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 Market208
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: Sep 23
Last Checked: Sep 26 at 1:12PM
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
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
$212,557
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
8.97%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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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.
