Historic Medical Office
For Sale
Contact for pricing
18635 NW US Hwy 441, High Springs, FL
Iconic medical office building on HWY 441 in High Springs.
Property Size2,212 SF
Lot Size0.43 Acres
Price / SF$164.56
Days on Market497
Property Features for 18635 NW US Hwy 441
General Information
Standard status
Active
Size
2,212 SF
Lot size
0.43 Acres
Property subtype
OFFICE
Listing Agency:
Bosshardt Realty Services
(352) 256-2112
Listed By:
Eric Ligman · License #3086548
(352) 256-2112
Source:
Moodyscre
Added: Apr 1, 2025
Changed: Aug 8
Last Checked: May 20 at 8:28PM
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 historic medical office building is located on HWY 441 in High Springs. The property includes five equipped medical exam rooms, two administrative offices, a reception area, and a waiting room. It is situated on a 0.61-acre lot with C-3 zoning and features outdoor storage and an attached breakroom. The property consists of two parcels: Parcel A, which is 0.44 acres and contains the building (Parcel # 00481-001-000), and Parcel B, which is 0.17 acres and vacant (Parcel # 00481-000-000). The building has a size of 2212 square feet. The property's location, visibility, and community connections make it an opportunity for medical professionals or investors looking to establish or expand in the High Springs market. The property is intended for use as medical offices.
Key Highlights
- Prime location on HWY 441 in High Springs with excellent visibility.
- Zoned C‑3, suitable for commercial use and investment.
- Includes five well‑equipped medical exam rooms, two administrative offices, a reception area, and a waiting room.
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
$27,839
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
7.65%
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%
$556,780
$556.8K
Cap Rate 7%
$397,700
$397.7K
Cap Rate 9%
$309,322
$309.3K
Market Conditions
NOI Build-Up for 2,212 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
$50.4K $22.80/SF
− Vacancy
−$4.0K −$1.82/SF
EGI
$46.4K $20.98/SF
− OpEx
−$18.6K −$8.39/SF
NOI
$27.8K $12.59/SF
Area
Alachua County, 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%
$556,780
Cap Rate 7%
$397,700
Cap Rate 9%
$309,322
Alternative Uses
Best Use
Healthcare Medical
$397.7K
$348.0K – $464.0K
NOI $27,839 @ 7.0% cap · market cap 7.65%
Second Best
Office B
$394.2K
$344.9K – $459.9K
NOI $27,592 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$557.7K
$488.0K – $650.6K
NOI $39,036 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Iconic medical office building on HWY 441 in High Springs.
Where is this medical office space located?
The property is located at 18635 NW US Hwy 441 High Springs, FL.
What is the asking price?
The asking price for this property is $364,000.
What are key features of this property?
This property features: Prime location on HWY 441 in High Springs with excellent visibility.; Zoned C‑3, suitable for commercial use and investment.; Includes five well‑equipped medical exam rooms, two administrative offices, a reception area, and a waiting room.
