Custom Office
For Sale
$405,000
4110 NW 37TH PLACE #A, Gainesville, FL 32606
Built in 2007, this office condominium features custom-designed fixtures and finishes.
Property Size1,944 SF
Days on Market145
Property Features for 4110 NW 37TH PLACE #A
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Commercial
Zoning
PD
Taxes and HOA fees
Annual Taxes
$6,281
Amenities
sidewalks
Building Details
Building Size
1,944 SF
Year Built
2007
Stories
1
Listing Agency:
WATSON REALTY CORP
(352) 665-7487
Listed By:
Lee Crane
(352) 665-7487
Source:
Mbifloridarealty
Added: Apr 7
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 WATSON REALTY CORP
Investment Insights
Based on property information with market context.
This office condominium was completed in 2007 and includes custom-designed fixtures and interior finishes. The property has remained with its original owner, who has meticulously maintained the space. Sidewalks are also identified among the property features.
The reported traffic count is 29,500 cars per day. The property is designated PD for zoning purposes. Furniture is available for negotiation as part of the transaction.
The reported traffic count is 29,500 cars per day. The property is designated PD for zoning purposes. Furniture is available for negotiation as part of the transaction.
Key Highlights
- Office condominium completed in 2007
- Custom‑designed fixtures and interior finishes
- Original‑owner property that has been meticulously maintained
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
$24,249
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
5.99%
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%
$484,980
$485.0K
Cap Rate 7%
$346,414
$346.4K
Cap Rate 9%
$269,433
$269.4K
Market Conditions
NOI Build-Up for 1,944 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
$38.5K $19.80/SF
− Vacancy
−$6.2K −$3.17/SF
EGI
$32.3K $16.63/SF
− OpEx
−$8.1K −$4.16/SF
NOI
$24.2K $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%
$484,980
Cap Rate 7%
$346,414
Cap Rate 9%
$269,433
Alternative Uses
Best Use
Office B
$346.4K
$303.1K – $404.2K
NOI $24,249 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.5K
$421.3K – $561.7K
NOI $33,704 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
706
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
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Frequently Asked Questions
What type of property is this?
Office units - Built in 2007, this office condominium features custom-designed fixtures and finishes.
Where is this office units located?
The property is located at 4110 NW 37TH PLACE #A Gainesville, FL.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: Office condominium completed in 2007; Custom‑designed fixtures and interior finishes; Original‑owner property that has been meticulously maintained
