Historic Office
For Sale
$399,000
235 SW 2nd Avenue, Gainesville, FL 32601
DT zoning supports office, retail, residential, and mixed-use development with pedestrian-oriented design standards.
Property Size1,835 SF
Price / SF$217.44
Days on Market13
Property Features for 235 SW 2nd Avenue
General Information
Standard status
Active
Size
1,835 SF
Class
B
Property subtype
Office - General Office
Zoning
DT
Additional Details
Public Transit
Yes
Building Details
Building Size
1,835 SF
Listing Agency:
Bosshardt Realty Services
(352) 256-2112
Listed By:
Eric Ligman · License #3086548
Source:
Commercialcafe
Added: Aug 15
Changed: Aug 27
Last Checked: Aug 26 at 5:40AM
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.
The historic Robb House is a 1,835-square-foot office property currently serving as the headquarters of the Alachua County Medical Society and housing the Robb House Medical Museum. Its existing configuration supports professional office use, while the property’s DT zoning accommodates office, retail, residential, and mixed-use development.
Positioned in downtown Gainesville at 235 SW 2nd Avenue, the property is within walking distance of the University of Florida, the Innovation District, and the courthouse. Restaurants, entertainment venues, cultural destinations, and major transit routes are located nearby, with the Hippodrome Theatre and Bo Diddley Plaza among the surrounding landmarks. The setting combines an established urban environment with pedestrian-oriented development standards.
Positioned in downtown Gainesville at 235 SW 2nd Avenue, the property is within walking distance of the University of Florida, the Innovation District, and the courthouse. Restaurants, entertainment venues, cultural destinations, and major transit routes are located nearby, with the Hippodrome Theatre and Bo Diddley Plaza among the surrounding landmarks. The setting combines an established urban environment with pedestrian-oriented development standards.
Key Highlights
- 1,835‑square‑foot historic Robb House
- Current headquarters of the Alachua County Medical Society and home of the Robb House Medical Museum
- DT zoning permits office, retail, residential, and mixed‑use development
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
$22,890
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
5.74%
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%
$457,800
$457.8K
Cap Rate 7%
$327,000
$327.0K
Cap Rate 9%
$254,333
$254.3K
Market Conditions
NOI Build-Up for 1,835 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
$36.3K $19.80/SF
− Vacancy
−$5.8K −$3.17/SF
EGI
$30.5K $16.63/SF
− OpEx
−$7.6K −$4.16/SF
NOI
$22.9K $12.47/SF
Area
Gainesville, FL
Vacancy
16.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$457,800
Cap Rate 7%
$327,000
Cap Rate 9%
$254,333
Alternative Uses
Best Use
Office B
$327.0K
$286.1K – $381.5K
NOI $22,890 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$454.5K
$397.7K – $530.2K
NOI $31,814 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,569
Businesses Nearby
Explore this area
Business Placement
Demographics for 32601, FL
22,039
Population
11,204
Households
2
Avg Household Size
27
Median Age
62%
College-Educated
97%
High-School Grad
4.6 sq mi
ZIP Area
4,791
Density / Sq Mi
$30,878
Median Household Income
$18,954
Median Earnings
$1,092
Median Rent
$284,200
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.
Frequently Asked Questions
What type of property is this?
Office building - DT zoning supports office, retail, residential, and mixed-use development with pedestrian-oriented design standards.
Where is this office building located?
The property is located at 235 SW 2nd Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,835‑square‑foot historic Robb House; Current headquarters of the Alachua County Medical Society and home of the Robb House Medical Museum; DT zoning permits office, retail, residential, and mixed‑use development
