Two-Story Office Building in
For Sale
$1,150,000
5550 Northwest 111th Boulevard, Gainesville, FL 32653
Two-story office building with space to lease or occupy.
Property Size3,265 SF
Lot Size2.50 Acres
Price / SF$352.22
Days on Market174
Property Features for 5550 Northwest 111th Boulevard
General Information
Standard status
Active
Size
3,265 SF
Lot size
2.50 Acres
Property subtype
Office
Building Details
Year Built
2007
Listing Agency:
Colliers | Gainesville
(352) 222-4590
Listed By:
Lauren Vazquez, SIOR
(352) 222-4590
Source:
Lee-associates
Added: Mar 6
Changed: Jul 6
Last Checked: Aug 26 at 7:11AM
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.
Located in the Alachua Crossings complex off US Highway 441 in Gainesville, Florida, this two-story brick office building is situated on 2.28 acres. The first floor includes 2,067 square feet of office space available to lease or occupy. The entire 3,265 square foot second floor is vacant and also available to lease or occupy. Both floors have access to shared common office areas, including a reception area, break area/kitchen, and conference or training room space. The property offers ample parking and a private, natural setting. It is located on the Gainesville-Alachua Tech Corridor and is 9.4 miles from downtown Gainesville, 6.7 miles from downtown Alachua, and 9.0 miles from the University of Florida.
Key Highlights
- Located directly on US Highway 441 in the Gainesville‑Alachua Tech Corridor.
- Two‑story brick office building with flexible lease/occupancy options for both floors.
- Vacant 3,265± SF second floor available for lease/occupancy.
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
$40,728
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
3.54%
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%
$814,560
$814.6K
Cap Rate 7%
$581,829
$581.8K
Cap Rate 9%
$452,533
$452.5K
Market Conditions
NOI Build-Up for 3,265 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
$64.6K $19.80/SF
− Vacancy
−$10.3K −$3.17/SF
EGI
$54.3K $16.63/SF
− OpEx
−$13.6K −$4.16/SF
NOI
$40.7K $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%
$814,560
Cap Rate 7%
$581,829
Cap Rate 9%
$452,533
Alternative Uses
Best Use
Office B
$581.8K
$509.1K – $678.8K
NOI $40,728 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$808.7K
$707.6K – $943.5K
NOI $56,607 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 32653, FL
14,397
Population
6,746
Households
2.1
Avg Household Size
45
Median Age
52%
College-Educated
97%
High-School Grad
38.5 sq mi
ZIP Area
374
Density / Sq Mi
$97,700
Median Household Income
$52,523
Median Earnings
$1,130
Median Rent
$273,700
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?
Office building - Two-story office building with space to lease or occupy.
Where is this office building located?
The property is located at 5550 Northwest 111th Boulevard Gainesville, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Located directly on US Highway 441 in the Gainesville‑Alachua Tech Corridor.; Two‑story brick office building with flexible lease/occupancy options for both floors.; Vacant **3,265± SF second floor available for lease/occupancy.**
