Brick Office
New
For Sale
$1,458,600
2209 NW 40th Terrace, Gainesville, FL 32605
The 1994 property offers professional office space with access from NW 16th Boulevard.
Property Size7,293 SF
Price / SF$200
Days on Market1
Property Features for 2209 NW 40th Terrace
General Information
Standard status
Active
Size
7,293 SF
Property subtype
Office
Additional Details
Road Access
Yes
Building Details
Building Size
7,293 SF
Year Built
1994
Construction
brick
Listing Agency:
Lee & Associates
Listed By:
Dan Drotos, MSRE, CCIM, SIOR · License #FL #BK3255693
(352) 420-9889
Source:
Lee-associates
Added: Oct 7
Last Checked: Oct 7 at 2:26PM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This brick office building contains 7,293± SF of professional space and was built in 1994. It is located at 2209 NW 40th Terrace in Gainesville, within Crown Pointe IV Office Park.
NW 16th Boulevard is nearby, with approximately 19,700 AADT. The property is also near NW 43rd Street, Publix, Fresh Market, and Thornebrook Village.
NW 16th Boulevard is nearby, with approximately 19,700 AADT. The property is also near NW 43rd Street, Publix, Fresh Market, and Thornebrook Village.
Key Highlights
- 7,293± SF of professional office space
- Brick building constructed in 1994
- Approximately 19,700 AADT on NW 16th Boulevard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,973
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,819,460
$1.8M
Cap Rate 7%
$1,299,614
$1.3M
Cap Rate 9%
$1,010,811
$1.0M
Market Conditions
NOI Build-Up for 7,293 SF
Gross rent
$144.4K $19.80/SF
− Vacancy
−$23.1K −$3.17/SF
EGI
$121.3K $16.63/SF
− OpEx
−$30.3K −$4.16/SF
NOI
$91.0K $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 Rate 5%
$1,819,460
Cap Rate 7%
$1,299,614
Cap Rate 9%
$1,010,811
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $90,973 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,443 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 32605, FL
24,326
Population
11,651
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
9.8 sq mi
ZIP Area
2,482
Density / Sq Mi
$83,114
Median Household Income
$48,741
Median Earnings
$1,505
Median Rent
$264,700
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?
Office building - The 1994 property offers professional office space with access from NW 16th Boulevard.
Where is this office building located?
The property is located at 2209 NW 40th Terrace Gainesville, FL.
What is the asking price?
The asking price for this property is $1,458,600.
What are key features of this property?
This property features: 7,293± SF of professional office space; Brick building constructed in 1994; Approximately 19,700 AADT on NW 16th Boulevard
