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304 140Th Ter Newberry, FL 32669
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For Sale
$1,100,000
5,526 SF Office, Prime Location
Property size:
5,526 SF
Description
Added:
Dec 11, 2024
Days on Market:
414
This exceptional 5,526 square foot office building, situated on a 0.92-acre lot in Newberry, Florida, presents a compelling investment opportunity. Built in 2000 and boasting a new roof installed in 2017, the property features a well-maintained two-story structure with a highly efficient layout. The first floor encompasses approximately 4,934 square feet, including a bright lobby with reception area, thirteen private offices of varying sizes, a spacious conference room, a kitchen/breakroom, two ADA-compliant restrooms (one with a walk-in shower), and ample storage. High-end finishes throughout the first floor include crown moldings, tile and luxury vinyl plank flooring, upgraded lighting, and plantation shutters. Two rooms currently configured as a salon with sinks and styling stations, plus a separate counter area with sink and cabinetry, offer versatile space. The second floor adds another 592 square feet, previously used as a call center, featuring multiple workstations and a supervisory office with a glass window overlooking the workspace. A significant advantage is the inclusion of a level 47' x 80' building pad, allowing for future expansion. The property benefits from ample on-site parking, prominent on-building signage, and convenient access to Newberry Road, I-75 (4.7 miles), and the amenities of West Gainesville and Jonesville. The property is zoned BR (Business, Retail Sales and Services), offering flexibility for various business types. This turnkey property is available immediately and represents a rare opportunity to acquire a well-maintained, versatile office building in a desirable location. The asking price is $1,100,000, with a price per square foot of $199.06. The Alachua County APN is 04344-005-001.
Property Features for 304 140Th Ter
General Information
Property type
Office space
Square Feet
5,526 SF
Lot Size
40,075 SF
Building Details
Year Built
2000
Buildings
1
Stories
2
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Listing Contact
Dan Drotos
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Property Insight Report
HighLights
Immediately available for occupancy.
Convenient to Jonesville's restaurants, retail, and banking services.
Excellent access to Newberry Road and West Gainesville amenities.
The property is located at 304 140Th Ter Newberry, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Immediately available for occupancy.; Convenient to Jonesville's restaurants, retail, and banking services.; Excellent access to Newberry Road and West Gainesville amenities.
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304 140Th Ter Newberry, FL 32669
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Realmo Value Estimations
Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods.
Disclaimer
These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.
AI approach
Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Realmo CapRate Calculation
Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.
How We Calculate Cap Rate
Cap Rate Formula: Cap Rate (%) = (Net Operating Income / Property Value) × 100
Net Operating Income (NOI) Formula: NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)
Components
Net Operating Income (NOI) represents the annual income a property generates after operating expenses:
Area: Building square footage from property records
Lease Rate: Annual $/sqft based on market data for the property type and geographic location
Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
Operating Expense Ratio: Operating costs as a percentage of income, varies by property type
Property Value is derived from:
Recent sale price (if available)
Statistical models using comparable sales
AI-powered valuation estimates
Example Calculation
For a 100,000 sqft Office Building:
Lease Rate: $25.00/sqft/year (market data for Office in this area)
Vacancy Rate: 8% (market data for Office in this area)
Operating Expense Ratio: 35% (typical for Office properties)
Property Value: $15,000,000
Step 1: Calculate NOI
NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35) NOI = 100,000 × $25.00 × 0.92 × 0.65 NOI = $1,495,000/year
Step 2: Calculate Cap Rate
Cap Rate = ($1,495,000 / $15,000,000) × 100 Cap Rate = 9.97%
Property Type Considerations
Net Operating Income calculations vary by property type due to different operating expense ratios:
Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
Retail: Moderate expenses (25-35%) for common area maintenance
Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
Multifamily: Moderate expenses (35-45%) including property management
Self-Storage: Lower expenses (25-35%) due to minimal maintenance
Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.
Disclaimer
These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.
Cap Rate calculations depend on market data that may change over time
Actual operating expenses, lease rates, and vacancy rates may differ from market averages
Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
Property value estimates are approximations and not official appraisals
Cap rates vary widely by market, property condition, and investment risk profile
Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
Relative
Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Stat Estimate
This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all similar sales ($/sqft) are above this value
Range-to: 75% of all similar sales ($/sqft) are below this value
AI Estimate
This method estimates value based on AI market estimation of comparable properties around by location and property type.
Ranges - area data calculated by industry standard IQR Outlier Removal Method
Range-from: 75% of all estimations ($/sqft) are above this value
Range-to: 75% of all estimations ($/sqft) are below this value
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
More about this property
304 140Th Ter Newberry, FL 32669
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304 140Th Ter, Newberry, FL
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304 140Th Ter, Newberry, FL
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Real Estate License ID: FL 3255693
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