Industrial Flex Space For
For Sale
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2300 NW 71st Place, Gainesville, FL 32653
Versatile industrial/flex property with office and warehouse space.
Property Size12,000 SF
Lot Size1.05 Acres
Price / SF$135.42
Days on Market166
Property Features for 2300 NW 71st Place
General Information
Standard status
Active
Size
12,000 SF
Class
B
Lot size
1.05 Acres
Property subtype
Industrial
Zoning
I1
Occupancy
100%
Lease Type
NNN
Net Operating Income
$121,838
Building Details
Year Built
1986
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Coldwell Banker M. M. Parrish Realtors
Listed By:
Perry Pursell · License #FL
Source:
Crexi
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 8 at 2:43PM
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.
This industrial/flex property features a combination of warehouse and office space. The concrete block building encompasses approximately 12,360 square feet and is situated on approximately 1.05 acres, zoned I-1. The interior includes 14 private offices, a large reception/lobby area, and a full kitchen/break area. The property also features approximately 3,396 square feet of office space and approximately 8,500 square feet of warehouse/manufacturing space. The warehouse area is equipped with five roll-up doors, paved yard, and drive areas.
Key Highlights
- Combination of ±8,500 SF warehouse and ±3,396 SF office space.
- ±12,360 SF concrete block building on ±1.05 acres.
- Zoned I‑1.
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
$112,554
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
6.93%
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%
$2,251,080
$2.3M
Cap Rate 7%
$1,607,914
$1.6M
Cap Rate 9%
$1,250,600
$1.3M
Market Conditions
NOI Build-Up for 12,000 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
$187.2K $15.60/SF
− Vacancy
−$14.0K −$1.17/SF
EGI
$173.2K $14.43/SF
− OpEx
−$60.6K −$5.05/SF
NOI
$112.6K $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%
$2,251,080
Cap Rate 7%
$1,607,914
Cap Rate 9%
$1,250,600
Alternative Uses
Best Use
Flex RnD
$1.61M
$1.41M – $1.88M
NOI $112,554 @ 7.0% cap · market cap 6.93%
Second Best
Warehouse
$1.25M
$1.10M – $1.46M
NOI $87,669 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,051 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial/flex property with office and warehouse space.
Where is this flex space located?
The property is located at 2300 NW 71st Place 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: Combination of ±8,500 SF warehouse and ±3,396 SF office space.; ±12,360 SF concrete block building on ±1.05 acres.; Zoned I‑1.
