Gainesville Office/Flex Investment
For Sale
$2,370,000
5719 Nw 13th St, Gainesville, FL 32608
Fully leased office/flex property with long-term tenant and development potential.
Property Size17,040 SF
Lot Size2.60 Acres
Price / SF$139.08
Days on Market226
Property Features for 5719 Nw 13th St
General Information
Standard status
Active
Size
17,040 SF
Lot size
2.60 Acres
Taxes and HOA fees
Annual Taxes
$30,641
Listing Agency:
BOSSHARDT REALTY SERVICES LLC
(352) 371-6100
Listed By:
Makayla Richardson · License ##SL3598503
(352) 256-7532
Source:
Exprealty
Added: Mar 4
Changed: Oct 5
Last Checked: Oct 16 at 10:08AM
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 BOSSHARDT REALTY SERVICES LLC
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Investment Insights
Based on property information with market context.
This 15,600 square foot office/flex property is fully leased to Partnership for Strong Families, a State of Florida contracted lead agency with a corporate structure, through April 1, 2035. The lease includes two five-year renewal options and 3% annual rent increases beginning April 1, 2028. Situated on 2.6 acres along NW 13th Street, the property benefits from approximately 29,000 vehicles per day, providing strong visibility and accessibility. Recent capital improvements exceeding $100,000 include a roof coating in 2022, HVAC upgrades, and LED lighting. The property also includes a buildable lot at the front of the parcel, with approved commercial uses under the existing PD zoning, offering additional development potential and long-term value creation. This asset presents a secure, government-backed income stream in a strong Gainesville corridor.
Key Highlights
- Fully leased through April 1, 2035, to Partnership for Strong Families, a State of Florida contracted lead agency, providing a secure, government‑backed income stream.
- Lease includes two (2) five‑year renewal options and 3% annual rent increases beginning April 1, 2028, offering built‑in income growth and long‑term stability.
- Recent capital improvements exceeding $100,000, including roof coating (2022), HVAC upgrades, and LED lighting, minimizing near‑term capital expenditures.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$212,557
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,251,140
$4.3M
Cap Rate 7%
$3,036,529
$3.0M
Cap Rate 9%
$2,361,744
$2.4M
Market Conditions
NOI Build-Up for 17,040 SF
Gross rent
$337.4K $19.80/SF
− Vacancy
−$54.0K −$3.17/SF
EGI
$283.4K $16.63/SF
− OpEx
−$70.9K −$4.16/SF
NOI
$212.6K $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 Rate 5%
$4,251,140
Cap Rate 7%
$3,036,529
Cap Rate 9%
$2,361,744
Alternative Uses
Best Use
Office B
$3.04M
$2.66M – $3.54M
NOI $212,557 @ 7.0% cap · market cap 8.97%
Second Best
Flex RnD
$2.28M
$2.00M – $2.66M
NOI $159,827 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$4.22M
$3.69M – $4.92M
NOI $295,433 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Fully leased office/flex property with long-term tenant and development potential.
Where is this office building located?
The property is located at 5719 Nw 13th St Gainesville, FL.
What is the asking price?
The asking price for this property is $2,370,000.
What are key features of this property?
This property features: Fully leased through April 1, 2035, to Partnership for Strong Families, a State of Florida contracted lead agency, providing a secure, government‑backed income stream.; Lease includes two (2) five‑year renewal options and 3% annual rent increases beginning April 1, 2028, offering built‑in income growth and long‑term stability.; Recent capital improvements exceeding $100,000, including roof coating (2022), HVAC upgrades, and LED lighting, minimizing near‑term capital expenditures.
