Williston Professional Office Building
For Sale
$300,000
Pending
510 SW 5TH Ter A, Williston, FL 32696
Well-maintained office building in Williston, currently operating as dental practice.
Property Size1,602 SF
Lot Size0.20 Acres
Days on Market152
Property Features for 510 SW 5TH Ter A
General Information
Standard status
Pending
Size
1,602 SF
Lot size
0.20 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,877
Building Details
Building Size
1,602 SF
Year Built
1966
Listing Agency:
Harriett Downs Real Estate LLC
(352) 538-5551
Listed By:
Marc Pompeo · License #527240
(352) 538-5551
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 2:20PM
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 Harriett Downs Real Estate LLC
Investment Insights
Based on property information with market context.
This professional office building, constructed in 1966, is located in Williston. The concrete block building is currently operating as a dental practice. The layout is fully handicap accessible and includes a waiting room, reception area with custom wood cabinetry and solid-surface countertops, dedicated insurance and file rooms, five treatment rooms, and two bathrooms. Vinyl flooring extends throughout most of the building. The property features ten on-site parking spaces, broadband internet, city water and sewer, and natural gas for heating. The current tenant is in place through March 2029 at $2,400 per month. The property is suitable for continued medical or dental use, professional office space, wellness services, or other commercial needs.
Key Highlights
- Tenant in place through March 2029 generating $2,400/month income
- Handicap accessible layout with waiting room, reception area, file rooms, 5 treatment rooms, and 2 bathrooms
- Versatile space suitable for medical, dental, professional office, wellness services, or other commercial uses
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
$20,162
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
6.72%
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%
$403,240
$403.2K
Cap Rate 7%
$288,029
$288.0K
Cap Rate 9%
$224,022
$224.0K
Market Conditions
NOI Build-Up for 1,602 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
$36.5K $22.80/SF
− Vacancy
−$2.9K −$1.82/SF
EGI
$33.6K $20.98/SF
− OpEx
−$13.4K −$8.39/SF
NOI
$20.2K $12.59/SF
Area
Levy County, 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%
$403,240
Cap Rate 7%
$288,029
Cap Rate 9%
$224,022
Alternative Uses
Best Use
Healthcare Medical
$288.0K
$252.0K – $336.0K
NOI $20,162 @ 7.0% cap · market cap 6.72%
Second Best
Office B
$285.5K
$249.8K – $333.1K
NOI $19,983 @ 7.0% cap · market cap 6.66%
Theoretical Best
Office A
$396.8K
$347.2K – $462.9K
NOI $27,775 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32696, FL
12,784
Population
6,133
Households
2.1
Avg Household Size
46
Median Age
20%
College-Educated
88%
High-School Grad
142.4 sq mi
ZIP Area
90
Density / Sq Mi
$56,944
Median Household Income
$36,368
Median Earnings
$827
Median Rent
$202,800
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 - Well-maintained office building in Williston, currently operating as dental practice.
Where is this medical office space located?
The property is located at 510 SW 5TH Ter A Williston, FL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Tenant in place through March 2029 generating $2,400/month income; Handicap accessible layout with waiting room, reception area, file rooms, 5 treatment rooms, and 2 bathrooms; Versatile space suitable for medical, dental, professional office, wellness services, or other commercial uses
