Building Details

Year Built 2003

Construction concrete block

Listing Agency: UNIVERSITY REALTY

Listed By: Eric Warm · License #3282023 Show Phone

Source: Whitneyperkinsteam

Added: Jul 20 Changed: Oct 13 Last Checked: Oct 7 at 3:28PM

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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 UNIVERSITY REALTY

Investment Insights

Based on property information with market context.

This medical office condominium contains 1,873 SF within a professional office park. The suite features a flexible layout, concrete block construction, and ample parking, providing a functional setting for medical office operations. Built in 2003, the property is offered for sale as a complete office condominium.

Located at 230 NW 76th Drive, Suite B, the office has visibility from Tower Road and convenient connections to Newberry Road and I-75. Surrounding medical, professional, and retail services add to the established office-park setting.

Key Highlights

• 1,873 SF medical office condominium
• Built in 2003
• Flexible, functional office layout

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,573

Cap Rate

6.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$471,460 $471.5K

Cap Rate 7%

$336,757 $336.8K

Cap Rate 9%

$261,922 $261.9K

Market Conditions

NOI Build-Up for 1,873 SF

Gross rent

$42.7K $22.80/SF

− Vacancy

−$3.4K −$1.82/SF

EGI

$39.3K $20.98/SF

− OpEx

−$15.7K −$8.39/SF

NOI

$23.6K $12.59/SF

Area

Gainesville, 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 Rate 5%

$471,460

Cap Rate 7%

$336,757

Cap Rate 9%

$261,922

Alternative Uses

Best Use

Healthcare Medical

$336.8K

$294.7K – $392.9K (±1% cap)

NOI $23,573 @ 7.0% cap · market cap 6.29%

Second Best

Office B

$333.8K

$292.1K – $389.4K (±1% cap)

NOI $23,364 @ 7.0% cap · market cap 6.23%

Theoretical Best

Office A

$463.9K

$405.9K – $541.2K (±1% cap)

NOI $32,473 @ 7.0% cap · market cap 8.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Medical Office Space

Suggested Use

Top Pick Auto Parts Store Building Supply Auto Repair Shop Big Box & Wholesale Store HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,240

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 32607, FL

35,420

Population

16,465

Households

2.2

Avg Household Size

28

Median Age

53%

College-Educated

95%

High-School Grad

12.6 sq mi

ZIP Area

2,811

Density / Sq Mi

$46,517

Median Household Income

$30,690

Median Earnings

$1,222

Median Rent

$297,800

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Office condominium in an established professional park with parking and access to Newberry Road, I-75, and nearby services.

Where is this medical office space located?

The property is located at 230 NW 76th Drive B Gainesville, FL.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: 1,873 SF medical office condominium; Built in 2003; Flexible, functional office layout