Updated Office Unit with Private
New
For Sale
$219,000
2731 NW 41ST STREET #B2, Gainesville, FL 32606
Updated suite includes an open work area, reception space, restroom with shower, and storage.
Property Size609 SF
Price / SF$359.61
Days on Market6
Property Features for 2731 NW 41ST STREET #B2
General Information
Standard status
Active
Size
609 SF
Property subtype
Office
Building Details
Year Built
1987
Listing Agency:
BHGRE THOMAS GROUP
(352) 226-8228
Listed By:
Gavin Johnson · License #3287999
Source:
Dennisrealty
Added: Aug 6
Changed: Aug 11
Last Checked: Aug 11 at 5:49AM
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 BHGRE THOMAS GROUP
Investment Insights
Based on property information with market context.
This office unit was updated with a new drop ceiling, flooring, lighting, and interior paint. The 609-size suite includes a private office with a sink and storage, a large open work area, a compact reception area, and a restroom with a shower. Additional storage supports the layout, which also accommodates office, salon suite, and other stated commercial uses.
The property was built in 1987 and is located at 2731 NW 41ST STREET #B2, GAINESVILLE, FL 32606.
The property was built in 1987 and is located at 2731 NW 41ST STREET #B2, GAINESVILLE, FL 32606.
Key Highlights
- Updated with new drop ceiling, flooring, lighting, and paint
- Private office includes a sink and storage
- Large open workspace with a small reception area
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
$7,597
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
3.47%
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%
$151,940
$151.9K
Cap Rate 7%
$108,529
$108.5K
Cap Rate 9%
$84,411
$84.4K
Market Conditions
NOI Build-Up for 609 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
$12.1K $19.80/SF
− Vacancy
−$1.9K −$3.17/SF
EGI
$10.1K $16.63/SF
− OpEx
−$2.5K −$4.16/SF
NOI
$7.6K $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%
$151,940
Cap Rate 7%
$108,529
Cap Rate 9%
$84,411
Alternative Uses
Best Use
Office B
$108.5K
$95.0K – $126.6K
NOI $7,597 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$150.8K
$132.0K – $176.0K
NOI $10,559 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,412
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 units - Updated suite includes an open work area, reception space, restroom with shower, and storage.
Where is this office units located?
The property is located at 2731 NW 41ST STREET #B2 Gainesville, FL.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Updated with new drop ceiling, flooring, lighting, and paint; Private office includes a sink and storage; Large open workspace with a small reception area
