Gainesville Office Building For
For Sale
$16,900,000
2970 SW 50th Ter, Gainesville, FL 32608
65,260 SF custom-built office building in Celebration Pointe.
Property Size65,260 SF
Lot Size0.84 Acres
Price / SF$258.96
Days on Market176
Property Features for 2970 SW 50th Ter
General Information
Standard status
Active
Size
65,260 SF
Class
A
Lot size
0.84 Acres
Property subtype
Office
Building Details
Building Size
65,260 SF
Year Built
2017
Listing Agency:
(352) 420-9889
Listed By:
Dan Drotos, MSRE, CCIM, SIOR · License #FL #BK3255693
Source:
Lee-associates
Added: Mar 4
Changed: Aug 17
Last Checked: Aug 26 at 6:30AM
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 Dan Drotos, MSRE, CCIM, SIOR
Investment Insights
Based on property information with market context.
Located in Celebration Pointe, Gainesville, Florida, the property at 2970 SW 50th Terrace is a 65,260± square foot custom-built office building situated on 0.84± acres. This three-story building offers a combination of modern design, functionality, and sustainability. The building features floor-to-ceiling windows and a third-floor terrace that provides views of Celebration Pointe and the surrounding Florida landscape. The property has walkable access to entertainment, restaurants, shopping and personal services. It also features a sound masking system throughout the building, a state-of-the-art digital room scheduling system, and controlled access entry. A rooftop solar array produces 20% of the building's electricity. The property includes 2,400± SF of green roof. The landscaping consists of Florida-friendly, drought-tolerant plants. Protected land is located directly behind the building. Low or no VOC paint and flooring adhesives were used in construction. On-building signage is available. Ample parking is provided by adjacent parking garages. Furniture is included with the sale. The building has easy access to I-75, Archer Road and Butler Plaza Development. The building has LEED Gold Certification and zoned HVAC.
Key Highlights
- Prime location in Celebration Pointe with walkable access to entertainment, restaurants, shopping, and personal services.
- 65,260± SF, three‑story custom‑built office building with modern design, functionality, and sustainability.
- LEED Gold Certification, demonstrating commitment to environmental responsibility.
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
$814,053
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
4.82%
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%
$16,281,060
$16.3M
Cap Rate 7%
$11,629,329
$11.6M
Cap Rate 9%
$9,045,033
$9.0M
Market Conditions
NOI Build-Up for 65,260 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
$1.29M $19.80/SF
− Vacancy
−$206.7K −$3.17/SF
EGI
$1.09M $16.63/SF
− OpEx
−$271.4K −$4.16/SF
NOI
$814.1K $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%
$16,281,060
Cap Rate 7%
$11,629,329
Cap Rate 9%
$9,045,033
Alternative Uses
Best Use
Office B
$11.63M
$10.18M – $13.57M
NOI $814,053 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$16.16M
$14.14M – $18.86M
NOI $1,131,452 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 32608, FL
55,540
Population
25,939
Households
2.1
Avg Household Size
29
Median Age
58%
College-Educated
95%
High-School Grad
44.5 sq mi
ZIP Area
1,248
Density / Sq Mi
$60,182
Median Household Income
$34,991
Median Earnings
$1,357
Median Rent
$340,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 65,260 SF custom-built office building in Celebration Pointe.
Where is this office building located?
The property is located at 2970 SW 50th Ter Gainesville, FL.
What is the asking price?
The asking price for this property is $16,900,000.
What are key features of this property?
This property features: Prime location in Celebration Pointe with walkable access to entertainment, restaurants, shopping, and personal services.; 65,260± SF, three‑story custom‑built office building with modern design, functionality, and sustainability.; LEED Gold Certification, demonstrating commitment to environmental responsibility.
