Office Building on Corner
New
For Sale
$380,000
2226 NW 8TH, Gainesville, FL 32609
A Bike Score of 81 and Walk Score of 65 characterize this Gainesville location.
Property Size1,186 SF
Days on Market5
Property Features for 2226 NW 8TH
General Information
Standard status
Active
Size
1,186 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,104
Building Details
Building Size
1,186 SF
Year Built
1947
Listing Agency:
Suskin Realty, Inc.
Listed By:
Marc Suskin · License #0153978
(352) 318-9474
Source:
Elliman
Added: Sep 30
Last Checked: Oct 4 at 12:22PM
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 Suskin Realty, Inc.
Investment Insights
Based on property information with market context.
Built in 1947, this Gainesville office property occupies a corner parcel and includes parking. It is near major roadways and the University of Florida area, with a Bike Score of 81 and a Walk Score of 65.
Key Highlights
- 1947 construction
- Corner parcel with parking
- Bike Score of 81 and Walk Score of 65
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
$14,794
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
3.89%
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%
$295,880
$295.9K
Cap Rate 7%
$211,343
$211.3K
Cap Rate 9%
$164,378
$164.4K
Market Conditions
NOI Build-Up for 1,186 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
$23.5K $19.80/SF
− Vacancy
−$3.8K −$3.17/SF
EGI
$19.7K $16.63/SF
− OpEx
−$4.9K −$4.16/SF
NOI
$14.8K $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 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%
$295,880
Cap Rate 7%
$211,343
Cap Rate 9%
$164,378
Alternative Uses
Best Use
Office B
$211.3K
$184.9K – $246.6K
NOI $14,794 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.7K
$257.0K – $342.7K
NOI $20,562 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
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
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 - A Bike Score of 81 and Walk Score of 65 characterize this Gainesville location.
Where is this office building located?
The property is located at 2226 NW 8TH Gainesville, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1947 construction; Corner parcel with parking; Bike Score of 81 and Walk Score of 65
