Office Condominium Unit on
For Sale
$405,000
A-4110 Nw 37th Pl, Gainesville, FL 32609
Office condominium with custom finishes in a corner setting and 29,500 cars per day traffic count.
Property Size1,944 SF
Price / SF$208.33
Days on Market132
Property Features for A-4110 Nw 37th Pl
General Information
Standard status
Active
Size
1,944 SF
Additional Details
HOA Fee
$395
Listing Agency:
WATSON REALTY CORP
(352) 665-7487
Listed By:
Lee Crane
(352) 665-7487
Source:
Exprealty
Added: Apr 7
Changed: Jul 30
Last Checked: Aug 16 at 10:38AM
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 WATSON REALTY CORP
Investment Insights
Based on property information with market context.
This office condominium unit at MetroCorp Center offers a turn-key office setup with custom-designed fixtures and finishes. The property is a one-owner unit and has been meticulously maintained. Furniture is negotiable for the incoming tenant or buyer, and the unit totals 1,944 SF.
The unit is positioned for accessibility and visibility at the corner of NW 43rd Street and 39th Avenue. The latest reported traffic count is 29,500 cars per day, supporting day-to-day customer and client access.
For buyers seeking a high-quality office condominium within a managed center, this offering combines custom interior build-outs with a corner location and strong vehicular traffic at the intersection.
The unit is positioned for accessibility and visibility at the corner of NW 43rd Street and 39th Avenue. The latest reported traffic count is 29,500 cars per day, supporting day-to-day customer and client access.
For buyers seeking a high-quality office condominium within a managed center, this offering combines custom interior build-outs with a corner location and strong vehicular traffic at the intersection.
Key Highlights
- 1,944 SF office condominium unit at MetroCorp Center
- Corner location at NW 43rd Street and 39th Avenue
- Latest reported traffic count: 29,500 cars per day
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
$24,249
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
5.99%
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%
$484,980
$485.0K
Cap Rate 7%
$346,414
$346.4K
Cap Rate 9%
$269,433
$269.4K
Market Conditions
NOI Build-Up for 1,944 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
$38.5K $19.80/SF
− Vacancy
−$6.2K −$3.17/SF
EGI
$32.3K $16.63/SF
− OpEx
−$8.1K −$4.16/SF
NOI
$24.2K $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%
$484,980
Cap Rate 7%
$346,414
Cap Rate 9%
$269,433
Alternative Uses
Best Use
Office B
$346.4K
$303.1K – $404.2K
NOI $24,249 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$481.5K
$421.3K – $561.7K
NOI $33,704 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Explore this area
Business Placement
Demographics for 32609, FL
18,322
Population
8,515
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
87%
High-School Grad
117.5 sq mi
ZIP Area
156
Density / Sq Mi
$48,121
Median Household Income
$34,041
Median Earnings
$1,159
Median Rent
$174,500
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 units - Office condominium with custom finishes in a corner setting and 29,500 cars per day traffic count.
Where is this office units located?
The property is located at A-4110 Nw 37th Pl Gainesville, FL.
What is the asking price?
The asking price for this property is $405,000.
What are key features of this property?
This property features: 1,944 SF office condominium unit at MetroCorp Center; Corner location at NW 43rd Street and 39th Avenue; Latest reported traffic count: 29,500 cars per day
