Flex Space with Fenced
2720 NE 20TH WAY, Gainesville, FL 32609
For Sale
New
$975,000
Two buildings combine office areas with warehouse space and a secured outdoor yard for equipment or vehicles.
Property Size5,150 SF
Lot Size1.51 Acres
Price / SF$189.32
Days on Market6
Property Features for 2720 NE 20TH WAY
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Road Access
Fenced Yard
Outdoor Storage
Additional Details
Office Build-Out
Property Use
Building Details
Year Built
Buildings
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS
(352) 335-4999
Listed By:
Brayden Wester · License #3651580
(352) 318-5744
Source:
Dennisrealty
Added: Nov 4
Changed: Nov 8
Last Checked: Nov 8 at 6:32AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises two buildings totaling 5,150 square feet on approximately 1.51 acres across three contiguous parcels. One building contains 1,309 square feet of office space; the second is a 3,841-square-foot office/warehouse building. Within the larger structure, 2,396 square feet is shell space with renovations in progress for office use. A fenced yard provides outdoor area for storage and operations, and the site has I-2 industrial zoning and corner exposure.
Located in Hugh Edwards Industrial Park in Gainesville, the property is just north of NE 23rd Avenue, with access to Waldo Road, Gainesville Regional Airport, and nearby industrial corridors. The improvements include a mix of office, warehouse, and yard space.
Located in Hugh Edwards Industrial Park in Gainesville, the property is just north of NE 23rd Avenue, with access to Waldo Road, Gainesville Regional Airport, and nearby industrial corridors. The improvements include a mix of office, warehouse, and yard space.
Key Highlights
- Two buildings totaling 5,150 SF on approximately 1.51 acres across three contiguous parcels
- 3,841 SF office/warehouse building includes 2,396 SF of shell area undergoing renovation
- Separate 1,309 SF office building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,304
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,080
$966.1K
Cap Rate 7%
$690,057
$690.1K
Cap Rate 9%
$536,711
$536.7K
Market Conditions
NOI Build-Up for 5,150 SF
Gross rent
$80.3K $15.60/SF
− Vacancy
−$6.0K −$1.17/SF
EGI
$74.3K $14.43/SF
− OpEx
−$26.0K −$5.05/SF
NOI
$48.3K $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 Rate 5%
$966,080
Cap Rate 7%
$690,057
Cap Rate 9%
$536,711
Alternative Uses
Best Use
Flex RnD
$690.1K
$603.8K – $805.1K
NOI $48,304 @ 7.0% cap · market cap 4.95%
Second Best
Warehouse
$537.5K
$470.3K – $627.1K
NOI $37,625 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,289 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Under-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
$174,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Flex space in Gainesville, FL
Properties on Market for Flex space in Gainesville
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Hill's Bar-b-que & Catering — 2626 NE 39th Ave, Gainesville, FL 32609
Frequently Asked Questions
What type of property is this?
Flex space - Two buildings combine office areas with warehouse space and a secured outdoor yard for equipment or vehicles.
Where is this flex space located?
The property is located at 2720 NE 20TH WAY Gainesville, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two buildings totaling 5,150 SF on approximately 1.51 acres across three contiguous parcels; 3,841 SF office/warehouse building includes 2,396 SF of shell area undergoing renovation; Separate 1,309 SF office building
