Corner Flex
For Sale
$199,000
2051 NE 31st Avenue, Gainesville, FL 32609
Block construction, a recently replaced roof, and an open interior support adaptable commercial use.
Property Size2,530 SF
Price / SF$78.66
Days on Market67
Property Features for 2051 NE 31st Avenue
General Information
Standard status
Active
Size
2,530 SF
Class
B
Property subtype
Office
Building Details
Building Size
2,530 SF
Year Built
1980
Construction
block
Listing Agency:
Bosshardt Realty Services
(352) 318-9700
Listed By:
Aaron Bosshardt · License #FL #BK635736
Source:
Bosscommercial
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 6:09PM
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 2,530 SF flex property combines office, showroom, and open-plan functionality within a durable block-construction building. The interior includes three bathrooms, with one featuring a shower, and the layout is designed around a broad, unobstructed floor area. A new roof was installed within the last 12 months, and the building was originally constructed in 1980.
The property occupies a corner position in the NE Industrial Park at 2051 NE 31st Avenue in Gainesville, Florida. Its office/showroom configuration and open interior provide a practical setting for a range of commercial operations, while the building’s established construction and recent roof replacement add useful physical context for ownership review.
The property occupies a corner position in the NE Industrial Park at 2051 NE 31st Avenue in Gainesville, Florida. Its office/showroom configuration and open interior provide a practical setting for a range of commercial operations, while the building’s established construction and recent roof replacement add useful physical context for ownership review.
Key Highlights
- 2,530 SF flex building at 2051 NE 31st Avenue, Gainesville, FL 32609
- Corner position in the NE Industrial Park
- New roof installed within the last 12 months
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
$17,161
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
8.62%
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%
$343,220
$343.2K
Cap Rate 7%
$245,157
$245.2K
Cap Rate 9%
$190,678
$190.7K
Market Conditions
NOI Build-Up for 2,530 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
$25.8K $10.20/SF
− Vacancy
−$1.3K −$0.51/SF
EGI
$24.5K $9.69/SF
− OpEx
−$7.4K −$2.91/SF
NOI
$17.2K $6.78/SF
Area
Gainesville, FL
Vacancy
5.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$343,220
Cap Rate 7%
$245,157
Cap Rate 9%
$190,678
Alternative Uses
Best Use
Office B
$450.8K
$394.5K – $526.0K
NOI $31,559 @ 7.0% cap · market cap 15.86%
Second Best
Retail
$383.2K
$335.3K – $447.1K
NOI $26,825 @ 7.0% cap · market cap 13.48%
Theoretical Best
Office A
$626.6K
$548.3K – $731.1K
NOI $43,864 @ 7.0% cap · market cap 22.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Hill's Bar-b-que & Catering — 2626 NE 39th Ave, Gainesville, FL 32609
Frequently Asked Questions
What type of property is this?
Flex space - Block construction, a recently replaced roof, and an open interior support adaptable commercial use.
Where is this flex space located?
The property is located at 2051 NE 31st Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 2,530 SF flex building at 2051 NE 31st Avenue, Gainesville, FL 32609; Corner position in the NE Industrial Park; New roof installed within the last 12 months
