Gainesville Office/Creative Space
For Sale
$5,500,000
7600 NW 5th Place, Gainesville, FL 32607
28,775 SF building in Gainesville, FL, ideal for office/creative.
Property Size29,600 SF
Lot Size3.02 Acres
Price / SF$191.14
Days on Market159
Property Features for 7600 NW 5th Place
General Information
Standard status
Active
Size
29,600 SF
Class
A
Lot size
3.02 Acres
Property subtype
Office
Building Details
Building Size
29,600 SF
Year Built
2008
Listing Agency:
Lee & Associates Gainesville
(352) 494-2100
Listed By:
Brian Oen · License #BK3372787
(352) 494-2100
Source:
Lee-associates
Added: Mar 4
Changed: Aug 8
Last Checked: Apr 5 at 9:44PM
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 Gainesville
Investment Insights
Based on property information with market context.
Located in Gainesville, FL, this property offers a 28,775 square foot building constructed in 2008, suitable for office, creative, or loft spaces. The property is zoned BH (Business Highway), offering a range of possibilities for office, creative, and loft investors. The building is situated in a thriving area, providing an ideal space for various office and creative ventures. The property is of modern design with versatile functionality. The area is known for its academic environment, cultural vitality, and economic dynamism. The University of Florida and various research and technology enterprises are nearby. The University of Florida campus and Innovation Square are in close proximity. The location is near retail centers, dining establishments, and major transportation routes. The total area is approximately 28,775 square feet across 3 buildings, situated on a lot of approximately 3.02 acres. The building shell was built in 2006 and completed between 2015 and 2017. The building has two stories and is currently vacant. It is suited for creative, executive, or traditional office use, and is ideal for tech, engineering, medical, or corporate headquarters. Owner financing is available to qualified buyers.
Key Highlights
- Large 28,775 SF building suitable for office, creative, or loft spaces.
- BH (Business Highway) zoning allows for a broad range of office and commercial uses.
- Located in Gainesville, FL, near the University of Florida and Innovation Square.
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
$358,939
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
6.53%
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%
$7,178,780
$7.2M
Cap Rate 7%
$5,127,700
$5.1M
Cap Rate 9%
$3,988,211
$4.0M
Market Conditions
NOI Build-Up for 28,775 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
$569.7K $19.80/SF
− Vacancy
−$91.2K −$3.17/SF
EGI
$478.6K $16.63/SF
− OpEx
−$119.6K −$4.16/SF
NOI
$358.9K $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%
$7,178,780
Cap Rate 7%
$5,127,700
Cap Rate 9%
$3,988,211
Alternative Uses
Best Use
Office B
$5.13M
$4.49M – $5.98M
NOI $358,939 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.13M
$6.24M – $8.31M
NOI $498,889 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,315
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
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 - 28,775 SF building in Gainesville, FL, ideal for office/creative.
Where is this office building located?
The property is located at 7600 NW 5th Place Gainesville, FL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Large 28,775 SF building suitable for office, creative, or loft spaces.; BH (Business Highway) zoning allows for a broad range of office and commercial uses.; Located in Gainesville, FL, near the University of Florida and Innovation Square.
