Concrete Flex Space with BH
For Sale
$374,500
3708 NW 97TH Boulevard, Gainesville, FL 32606
Commercial Sale, GAINESVILLE, FL
Property Size2,400 SF
Lot Size2.39 Acres
Price / SF$156.04
Days on Market247
Property Features for 3708 NW 97TH Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
BH
Subdivision
75 WEST BUSINESS PARK
Directions
Intersection of I-75 & NW 39th Avenue. Head West on NW 39th Avenue. Turn South (left) on NW 97th Blvd. Building on your right.
Standard status
Active
APN
06233-061-005
Size
2,400 SF
Lot size
2.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
75 WEST BUSINESS PARK OR 1607/401 & OR 1769/0597 BLDG 2 UNIT 5 & UNDIV INT IN COMMON ELEMENTS OR 2800/0454 & OR 5185/655
Tax Annual Amount
3816
Legal Description
75 WEST BUSINESS PARK OR 1607/401 & OR 1769/0597 BLDG 2 UNIT 5 & UNDIV INT IN COMMON ELEMENTS OR 2800/0454 & OR 5185/655
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1987
Building materials
Concrete
Roof type
Metal
Listing Agency:
FREEMAN REALTY INC
(352) 371-2622
Listed By:
Carolyne Freeman · License #0594376
(352) 538-0100
Added: Jan 8
Changed: Sep 12
Last Checked: Sep 12 at 9:06PM
MLS# GC536420
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 2,400-square-foot flex property combines office and warehouse functionality within a concrete building constructed in 1987. Central air, a metal roof, public water, and public sewer are in place. The BH zoning designation supports the stated range of potential uses, including general office or warehouse operations, martial arts, dance, yoga, and church use.
The property is situated in Gainesville near I-75 and NW 39th Avenue. Association services cover the roof, common-area maintenance, and water, providing an established framework for the business park setting.
The property is situated in Gainesville near I-75 and NW 39th Avenue. Association services cover the roof, common-area maintenance, and water, providing an established framework for the business park setting.
Key Highlights
- 2,400‑square‑foot flex space with office and warehouse configuration
- BH zoning supports office, warehouse, martial arts, dance, yoga, and church uses
- Concrete construction with central air and a metal roof
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Central air and concrete construction complement the office and warehouse configuration.
Where is this flex space located?
The property is located at 3708 NW 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: 2,400‑square‑foot flex space with office and warehouse configuration; BH zoning supports office, warehouse, martial arts, dance, yoga, and church uses; Concrete construction with central air and a metal roof
