Medical Office Building with Five Exam
For Sale
Contact for pricing
18635 NW US Hwy 441, High Springs, FL 32643
Historic medical office on a C-3 zoned 0.61-acre lot with five exam rooms, reception, and waiting area.
Property Size2,212 SF
Lot Size0.61 Acres
Price / SF$164.56
Days on Market532
Property Features for 18635 NW US Hwy 441
General Information
Standard status
Active
Size
2,212 SF
Lot size
0.61 Acres
Property subtype
OFFICE
Zoning
C-3
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
outdoor storage
attached breakroom
Building Details
Buildings
1
Listing Agency:
Bosshardt Realty Services
Listed By:
Eric Ligman · License #3086548
(352) 256-2112
Source:
Moodyscre
Added: Apr 1, 2025
Changed: Sep 1
Last Checked: Sep 14 at 11:54AM
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.
Historic medical office building on US Hwy 441 in High Springs, Florida, designed for clinical use. The interior includes five well-equipped medical exam rooms, two administrative offices, a reception area, and a waiting room.
The property sits on a 0.61-acre lot and is zoned C-3. Outdoor storage is available, and the building includes an attached breakroom. Parcel A includes a 0.44-acre building site (Parcel #00481-001-000) and Parcel B includes a 0.17-acre vacant parcel (Parcel #00481-000-000).
The property sits on a 0.61-acre lot and is zoned C-3. Outdoor storage is available, and the building includes an attached breakroom. Parcel A includes a 0.44-acre building site (Parcel #00481-001-000) and Parcel B includes a 0.17-acre vacant parcel (Parcel #00481-000-000).
Key Highlights
- Five medical exam rooms plus reception and waiting room
- C‑3 zoning
- 0.61‑acre lot with Parcel A 0.44 acres and Parcel B 0.17 acres
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
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32643, FL
12,549
Population
4,487
Households
2.8
Avg Household Size
44
Median Age
25%
College-Educated
90%
High-School Grad
112.1 sq mi
ZIP Area
112
Density / Sq Mi
$69,871
Median Household Income
$40,458
Median Earnings
$1,515
Median Rent
$254,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Historic medical office on a C-3 zoned 0.61-acre lot with five exam rooms, reception, and waiting area.
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: Five medical exam rooms plus reception and waiting room; C‑3 zoning; 0.61‑acre lot with Parcel A 0.44 acres and Parcel B 0.17 acres
