Office Unit with Conference
For Sale
$515,000
3721 NW 40th Ter, Gainesville, FL 32606
Built-out workspace includes private offices, a kitchen, dedicated server cooling, and multiple restrooms.
Property Size2,593 SF
Price / SF$198.61
Days on Market196
Property Features for 3721 NW 40th Ter
General Information
Standard status
Active
Size
2,593 SF
Class
B
Property subtype
Multi Tenant Office
Amenities
reception area
individual offices
large conference room
open work area with high vaulted ceiling and lots of natural light
full kitchen
server room with dedicated AC
three restrooms
Building Details
Building Size
2,593 SF
Properties For Sale
at 3721 NW 40th Ter Contact us- Size
- 2,593 SF
- Lease Type
- Modified Gross
Suite B
Listing Agency:
Avison Young - Florida
Listed By:
Rick Cain · License #SL3127464
(352) 505-7588
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 10:11PM
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 Avison Young - Florida
Investment Insights
Based on property information with market context.
This 2,593-square-foot office unit is configured for professional operations, with a reception area, private offices, a conference room, and an open work zone beneath a high vaulted ceiling. The space also includes a full kitchen, three restrooms, and a server room with dedicated air conditioning. Custom construction and abundant natural light add practical functionality to the interior.
The property is located within MetroCorp Office Park near the intersection of NW 43rd Street and NW 39th Avenue in Gainesville. Restaurants and multiple financial-service businesses are situated in the surrounding area, providing nearby commercial services for occupants and visitors.
The property is located within MetroCorp Office Park near the intersection of NW 43rd Street and NW 39th Avenue in Gainesville. Restaurants and multiple financial-service businesses are situated in the surrounding area, providing nearby commercial services for occupants and visitors.
Key Highlights
- 2,593 SF office unit in MetroCorp Office Park
- Reception area, private offices, conference room, and open work area
- High vaulted ceiling with abundant natural light
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
$32,345
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
6.28%
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%
$646,900
$646.9K
Cap Rate 7%
$462,071
$462.1K
Cap Rate 9%
$359,389
$359.4K
Market Conditions
NOI Build-Up for 2,593 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
$51.3K $19.80/SF
− Vacancy
−$8.2K −$3.17/SF
EGI
$43.1K $16.63/SF
− OpEx
−$10.8K −$4.16/SF
NOI
$32.3K $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%
$646,900
Cap Rate 7%
$462,071
Cap Rate 9%
$359,389
Alternative Uses
Best Use
Office B
$462.1K
$404.3K – $539.1K
NOI $32,345 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$642.2K
$562.0K – $749.3K
NOI $44,956 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
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 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 units - Built-out workspace includes private offices, a kitchen, dedicated server cooling, and multiple restrooms.
Where is this office units located?
The property is located at 3721 NW 40th Ter Gainesville, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: 2,593 SF office unit in MetroCorp Office Park; Reception area, private offices, conference room, and open work area; High vaulted ceiling with abundant natural light
