Office/Warehouse Flex
For Sale
$374,500
3708 97TH BOULEVARD, Gainesville, FL 32606
Office/warehouse in a business park with HOA covering roof, common area maintenance, and water.
Property Size2,400 SF
Price / SF$156.04
Days on Market226
Property Features for 3708 97TH BOULEVARD
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Industrial
Zoning
BH
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,816
Amenities
Central Air, A/C - Other
3
City Road, Paved Road.
Building Details
Year Built
1987
Listing Agency:
FREEMAN REALTY INC
(352) 371-2622
Listed By:
Carolyne Freeman · License #0594376
Source:
Xome
Added: Dec 29, 2025
Changed: Aug 7
Last Checked: Aug 11 at 5:25AM
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 FREEMAN REALTY INC
Investment Insights
Based on property information with market context.
This office/warehouse flex space is located within the 75 West Business Park. The property is described as having BH zoning, with the public remarks noting possibilities including martial arts, dance, yoga, church, or general office/warehouse business use. An HOA fee is also part of the offering, with the remarks stating that it includes roof, common area maintenance, and water.
The location is just off I-75 and NW 39th Avenue, providing convenient regional access.
For investors or owner-occupants seeking a combined work-and-storage configuration, the property’s office/warehouse setup and zoning flexibility are intended to support multiple business formats as described in the remarks.
The location is just off I-75 and NW 39th Avenue, providing convenient regional access.
For investors or owner-occupants seeking a combined work-and-storage configuration, the property’s office/warehouse setup and zoning flexibility are intended to support multiple business formats as described in the remarks.
Key Highlights
- Office/warehouse located in a 75 West Business Park, just off I‑75 and NW 39th Avenue
- HOA fee includes roof, common area maintenance, and water
- Year built: 1987
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
$22,511
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
6.01%
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%
$450,220
$450.2K
Cap Rate 7%
$321,586
$321.6K
Cap Rate 9%
$250,122
$250.1K
Market Conditions
NOI Build-Up for 2,400 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
$37.4K $15.60/SF
− Vacancy
−$2.8K −$1.17/SF
EGI
$34.6K $14.43/SF
− OpEx
−$12.1K −$5.05/SF
NOI
$22.5K $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 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%
$450,220
Cap Rate 7%
$321,586
Cap Rate 9%
$250,122
Alternative Uses
Best Use
Flex RnD
$321.6K
$281.4K – $375.2K
NOI $22,511 @ 7.0% cap · market cap 6.01%
Second Best
Warehouse
$250.5K
$219.2K – $292.2K
NOI $17,534 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$594.4K
$520.1K – $693.5K
NOI $41,610 @ 7.0% cap · market cap 11.11%
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
373
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Alonzos Bakery And Bites — 8722 NW 35th Ln #8722Nw, Gainesville, FL 32606
- Lamar’s Lux Catering Services — 9200 NW 39th Ave Suite 130, Gainesville, FL 32606
Frequently Asked Questions
What type of property is this?
Flex space - Office/warehouse in a business park with HOA covering roof, common area maintenance, and water.
Where is this flex space located?
The property is located at 3708 97TH BOULEVARD Gainesville, FL.
What is the asking price?
The asking price for this property is $374,500.
What are key features of this property?
This property features: Office/warehouse located in a 75 West Business Park, just off I‑75 and NW 39th Avenue; HOA fee includes roof, common area maintenance, and water; Year built: 1987
