Medical Office with Exam
For Sale
Contact for pricing
223 North Main Street, Williston, FL 32696
An established clinical layout includes dedicated provider, lab, reception, and staff areas.
Property Size4,502 SF
Lot Size0.59 Acres
Price / SF$188.80
Days on Market8
Property Features for 223 North Main Street
General Information
Standard status
Active
Size
4,502 SF
Lot size
0.59 Acres
Property subtype
Office
Zoning
C-2
Additional Details
Road Access
Yes
Amenities
fiber-optic connectivity
separate room ventilation
three HVAC systems
two mini-split units
standby generator
monument signage
Building Details
Buildings
1
Building Size
4,502 SF
Listing Agency:
Bosshardt Realty Services
Listed By:
Makayla Richardson · License #SL3598503
(352) 256-7532
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 2:31PM
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.
Configured for medical use, this 4,502-square-foot office building contains 3,996 square feet of heated space on a 0.59-acre parcel. The interior includes eight exam rooms, four provider offices, a laboratory, nurse station, reception and waiting areas, plus staff, administrative, and support space. Building systems include three HVAC systems, two mini-split units, separate room ventilation, fiber-optic connectivity, and a standby generator.
The property is zoned C-2 and has monument signage along N Main Street.
The property is zoned C-2 and has monument signage along N Main Street.
Key Highlights
- 4,502 SF building with 3,996 SF of heated area
- Medical layout includes 8 exam rooms and 4 provider offices
- Laboratory, nurse station, reception and waiting areas, and staff and administrative areas
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
$56,660
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
6.67%
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%
$1,133,200
$1.1M
Cap Rate 7%
$809,429
$809.4K
Cap Rate 9%
$629,556
$629.6K
Market Conditions
NOI Build-Up for 4,502 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
$102.6K $22.80/SF
− Vacancy
−$8.2K −$1.82/SF
EGI
$94.4K $20.98/SF
− OpEx
−$37.8K −$8.39/SF
NOI
$56.7K $12.59/SF
Area
Levy 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%
$1,133,200
Cap Rate 7%
$809,429
Cap Rate 9%
$629,556
Alternative Uses
Best Use
Healthcare Medical
$809.4K
$708.3K – $944.3K
NOI $56,660 @ 7.0% cap · market cap 6.67%
Second Best
Office B
$802.3K
$702.0K – $936.0K
NOI $56,158 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$1.12M
$975.7K – $1.30M
NOI $78,054 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32696, FL
12,784
Population
6,133
Households
2.1
Avg Household Size
46
Median Age
20%
College-Educated
88%
High-School Grad
142.4 sq mi
ZIP Area
90
Density / Sq Mi
$56,944
Median Household Income
$36,368
Median Earnings
$827
Median Rent
$202,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - An established clinical layout includes dedicated provider, lab, reception, and staff areas.
Where is this medical office space located?
The property is located at 223 North Main Street Williston, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,502 SF building with 3,996 SF of heated area; Medical layout includes 8 exam rooms and 4 provider offices; Laboratory, nurse station, reception and waiting areas, and staff and administrative areas
