Multi-Use Retail Suite with Two
For Sale
Contact for pricing
2441 Northwest 43rd St, Gainesville, FL 32606
Retail suite in Thornebrook Village with two entry points, renovated interior, and private restroom plus shower.
Property Size3,100 SF
Price / SF$158.03
Days on Market163
Property Features for 2441 Northwest 43rd St
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Retail
Zoning
MU2
Lease Type
Gross
Building Details
Year Built
1984
Year Renovated
2020
Units
1
Listing Agency:
Lee & Associates Gainesville
Listed By:
Ken Mears · License #FL SL3273401
(352) 505-9597
Source:
Crexi
Added: Mar 27
Changed: Sep 2
Last Checked: Sep 2 at 6:16AM
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 Lee & Associates Gainesville
Investment Insights
Based on property information with market context.
Located in Thornebrook Village, this 3,100± SF retail suite is set up with a functional, open layout designed to support a range of configurations and tenant buildouts. The suite includes two separate entry points to facilitate customer access and day-to-day operations, as well as a private restroom and a separate shower.
Recent improvements include a renovated interior, HVAC system replacement in 2020, and a remodeled bathroom with upgraded fixtures. The property is zoned MU-2, which allows for a variety of retail and commercial uses, making it suitable for adaptable business needs.
With updated mechanicals and a flexible interior plan, the space offers a practical base for users looking to customize the layout to their operations.
Recent improvements include a renovated interior, HVAC system replacement in 2020, and a remodeled bathroom with upgraded fixtures. The property is zoned MU-2, which allows for a variety of retail and commercial uses, making it suitable for adaptable business needs.
With updated mechanicals and a flexible interior plan, the space offers a practical base for users looking to customize the layout to their operations.
Key Highlights
- 3,100± SF retail suite in Thornebrook Village, with an open, functional layout for multiple configurations and tenant buildouts
- Two separate entry points for customer access and staff operations
- Private restroom plus a separate shower
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
$32,869
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
6.71%
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%
$657,380
$657.4K
Cap Rate 7%
$469,557
$469.6K
Cap Rate 9%
$365,211
$365.2K
Market Conditions
NOI Build-Up for 3,100 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
$50.2K $16.20/SF
− Vacancy
−$3.3K −$1.05/SF
EGI
$47.0K $15.15/SF
− OpEx
−$14.1K −$4.54/SF
NOI
$32.9K $10.60/SF
Area
Gainesville, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$657,380
Cap Rate 7%
$469,557
Cap Rate 9%
$365,211
Alternative Uses
Best Use
Retail
$469.6K
$410.9K – $547.8K
NOI $32,869 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$767.8K
$671.8K – $895.8K
NOI $53,747 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,192
Businesses Nearby
154k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Dining 30%
Shops & Services 28%
Beauty & Spa 3%
Publix
Groceries
41,969 visits/mo
0.3 miles
Circle K
Shops & Services
18,774 visits/mo
0.3 miles
The Fresh Market
Groceries
18,232 visits/mo
0.2 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
12,793 visits/mo
0.1 miles
The Flying Biscuit Cafe
Dining
8,406 visits/mo
0.1 miles
Demographics for 32606, FL
24,380
Population
11,230
Households
2.2
Avg Household Size
40
Median Age
60%
College-Educated
98%
High-School Grad
15.4 sq mi
ZIP Area
1,583
Density / Sq Mi
$79,888
Median Household Income
$49,153
Median Earnings
$1,664
Median Rent
$319,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail suite in Thornebrook Village with two entry points, renovated interior, and private restroom plus shower.
Where is this retail space located?
The property is located at 2441 Northwest 43rd St Gainesville, FL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 3,100± SF retail suite in Thornebrook Village, with an open, functional layout for multiple configurations and tenant buildouts; Two separate entry points for customer access and staff operations; Private restroom plus a separate shower
