Flex Space with
New
For Sale
$1,625,000
2300 NW 71ST, Gainesville, FL 32653
Concrete-block commercial building with private offices, reception space, kitchen, roll-up doors, and paved yard areas.
Property Size12,360 SF
Lot Size1.05 Acres
Price / SF$131.47
Days on Market2
Property Features for 2300 NW 71ST
General Information
Standard status
Active
Size
12,360 SF
Lot size
1.05 Acres
Property subtype
Industrial
Zoning
I-1
Warehouse & Industrial
Warehouse Space
8,500 SF
Office Build-Out
3,396 SF
Taxes and HOA fees
Annual Taxes
$11,445
Amenities
reception/lobby area
kitchen/break area
Building Details
Building Size
12,360 SF
Year Built
1986
Buildings
1
Construction
concrete block
Listing Agency:
Coldwell Banker M.M. Parrish Realtors
(352) 665-9731
Listed By:
Perry Pursell · License #0518980
(352) 665-9731
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 16 at 5:51AM
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 Coldwell Banker M.M. Parrish Realtors
Investment Insights
Based on property information with market context.
Located at 2300 NW 71ST in Gainesville, this 1986 flex property combines office and warehouse/manufacturing space within a concrete-block building. The approximately ±12,360 SF facility includes 14 private offices, a sizable reception and lobby area, and a full kitchen with break-area functionality. Five roll-up doors serve the warehouse component, while paved yard and drive areas support exterior circulation.
The property occupies approximately ±1.05 acres and carries I-1 zoning. Its configuration provides a dedicated administrative area alongside substantial industrial space, with the office component measuring approximately 3,396 SF and the warehouse/manufacturing area approximately ±8,500 SF. The location is rated Somewhat Bikeable with a bikeScore of 28 and Car-Dependent with a walkScore of 4.
The property occupies approximately ±1.05 acres and carries I-1 zoning. Its configuration provides a dedicated administrative area alongside substantial industrial space, with the office component measuring approximately 3,396 SF and the warehouse/manufacturing area approximately ±8,500 SF. The location is rated Somewhat Bikeable with a bikeScore of 28 and Car-Dependent with a walkScore of 4.
Key Highlights
- ±12,360 SF concrete‑block flex building on approximately ±1.05 acres
- I‑1 zoning supports the property's industrial/flex classification
- 14 private offices with reception, lobby, and full kitchen/break area
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
$115,931
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
7.13%
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%
$2,318,620
$2.3M
Cap Rate 7%
$1,656,157
$1.7M
Cap Rate 9%
$1,288,122
$1.3M
Market Conditions
NOI Build-Up for 12,360 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
$192.8K $15.60/SF
− Vacancy
−$14.5K −$1.17/SF
EGI
$178.4K $14.43/SF
− OpEx
−$62.4K −$5.05/SF
NOI
$115.9K $9.38/SF
Area
Gainesville, FL
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$2,318,620
Cap Rate 7%
$1,656,157
Cap Rate 9%
$1,288,122
Alternative Uses
Best Use
Office B
$2.20M
$1.93M – $2.57M
NOI $154,179 @ 7.0% cap · market cap 9.49%
Second Best
Flex RnD
$1.66M
$1.45M – $1.93M
NOI $115,931 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,293 @ 7.0% cap · market cap 13.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32653, FL
14,397
Population
6,746
Households
2.1
Avg Household Size
45
Median Age
52%
College-Educated
97%
High-School Grad
38.5 sq mi
ZIP Area
374
Density / Sq Mi
$97,700
Median Household Income
$52,523
Median Earnings
$1,130
Median Rent
$273,700
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?
Flex space - Concrete-block commercial building with private offices, reception space, kitchen, roll-up doors, and paved yard areas.
Where is this flex space located?
The property is located at 2300 NW 71ST Gainesville, FL.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: ±12,360 SF concrete‑block flex building on approximately ±1.05 acres; I‑1 zoning supports the property's industrial/flex classification; 14 private offices with reception, lobby, and full kitchen/break area
