Flex Space with Fenced
New
For Sale
$975,000
2720 NE 20TH Way, Gainesville, FL 32609
Commercial Sale, GAINESVILLE, FL
Property Size3,705 SF
Lot Size1.51 Acres
Price / SF$263.16
Days on Market2
Property Features for 2720 NE 20TH Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I2
Subdivision
EDWARDS HUGH INDUST CENTER
Directions
From NE Waldo Road, turn west onto NE 23rd Avenue. Continue west and turn right onto NE 19th Drive. Head north and turn right onto NE 27th Avenue. Continue east to NE 20th Way. The property is located on the northwest corner of NE 27th Avenue and NE 20th Way.
Standard status
Active
APN
08199-117-000
Size
3,705 SF
Lot size
1.51 Acres
Additional Details
Property Use
Industrial
Taxes and HOA fees
Tax Year
2025
Tax Description
HUGH EDWARDS IND CENTER PB E-41 LOT 117 OR 4160/0943
Tax Annual Amount
2758
Legal Description
HUGH EDWARDS IND CENTER PB E-41 LOT 117 OR 4160/0943
Utilities
Cooling system
Window Unit(s), Wall/Window Unit(s)
Building Details
Year built
1958
Building materials
Concrete
Buildings
2
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS · Coldwell Banker Real Estate
(352) 335-4999
Listed By:
Brayden Wester
(352) 318-5744
Added: Nov 4
Changed: Nov 5
Last Checked: Nov 5 at 11:06PM
MLS# GC544616
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex property comprises two buildings on three adjoining parcels totaling 1.51 acres. The improvements include a standalone office building and a separate office/warehouse building. Part of the larger building is unfinished shell space undergoing renovation for office use. A fenced yard provides room for equipment storage, vehicle parking, and outdoor operations. The property was built in 1958 and carries I2 industrial zoning.
The site is in the Hugh Edwards Industrial Park in northeast Gainesville, just north of NE 23rd Avenue. Waldo Road, Gainesville Regional Airport, and nearby industrial corridors are identified as access and area references.
The site is in the Hugh Edwards Industrial Park in northeast Gainesville, just north of NE 23rd Avenue. Waldo Road, Gainesville Regional Airport, and nearby industrial corridors are identified as access and area references.
Key Highlights
- 1.51 acres across three contiguous parcels
- Two buildings: one office building and one office/warehouse building
- Fenced yard for equipment storage, vehicle parking, and outdoor operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,751
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$695,020
$695.0K
Cap Rate 7%
$496,443
$496.4K
Cap Rate 9%
$386,122
$386.1K
Market Conditions
NOI Build-Up for 3,705 SF
Gross rent
$57.8K $15.60/SF
− Vacancy
−$4.3K −$1.17/SF
EGI
$53.5K $14.43/SF
− OpEx
−$18.7K −$5.05/SF
NOI
$34.8K $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%
$695,020
Cap Rate 7%
$496,443
Cap Rate 9%
$386,122
Alternative Uses
Best Use
Flex RnD
$496.4K
$434.4K – $579.2K
NOI $34,751 @ 7.0% cap · market cap 3.56%
Second Best
Warehouse
$386.7K
$338.4K – $451.1K
NOI $27,068 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$917.7K
$803.0K – $1.07M
NOI $64,236 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
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 industrial functionality and outdoor storage space.
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: 1.51 acres across three contiguous parcels; Two buildings: one office building and one office/warehouse building; Fenced yard for equipment storage, vehicle parking, and outdoor operations
