Medical Office Space with Private
For Sale
$5,000,000
6717 Northwest 11th Place, Gainesville, FL 32605
Multi-suite facility includes treatment rooms, waiting areas, restrooms, and dedicated parking.
Property Size15,804 SF
Days on Market145
Property Features for 6717 Northwest 11th Place
General Information
Standard status
Active
Size
15,804 SF
Class
B
Total Parking Spaces
100
Property subtype
Office
Additional Details
Office Units
4
Building Details
Building Size
15,804 SF
Buildings
1
Tenancy
Multi
Listed By:
Sage Alfonso · License #FL #SL3476286
(352) 316-8413
Source:
Bosscommercial
Added: Apr 11
Changed: Aug 30
Last Checked: Sep 1 at 4:22PM
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 Sage Alfonso
Investment Insights
Based on property information with market context.
Located at 6717 NW 11th Pl in Gainesville, Florida, this medical office property is configured for multiple practices or departments. Upper-level Suite A measures 7,900± SF and includes a large lobby, optical store, lab, reception workspace, 26 private offices or treatment rooms, two waiting alcoves, five restrooms, and storage areas. Eight treatment rooms have sinks.
Suites B, C, and D occupy the lower level and are reached through individual entrances along a tiled central hallway. The suites measure 2,200± SF, 3,128± SF, and 2,387± SF, respectively, with each offering a lobby or waiting area, reception space, offices, treatment rooms, and restrooms. The building has 12 HVAC units, including six new units, along with a new roof. A dedicated parking area provides 100± spaces near both entrances.
Suites B, C, and D occupy the lower level and are reached through individual entrances along a tiled central hallway. The suites measure 2,200± SF, 3,128± SF, and 2,387± SF, respectively, with each offering a lobby or waiting area, reception space, offices, treatment rooms, and restrooms. The building has 12 HVAC units, including six new units, along with a new roof. A dedicated parking area provides 100± spaces near both entrances.
Key Highlights
- 7,900± SF upper‑level Suite A with 26 private offices or treatment rooms
- Lower‑level Suites B, C, and D measure 2,200± SF, 3,128± SF, and 2,387± SF
- Eight Suite A treatment rooms include sinks
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
$198,903
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
3.98%
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%
$3,978,060
$4.0M
Cap Rate 7%
$2,841,471
$2.8M
Cap Rate 9%
$2,210,033
$2.2M
Market Conditions
NOI Build-Up for 15,804 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
$360.3K $22.80/SF
− Vacancy
−$28.8K −$1.82/SF
EGI
$331.5K $20.98/SF
− OpEx
−$132.6K −$8.39/SF
NOI
$198.9K $12.59/SF
Area
Gainesville, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$3,978,060
Cap Rate 7%
$2,841,471
Cap Rate 9%
$2,210,033
Alternative Uses
Best Use
Healthcare Medical
$2.84M
$2.49M – $3.32M
NOI $198,903 @ 7.0% cap · market cap 3.98%
Second Best
Office B
$2.82M
$2.46M – $3.29M
NOI $197,139 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$3.91M
$3.43M – $4.57M
NOI $274,003 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,942
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32605, FL
24,326
Population
11,651
Households
2.1
Avg Household Size
40
Median Age
61%
College-Educated
97%
High-School Grad
9.8 sq mi
ZIP Area
2,482
Density / Sq Mi
$83,114
Median Household Income
$48,741
Median Earnings
$1,505
Median Rent
$264,700
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?
Medical Office Space - Multi-suite facility includes treatment rooms, waiting areas, restrooms, and dedicated parking.
Where is this medical office space located?
The property is located at 6717 Northwest 11th Place Gainesville, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 7,900± SF upper‑level Suite A with 26 private offices or treatment rooms; Lower‑level Suites B, C, and D measure 2,200± SF, 3,128± SF, and 2,387± SF; Eight Suite A treatment rooms include sinks
