Bristol Park Office Building For
For Sale
$1,230,000
4703 NW 53rd Avenue, Gainesville, FL 32606
Professional office building in Bristol Park, ideal for owner-user.
Property Size8,023 SF
Price / SF$153.31
Days on Market176
Property Features for 4703 NW 53rd Avenue
General Information
Standard status
Active
Size
8,023 SF
Property subtype
Office
Building Details
Year Built
2001
Listing Agency:
Colliers | Gainesville
(352) 420-9889
Listed By:
Dan Drotos, MSRE, CCIM, SIOR · License #FL #BK3255693
Source:
Lee-associates
Added: Mar 4
Changed: Jul 6
Last Checked: Aug 26 at 6:33AM
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 Colliers | Gainesville
Investment Insights
Based on property information with market context.
This 8,023± SF professional office building is located off Millhopper Road (NW 53rd Avenue) in the well-maintained Bristol Park Executive Office Park, adjacent to Hunter’s Crossing Shopping Center with Publix. Constructed in 2001 and remodeled in 2017, the stand-alone building features a low-maintenance brick exterior. The interiors have fresh paint and new carpeting throughout most of the building. The property contains 8 suites, offering space options for owner use and/or tenants. It is located 3 miles from US HWY 441 and 4.7 miles from I-75. Ample parking is available. The property is zoned PD (Planned Development) and is identified by Tax Parcel #06053-090-051. The building is suitable for an owner-user or investor. It is convenient to restaurants and well-known retail.
Key Highlights
- 8,023± SF stand‑alone professional office building ideal for owner‑user or investor.
- Located in the well‑maintained Bristol Park Executive Office Park, adjacent to Hunter’s Crossing Shopping Center.
- Total of 8 suites offering flexible space options.
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
$100,079
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
8.14%
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%
$2,001,580
$2.0M
Cap Rate 7%
$1,429,700
$1.4M
Cap Rate 9%
$1,111,989
$1.1M
Market Conditions
NOI Build-Up for 8,023 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
$158.9K $19.80/SF
− Vacancy
−$25.4K −$3.17/SF
EGI
$133.4K $16.63/SF
− OpEx
−$33.4K −$4.16/SF
NOI
$100.1K $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%
$2,001,580
Cap Rate 7%
$1,429,700
Cap Rate 9%
$1,111,989
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,079 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,100 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
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 building - Professional office building in Bristol Park, ideal for owner-user.
Where is this office building located?
The property is located at 4703 NW 53rd Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $1,230,000.
What are key features of this property?
This property features: 8,023± SF stand‑alone professional office building ideal for owner‑user or investor.; Located in the well‑maintained Bristol Park Executive Office Park, adjacent to Hunter’s Crossing Shopping Center.; Total of 8 suites offering flexible space options.
