91ST DR, 5231 SW 91ST DR, and 5213 SW 91ST DR
- 3,024 heated and cooled square feet at 5217 SW 91ST DR
- 3,600 heated and cooled square feet at 5231 SW 91ST DR
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
$137,439
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
7.85%
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%
$2,748,780
$2.7M
Cap Rate 7%
$1,963,414
$2.0M
Cap Rate 9%
$1,527,100
$1.5M
Market Conditions
NOI Build-Up for 11,018 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
$218.2K $19.80/SF
− Vacancy
−$34.9K −$3.17/SF
EGI
$183.3K $16.63/SF
− OpEx
−$45.8K −$4.16/SF
NOI
$137.4K $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%
$2,748,780
Cap Rate 7%
$1,963,414
Cap Rate 9%
$1,527,100
Alternative Uses
Best Use
Office B
$1.96M
$1.72M – $2.29M
NOI $137,439 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.73M
$2.39M – $3.18M
NOI $191,026 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 32608, FL
55,540
Population
25,939
Households
2.1
Avg Household Size
29
Median Age
58%
College-Educated
95%
High-School Grad
44.5 sq mi
ZIP Area
1,248
Density / Sq Mi
$60,182
Median Household Income
$34,991
Median Earnings
$1,357
Median Rent
$340,200
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 - Three office properties provide a multi-building commercial configuration in Gainesville.
Where is this office building located?
The property is located at 5217 SW 91ST DR 5231 SW 91ST DR 5213 SW 91ST DR Gainesville, FL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Three office properties at 5217 SW 91ST DR, 5231 SW 91ST DR, and 5213 SW 91ST DR; 3,024 heated and cooled square feet at 5217 SW 91ST DR; 3,600 heated and cooled square feet at 5231 SW 91ST DR
