Multi-Tenant NNN
For Sale
$1,200,000
1504 SW 74TH DRIVE, Gainesville, FL 32607
Two established service-oriented tenants occupy a 2023 commercial building with limited landlord obligations.
Property Size6,840 SF
Price / SF$175.44
Days on Market510
Property Features for 1504 SW 74TH DRIVE
General Information
Standard status
Active
Size
6,840 SF
Property subtype
Commercial/Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$18,398
Building Details
Year Built
2023
Tenancy
Multi
Listing Agency:
SWIFT CREEK REALTY & INVESTMENT CORP
(386) 496-0499
Listed By:
Amber Crawford · License #3111060
(352) 278-2627
Source:
Exitrealty
Added: May 23, 2025
Changed: Sep 30
Last Checked: Sep 30 at 10:41AM
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 SWIFT CREEK REALTY & INVESTMENT CORP
Investment Insights
Based on property information with market context.
Built in 2023, this 6,840-square-foot commercial property is configured for multiple occupants and currently houses Marco's Pizza and Grand Oaks Nail Salon. Lease terms have approximately 7+/- years remaining, with tenants covering building expenses other than maintenance of structural elements. The property’s age is cited as a factor supporting limited anticipated structural maintenance.
The site is at 1504 SW 74th Drive in Markets West Commercial Park, near SW 75th Street (Tower Road) and a roundabout serving the development. It is positioned along the corridor connecting Newberry and Archer Road and sits 2.5 miles from I-75. Nearby businesses include O2B Kids, HCA Florida, Sherwin Williams, Elliano's Coffee, and Dollar General. The surrounding area includes more than 13,000 residents within a 1-mile radius, with average household incomes above $100,000.
The site is at 1504 SW 74th Drive in Markets West Commercial Park, near SW 75th Street (Tower Road) and a roundabout serving the development. It is positioned along the corridor connecting Newberry and Archer Road and sits 2.5 miles from I-75. Nearby businesses include O2B Kids, HCA Florida, Sherwin Williams, Elliano's Coffee, and Dollar General. The surrounding area includes more than 13,000 residents within a 1-mile radius, with average household incomes above $100,000.
Key Highlights
- 6,840‑square‑foot multi‑tenant commercial property
- Constructed in 2023
- Approximately 7+/- years remaining on current lease terms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,444
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,880
$1.6M
Cap Rate 7%
$1,163,486
$1.2M
Cap Rate 9%
$904,933
$904.9K
Market Conditions
NOI Build-Up for 6,840 SF
Gross rent
$114.9K $16.80/SF
− Vacancy
−$6.3K −$0.92/SF
EGI
$108.6K $15.88/SF
− OpEx
−$27.1K −$3.97/SF
NOI
$81.4K $11.91/SF
Area
Gainesville, FL
Vacancy
5.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,880
Cap Rate 7%
$1,163,486
Cap Rate 9%
$904,933
Alternative Uses
Best Use
Specialty Retail
$1.16M
$1.02M – $1.36M
NOI $81,444 @ 7.0% cap · market cap 6.79%
Second Best
Retail
$1.04M
$906.6K – $1.21M
NOI $72,524 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,589 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 32607, FL
35,420
Population
16,465
Households
2.2
Avg Household Size
28
Median Age
53%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,811
Density / Sq Mi
$46,517
Median Household Income
$30,690
Median Earnings
$1,222
Median Rent
$297,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
NNN property - Two established service-oriented tenants occupy a 2023 commercial building with limited landlord obligations.
Where is this nnn property located?
The property is located at 1504 SW 74TH DRIVE Gainesville, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,840‑square‑foot multi‑tenant commercial property; Constructed in 2023; Approximately 7+/- years remaining on current lease terms
