Class A Office
For Sale
$4,830,000
2511 NW 41st St, Gainesville, FL 32606
Professionally designed office building in a prime, walkable location.
Property Size20,183 SF
Lot Size1.99 Acres
Price / SF$239.31
Days on Market176
Property Features for 2511 NW 41st St
General Information
Standard status
Active
Size
20,183 SF
Class
A
Lot size
1.99 Acres
Property subtype
Office
Building Details
Building Size
20,183 SF
Year Built
1995
Listing Agency:
Colliers | Gainesville
(352) 420-9889
Listed By:
Dan Drotos, MSRE, CCIM, SIOR · License #FL #BK3255693
Source:
Lee-associates
Added: Mar 4
Changed: Aug 24
Last Checked: Aug 26 at 5:55AM
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 Colliers | Gainesville
Investment Insights
Based on property information with market context.
This one-story, Class A professional office building is situated on approximately two acres beneath mature oak trees. Located along NW 41st Street, a well-traveled corridor in Gainesville, the property offers accessibility and walkability to public transportation, restaurants, grocery stores, and retail centers. The 20,183 square foot office building is fully leased through late 2027 without renewal options. Interior renovations completed in 2025 include tile flooring, cabinetry, solid surface counters, and new paint. A new roof was installed in 2024. The functional layout features a mix of open workspace and private executive offices, along with two full kitchens, an executive conference room, and a mail/copy center. The property includes a standby generator, access control, CCTV, and a data/server room with fire suppression. High visibility monument signage is located on NW 41st Street. Ample front and rear parking is available, with dual access points and excellent ingress/egress.
Key Highlights
- Fully leased through late 2027, offering immediate income and future flexibility.
- Prime location on NW 41st Street**, walkable to transportation, restaurants, and retail.
- Recent 2025 interior renovations including tile flooring, cabinetry, and new paint.
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
$251,763
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
5.21%
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%
$5,035,260
$5.0M
Cap Rate 7%
$3,596,614
$3.6M
Cap Rate 9%
$2,797,367
$2.8M
Market Conditions
NOI Build-Up for 20,183 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
$399.6K $19.80/SF
− Vacancy
−$63.9K −$3.17/SF
EGI
$335.7K $16.63/SF
− OpEx
−$83.9K −$4.16/SF
NOI
$251.8K $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%
$5,035,260
Cap Rate 7%
$3,596,614
Cap Rate 9%
$2,797,367
Alternative Uses
Best Use
Office B
$3.60M
$3.15M – $4.20M
NOI $251,763 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.00M
$4.37M – $5.83M
NOI $349,925 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,192
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professionally designed office building in a prime, walkable location.
Where is this office building located?
The property is located at 2511 NW 41st St Gainesville, FL.
What is the asking price?
The asking price for this property is $4,830,000.
What are key features of this property?
This property features: Fully leased through late 2027, offering immediate income and future flexibility.; Prime location on NW 41st Street**, walkable to transportation, restaurants, and retail.; Recent 2025 interior renovations including tile flooring, cabinetry, and new paint.
