Freestanding Office
For Sale
$350,000
Pending
304 NE 1ST Street, Chiefland, FL 32626
Commercial Sale, CHIEFLAND, FL
Property Size2,339 SF
Lot Size0.27 Acres
Days on Market62
Property Features for 304 NE 1ST Street
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
CHIEFLAND
Directions
If you're traveling northbound or southbound on I-75, Take Exit 399 for US 441 North toward Alachua and continue on US-441 North for approximately 18 miles to High Springs then turn left onto US 27 West US-41 North toward Chiefland. Stay on US 27 West for approximately 35 miles until you reach Chiefland once you arrive to downtown Chiefland, turn right onto N Main Street US 19 then turn left onto NE 3rd Avenue. 304 NE 1st Street will be on your left, just one block from downtown.
Standard status
Pending
APN
06979-001-00
Size
2,339 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
36-11-14 CHIEFLAND BLK 16 LOTS 6 & 8 & E1/2 OF VAC ALLEYWAY OR BOOK 1772 PAGE 297
Tax Annual Amount
4785
Legal Description
36-11-14 CHIEFLAND BLK 16 LOTS 6 & 8 & E1/2 OF VAC ALLEYWAY OR BOOK 1772 PAGE 297
Utilities
Cooling system
Central Air
Building Details
Year built
1965
Building materials
Block, Concrete
Listing Agency:
COLDWELL BANKER ELLISON REALTY O · Coldwell Banker Real Estate
(352) 732-8350
Listed By:
Jennifer Arango · License #3556966
(407) 744-8180
Added: Jul 8
Changed: Sep 1
Last Checked: Sep 7 at 5:06PM
MLS# OM728209
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.
Investment Insights
Based on property information with market context.
This 2,339-square-foot office building in Chiefland contains five private offices and 1.5 bathrooms within a flexible commercial layout. Constructed in 1965 with block and concrete materials, the property has central air conditioning, newly installed fencing, and private parking spaces.
The building occupies a 0.27-acre corner lot at 304 NE 1st Street, approximately one block from downtown Chiefland. Its setting provides access to nearby businesses, restaurants, shopping, and major highways, with the downtown business district within close walking distance.
The building occupies a 0.27-acre corner lot at 304 NE 1st Street, approximately one block from downtown Chiefland. Its setting provides access to nearby businesses, restaurants, shopping, and major highways, with the downtown business district within close walking distance.
Key Highlights
- 2,339‑square‑foot office building on a 0.27‑acre corner lot
- Five private offices and 1.5 bathrooms
- Block and concrete construction dating to 1965
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
365
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Corner-lot office property with private parking, central air, and a layout suited to professional business operations.
Where is this office building located?
The property is located at 304 NE 1ST Street 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 on a 0.27‑acre corner lot; Five private offices and 1.5 bathrooms; Block and concrete construction dating to 1965
