Class A Industrial/Flex
For Sale
$7,499,000
5431 SW 35th Drive, Gainesville, FL 32608
Fully leased investment opportunity near I-75 in Gainesville, Florida.
Property Size35,984 SF
Lot Size3.69 Acres
Price / SF$208.40
Days on Market166
Property Features for 5431 SW 35th Drive
General Information
Standard status
Active
Size
35,984 SF
Lot size
3.69 Acres
Property subtype
Industrial
Building Details
Building Size
35,984 SF
Year Built
2016
Listing Agency:
Colliers | Gainesville
(352) 420-9889
Listed By:
Dan Drotos, MSRE, CCIM, SIOR · License #FL #BK3255693
Source:
Lee-associates
Added: Mar 4
Changed: Aug 14
Last Checked: Aug 17 at 5:14AM
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 fully leased, Class A industrial/flex/showroom/office building, constructed in 2016, offers an investment opportunity. The property is situated on 3.69 acres and is zoned BH (Highway oriented Business). It features on-building and monument signage, along with approximately 92 surface parking spaces. The industrial suite includes a truck-height dock and multiple commercial roll-up doors. The location provides convenient access to destinations in Gainesville, Florida, and beyond, being located at the Williston Road & I-75 (SR 121/331) exit. The property is approximately 3.7 miles from the University of Florida, Shands Teaching Hospital, and the VA Medical Center. The location is on busy north/south & east/west Gainesville corridors, with easy access to I-75. Tenants include a mix of office, industrial, showroom, and medical businesses, consisting of long-term National and Regional tenants. There are approximately 46,000 total households within a 5-mile radius. The building has 35,984 square feet.
Key Highlights
- Fully leased Class A industrial/flex/showroom/office building, an immediate investment opportunity.
- Excellent location with easy access to I‑75 at the Williston Road exit.
- Located just 3.7 miles from the University of Florida, Shands Teaching Hospital, and the VA Medical Center.
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
$337,512
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
4.50%
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%
$6,750,240
$6.8M
Cap Rate 7%
$4,821,600
$4.8M
Cap Rate 9%
$3,750,133
$3.8M
Market Conditions
NOI Build-Up for 35,984 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
$561.4K $15.60/SF
− Vacancy
−$42.1K −$1.17/SF
EGI
$519.2K $14.43/SF
− OpEx
−$181.7K −$5.05/SF
NOI
$337.5K $9.38/SF
Area
Gainesville, FL
Vacancy
7.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$6,750,240
Cap Rate 7%
$4,821,600
Cap Rate 9%
$3,750,133
Alternative Uses
Best Use
Flex RnD
$4.82M
$4.22M – $5.63M
NOI $337,512 @ 7.0% cap · market cap 4.50%
Second Best
Industrial
$3.49M
$3.05M – $4.07M
NOI $244,079 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$8.91M
$7.80M – $10.40M
NOI $623,876 @ 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
967
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32608, FL
55,540
Population
25,939
Households
2.1
Avg Household Size
29
Median Age
58%
College-Educated
95%
High-School Grad
44.5 sq mi
ZIP Area
1,248
Density / Sq Mi
$60,182
Median Household Income
$34,991
Median Earnings
$1,357
Median Rent
$340,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully leased investment opportunity near I-75 in Gainesville, Florida.
Where is this flex space located?
The property is located at 5431 SW 35th Drive Gainesville, FL.
What is the asking price?
The asking price for this property is $7,499,000.
What are key features of this property?
This property features: Fully leased Class A industrial/flex/showroom/office building, an immediate investment opportunity.; Excellent location with easy access to I‑75 at the Williston Road exit.; Located just 3.7 miles from the University of Florida, Shands Teaching Hospital, and the VA Medical Center.
