Gainesville Office Building on 9.45
For Sale
$7,750,000
6901 SW 24th Ave, Gainesville, FL 32607
Three-story office building with high visibility and flexible leasing options.
Property Size35,821 SF
Lot Size9.45 Acres
Price / SF$216.35
Days on Market219
Property Features for 6901 SW 24th Ave
General Information
Standard status
Active
Size
35,821 SF
Lot size
9.45 Acres
Property subtype
Office
Building Details
Year Built
2008
Listing Agency:
Lee & Associates
Listed By:
Dan Drotos, MSRE, CCIM, SIOR · License #FL #BK3255693
(352) 420-9889
Source:
Lee-associates
Added: Mar 6
Changed: Jul 10
Last Checked: Oct 11 at 4:02AM
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 Lee & Associates
Investment Insights
Based on property information with market context.
This three-story office building offers approximately 35,000 square feet of office space and is situated on 9.45 acres. The property is located along the SW 24th Avenue corridor, which experiences an average daily traffic count of 19,000 vehicles. The location provides accessibility and visibility. The building features east and west stairwells, along with two central elevators, providing access to all floors. The property is suitable for a large corporation or a growing company. Tenants have the option to lease the entire building or individual floors. The property is within walking distance of both CVS Pharmacy and Walgreens, and is also located minutes from shopping, hotels, professional offices, healthcare facilities, schools, restaurants, banking, and public transportation. SW 24th Avenue connects the western edge of the University of Florida to areas just west of I-75.
Key Highlights
- 35,000± SF of prime office space, ideal for a large or growing company.
- High visibility location** on SW 24th Avenue with 19,000 average daily traffic count.
- Flexible leasing options available: entire building or individual floors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$446,831
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,936,620
$8.9M
Cap Rate 7%
$6,383,300
$6.4M
Cap Rate 9%
$4,964,789
$5.0M
Market Conditions
NOI Build-Up for 35,821 SF
Gross rent
$709.3K $19.80/SF
− Vacancy
−$113.5K −$3.17/SF
EGI
$595.8K $16.63/SF
− OpEx
−$148.9K −$4.16/SF
NOI
$446.8K $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%
$8,936,620
Cap Rate 7%
$6,383,300
Cap Rate 9%
$4,964,789
Alternative Uses
Best Use
Office B
$6.38M
$5.59M – $7.45M
NOI $446,831 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.87M
$7.76M – $10.35M
NOI $621,050 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 32607, FL
35,420
Population
16,465
Households
2.2
Avg Household Size
28
Median Age
53%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,811
Density / Sq Mi
$46,517
Median Household Income
$30,690
Median Earnings
$1,222
Median Rent
$297,800
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-story office building with high visibility and flexible leasing options.
Where is this office building located?
The property is located at 6901 SW 24th Ave Gainesville, FL.
What is the asking price?
The asking price for this property is $7,750,000.
What are key features of this property?
This property features: 35,000± SF of **prime office space**, ideal for a large or growing company.; High visibility location** on SW 24th Avenue with 19,000 average daily traffic count.; Flexible leasing options available: entire building or individual floors.
