Gainesville Office/Flex Investment
For Sale
Contact for pricing
Pending
5719 NW 13th St, Gainesville, FL 32653
Fully leased office/flex property with long-term tenant and development potential.
Property Size15,600 SF
Lot Size2.60 Acres
Days on Market163
Property Features for 5719 NW 13th St
General Information
Standard status
Pending
Size
15,600 SF
Class
A
Lot size
2.60 Acres
Property subtype
Office
Zoning
PD
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Building Details
Tenancy
Single
Listing Agency:
Bosshardt Realty Services
(352) 316-8413
Listed By:
Makayla Richardson · License #SL3598503
Source:
Crexi
Added: Mar 2
Changed: Aug 8
Last Checked: Jul 31 at 12:55PM
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
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 = 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
$194,594
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
7.78%
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%
$3,891,880
$3.9M
Cap Rate 7%
$2,779,914
$2.8M
Cap Rate 9%
$2,162,156
$2.2M
Market Conditions
NOI Build-Up for 15,600 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
$308.9K $19.80/SF
− Vacancy
−$49.4K −$3.17/SF
EGI
$259.5K $16.63/SF
− OpEx
−$64.9K −$4.16/SF
NOI
$194.6K $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 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%
$3,891,880
Cap Rate 7%
$2,779,914
Cap Rate 9%
$2,162,156
Alternative Uses
Best Use
Office B
$2.78M
$2.43M – $3.24M
NOI $194,594 @ 7.0% cap · market cap 7.78%
Second Best
Flex RnD
$2.09M
$1.83M – $2.44M
NOI $146,320 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$3.86M
$3.38M – $4.51M
NOI $270,467 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
382
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $2,500,000.
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.
