Medical Office Building with 8 Exam
For Sale
Contact for pricing
4741 Northwest 8th Avenue, Gainesville, FL 32605
Configured with 8 exam rooms, private offices, and a spacious waiting and reception area.
Property Size4,626 SF
Price / SF$140.51
Days on Market42
Property Features for 4741 Northwest 8th Avenue
General Information
Standard status
Active
Size
4,626 SF
Class
B
Property subtype
Office
Zoning
CP
Building Details
Year Built
2001
Listing Agency:
Lee & Associates Gainesville
Listed By:
Dan Drotos · License #FL 3255693
Source:
Crexi
Added: Jul 29
Changed: Sep 8
Last Checked: Aug 30 at 12:44PM
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 Lee & Associates Gainesville
Investment Insights
Based on property information with market context.
Medical or office space totaling 3,073 square feet, designed around patient and client flow. The layout includes 8 exam rooms, with 4 exam rooms featuring sinks, plus 4 private offices and 3 bathrooms. A spacious waiting room and reception area supports front-desk operations.
The property is located on NW 8th Ave in Gainesville, FL, on a high-visibility site with strong pedestrian traffic and excellent signage opportunities. It is conveniently positioned near North Florida Hospital, The Oaks Mall, and major medical and retail centers.
A natural lot setting includes a creek area, offering a quieter environment for staff and clients. The configuration fits medical, dental, wellness, and professional office use.
The property is located on NW 8th Ave in Gainesville, FL, on a high-visibility site with strong pedestrian traffic and excellent signage opportunities. It is conveniently positioned near North Florida Hospital, The Oaks Mall, and major medical and retail centers.
A natural lot setting includes a creek area, offering a quieter environment for staff and clients. The configuration fits medical, dental, wellness, and professional office use.
Key Highlights
- 3,073 square feet of medical or office space
- 8 exam rooms, including 4 with sinks
- 4 private offices plus a spacious waiting room and reception area
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
$58,221
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
8.96%
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%
$1,164,420
$1.2M
Cap Rate 7%
$831,729
$831.7K
Cap Rate 9%
$646,900
$646.9K
Market Conditions
NOI Build-Up for 4,626 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
$105.5K $22.80/SF
− Vacancy
−$8.4K −$1.82/SF
EGI
$97.0K $20.98/SF
− OpEx
−$38.8K −$8.39/SF
NOI
$58.2K $12.59/SF
Area
Gainesville, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$1,164,420
Cap Rate 7%
$831,729
Cap Rate 9%
$646,900
Alternative Uses
Best Use
Healthcare Medical
$831.7K
$727.8K – $970.4K
NOI $58,221 @ 7.0% cap · market cap 8.96%
Second Best
Office B
$824.4K
$721.3K – $961.8K
NOI $57,705 @ 7.0% cap · market cap 8.88%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,204 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,117
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32605, FL
24,326
Population
11,651
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
9.8 sq mi
ZIP Area
2,482
Density / Sq Mi
$83,114
Median Household Income
$48,741
Median Earnings
$1,505
Median Rent
$264,700
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?
Medical Office Space - Configured with 8 exam rooms, private offices, and a spacious waiting and reception area.
Where is this medical office space located?
The property is located at 4741 Northwest 8th Avenue Gainesville, FL.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: 3,073 square feet of medical or office space; 8 exam rooms, including 4 with sinks; 4 private offices plus a spacious waiting room and reception area
