Medical Office
For Sale
$375,000
230 NW 76TH Drive, Gainesville, FL 32607
Commercial Sale, GAINESVILLE, FL
Property Size1,873 SF
Lot Size0.04 Acres
Price / SF$200.21
Days on Market231
Property Features for 230 NW 76TH Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
PD
Subdivision
TOWER HILL
Directions
From Tioga or Jonesville area - East on Newberry Road, right on Tower Road (NW 75th) to office complex on right. From North Florida, Campus or Oaks Mall - West on Newberry Road, left on Tower Road to office complex on left. Can't miss it!
Standard status
Active
APN
06656-570-182
Size
1,873 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM SE COR SEC N 00 DEG 23 MIN 28 SEC E 49.99 FT N 89 DEG 40 MIN 44 SEC W 49.91 FT N 00 DEG 24 MIN 14 SEC E 2666.37 FT N 89 DEG 19 MIN 26 SEC W 272.83 FT S 00 DEG 23 MIN 28 SEC W 160.13 FT N 89 DEG 21 MIN 04 SEC W 570.41 FT N 00 DEG 22 MIN 48 SEC E 7 88.14 FT N 00 DEG 22 MIN 48 SEC E 187.50 FT S 89 DEG 37 MIN 12 SEC E 20.21 FT N 00 DEG 22 MIN 48 E .16 FT N 00 DEG 22 MIN 48 SEC E 47.80 FT POB N 00 DEG 22 MIN 48 SEC E 36.60 FT S 89 DEG 37 MIN 12 SEC E 50 FT S 00 DEG 22 MIN 48 SEC W 36.60 FT N 89 DE G 37 MIN 12 SEC W 50 FT POB ALSO 37% COMMON AREA PER OR 2903/887) OR 4507/1436
Tax Annual Amount
5610
Legal Description
COM SE COR SEC N 00 DEG 23 MIN 28 SEC E 49.99 FT N 89 DEG 40 MIN 44 SEC W 49.91 FT N 00 DEG 24 MIN 14 SEC E 2666.37 FT N 89 DEG 19 MIN 26 SEC W 272.83 FT S 00 DEG 23 MIN 28 SEC W 160.13 FT N 89 DEG 21 MIN 04 SEC W 570.41 FT N 00 DEG 22 MIN 48 SEC E 7 88.14 FT N 00 DEG 22 MIN 48 SEC E 187.50 FT S 89 DEG 37 MIN 12 SEC E 20.21 FT N 00 DEG 22 MIN 48 E .16 FT N 00 DEG 22 MIN 48 SEC E 47.80 FT POB N 00 DEG 22 MIN 48 SEC E 36.60 FT S 89 DEG 37 MIN 12 SEC E 50 FT S 00 DEG 22 MIN 48 SEC W 36.60 FT N 89 DE G 37 MIN 12 SEC W 50 FT POB ALSO 37% COMMON AREA PER OR 2903/887) OR 4507/1436
Utilities
Cooling system
Central Air
Building Details
Year built
2003
Floors in Building
1
Building materials
Concrete
Listing Agency:
UNIVERSITY REALTY
(352) 327-9500
Listed By:
Eric Warm · License #3282023
(352) 283-1384
Added: Jan 14
Changed: Aug 24
Last Checked: Sep 2 at 9:06PM
MLS# GC536619
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office condominium provides 1,873 square feet of dedicated workspace within an established office park. The suite features concrete construction and central air, with a layout suited to medical or professional office use. The property was built in 2003 and carries PD zoning.
Located at 230 NW 76th Drive in Gainesville, the office has access to Newberry Road and I-75. Its setting along Tower Road provides exposure within a professional corridor surrounded by medical, professional, and retail services. The office park also offers ample parking for occupants and visitors.
Located at 230 NW 76th Drive in Gainesville, the office has access to Newberry Road and I-75. Its setting along Tower Road provides exposure within a professional corridor surrounded by medical, professional, and retail services. The office park also offers ample parking for occupants and visitors.
Key Highlights
- 1,873‑square‑foot medical office condominium
- PD zoning supports the property’s commercial office setting
- Concrete construction with central air
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
$23,573
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
6.29%
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%
$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
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
$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 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%
$471,460
Cap Rate 7%
$336,757
Cap Rate 9%
$261,922
Alternative Uses
Best Use
Healthcare Medical
$336.8K
$294.7K – $392.9K
NOI $23,573 @ 7.0% cap · market cap 6.29%
Second Best
Office B
$333.8K
$292.1K – $389.4K
NOI $23,364 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$463.9K
$405.9K – $541.2K
NOI $32,473 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,003
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Concrete office condominium with central air and access to established professional and medical services.
Where is this medical office space located?
The property is located at 230 NW 76TH Drive 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‑square‑foot medical office condominium; PD zoning supports the property’s commercial office setting; Concrete construction with central air
