Corner Office
For Sale
$350,000
Pending
304 NE 1st St, Chiefland, FL 32626
Five private offices, private parking, and new fencing support a flexible professional workspace.
Property Size2,339 SF
Days on Market26
Property Features for 304 NE 1st St
General Information
Standard status
Pending
Size
2,339 SF
Additional Details
Highway Access
Yes
Amenities
newly installed fencing
Building Details
Year Built
1965
Buildings
1
Building Size
2,339 SF
Listing Agency:
COLDWELL BANKER ELLISON REALTY O
(407) 744-8180
Listed By:
Jennifer Arango · License #3556966
Source:
Flflourish
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 29 at 12:06PM
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 ELLISON REALTY O
Investment Insights
Based on property information with market context.
This office property contains 2,339 square feet arranged around five private offices and 1.5 bathrooms. The interior layout is described as flexible, providing a practical setting for professional business operations. The building was constructed in 1965 and includes private parking areas.
Positioned on a corner lot, the property benefits from recently installed fencing and a location one block from downtown Chiefland. Local businesses, restaurants, shopping, and major highways are accessible from the site, placing the office near the community’s central commercial activity.
Positioned on a corner lot, the property benefits from recently installed fencing and a location one block from downtown Chiefland. Local businesses, restaurants, shopping, and major highways are accessible from the site, placing the office near the community’s central commercial activity.
Key Highlights
- 2,339‑square‑foot office building
- Five private offices and 1.5 bathrooms
- Flexible interior layout
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
$29,177
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
8.34%
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%
$583,540
$583.5K
Cap Rate 7%
$416,814
$416.8K
Cap Rate 9%
$324,189
$324.2K
Market Conditions
NOI Build-Up for 2,339 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
$46.3K $19.80/SF
− Vacancy
−$7.4K −$3.17/SF
EGI
$38.9K $16.63/SF
− OpEx
−$9.7K −$4.16/SF
NOI
$29.2K $12.47/SF
Area
Levy County, 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%
$583,540
Cap Rate 7%
$416,814
Cap Rate 9%
$324,189
Alternative Uses
Best Use
Office B
$416.8K
$364.7K – $486.3K
NOI $29,177 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$579.3K
$506.9K – $675.9K
NOI $40,553 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
Demographics for 32626, FL
8,620
Population
4,358
Households
2
Avg Household Size
47
Median Age
13%
College-Educated
89%
High-School Grad
243.6 sq mi
ZIP Area
35
Density / Sq Mi
$49,643
Median Household Income
$34,057
Median Earnings
$844
Median Rent
$160,900
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 building - Five private offices, private parking, and new fencing support a flexible professional workspace.
Where is this office building located?
The property is located at 304 NE 1st St Chiefland, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,339‑square‑foot office building; Five private offices and 1.5 bathrooms; Flexible interior layout
