Industrial Warehouse with Loading
For Sale
$4,900,000
2708 NE Waldo Rd, Gainesville, FL 32609
Versatile warehouse and flex space with secured access, office improvements, and a dedicated laydown yard.
Property Size58,000 SF
Lot Size6.30 Acres
Price / SF$84.48
Days on Market196
Property Features for 2708 NE Waldo Rd
General Information
Standard status
Active
Size
58,000 SF
Class
B
Lot size
6.30 Acres
Property subtype
Warehouse
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Three-Phase Power
Yes
Sprinkler System
Yes
Building Details
Building Size
58,000 SF
Year Built
1975
Listing Agency:
Avison Young - Florida
Listed By:
Rick Cain · License #SL3127464
(352) 505-7588
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:45PM
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 Avison Young - Florida
Investment Insights
Based on property information with market context.
This warehouse property combines 58,000+ SF of industrial, flex, and storage space across 6.3 acres. Improvements include renovated offices, a kitchen and break room, restrooms, roll-up doors, and twelve individual 1,000 SF bays. A 147-foot graded loading dock includes a covered platform and ramp, while the paved parking field, secured entry, privacy fencing, and laydown yard support operational flexibility.
The property fronts Waldo Road, a north-south corridor carrying 29,000 AADT, and includes a curb cut along with building and monument signage. Gainesville Regional Airport is located half a mile north. Infrastructure includes three-phase power and a fully sprinkled building.
The property fronts Waldo Road, a north-south corridor carrying 29,000 AADT, and includes a curb cut along with building and monument signage. Gainesville Regional Airport is located half a mile north. Infrastructure includes three-phase power and a fully sprinkled building.
Key Highlights
- 58,000+ SF industrial, flex, and warehouse space on 6.3 acres
- 147’ graded loading dock with covered platform and ramp
- Twelve 1,000 SF individual bays
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
$423,734
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
8.65%
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%
$8,474,680
$8.5M
Cap Rate 7%
$6,053,343
$6.1M
Cap Rate 9%
$4,708,156
$4.7M
Market Conditions
NOI Build-Up for 58,000 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
$522.0K $9.00/SF
− Vacancy
−$23.5K −$0.41/SF
EGI
$498.5K $8.59/SF
− OpEx
−$74.8K −$1.29/SF
NOI
$423.7K $7.31/SF
Area
Gainesville, FL
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$8,474,680
Cap Rate 7%
$6,053,343
Cap Rate 9%
$4,708,156
Alternative Uses
Best Use
Flex RnD
$7.77M
$6.80M – $9.07M
NOI $544,011 @ 7.0% cap · market cap 11.10%
Second Best
Warehouse
$6.05M
$5.30M – $7.06M
NOI $423,734 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$14.37M
$12.57M – $16.76M
NOI $1,005,581 @ 7.0% cap · market cap 20.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Versatile warehouse and flex space with secured access, office improvements, and a dedicated laydown yard.
Where is this warehouse located?
The property is located at 2708 NE Waldo Rd Gainesville, FL.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 58,000+ SF industrial, flex, and warehouse space on 6.3 acres; 147’ graded loading dock with covered platform and ramp; Twelve 1,000 SF individual bays
