Second-Floor Office
For Sale
$244,000
B-1204 69th Ter, Gainesville, FL 32607
Redeveloped second-floor office suite with five private offices, lobby, two restrooms, kitchenette, and newer HVAC.
Property Size1,671 SF
Price / SF$146.02
Days on Market179
Property Features for B-1204 69th Ter
General Information
Standard status
Active
Size
1,671 SF
Amenities
kitchenette
elevator
on-site parking
Building Details
Tenancy
Multi
Listing Agency:
COLDWELL BANKER M.M. PARRISH REALTORS
(352) 922-0048
Listed By:
Shasta Schoellhorn · License #SL3484708
(352) 922-0048
Source:
Exprealty
Added: Feb 12
Changed: Jul 22
Last Checked: Aug 9 at 11:59AM
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 COLDWELL BANKER M.M. PARRISH REALTORS
Investment Insights
Based on property information with market context.
This beautifully redecorated second-floor office suite is designed for professional use and includes five private offices, a large lobby with reception desk and workspace, two restrooms, a kitchenette, and ample storage. Large windows provide an open, light-filled environment with views. HVAC is approximately three years old, and the building has a new roof and is reported to be in excellent condition. The suite also features a large stairway and convenient elevator access, along with a large entry hall.
The office is located within a development referred to as a "Professional Complex," which is set up as fractional ownership with six property owners sharing common area expenses. The property includes plenty of on-site parking for staff and clients.
Offered for sale as an individual office unit within the complex, this layout supports a contained office arrangement with a defined reception area and multiple private rooms.
The office is located within a development referred to as a "Professional Complex," which is set up as fractional ownership with six property owners sharing common area expenses. The property includes plenty of on-site parking for staff and clients.
Offered for sale as an individual office unit within the complex, this layout supports a contained office arrangement with a defined reception area and multiple private rooms.
Key Highlights
- Second‑floor office suite with five private offices plus large lobby and reception desk/workspace
- Includes two restrooms, kitchenette, and a large entry hall with ample storage
- Large windows provide views and a bright work environment
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
$20,844
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
8.54%
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%
$416,880
$416.9K
Cap Rate 7%
$297,771
$297.8K
Cap Rate 9%
$231,600
$231.6K
Market Conditions
NOI Build-Up for 1,671 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
$33.1K $19.80/SF
− Vacancy
−$5.3K −$3.17/SF
EGI
$27.8K $16.63/SF
− OpEx
−$6.9K −$4.16/SF
NOI
$20.8K $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 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%
$416,880
Cap Rate 7%
$297,771
Cap Rate 9%
$231,600
Alternative Uses
Best Use
Office B
$297.8K
$260.6K – $347.4K
NOI $20,844 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$413.9K
$362.1K – $482.9K
NOI $28,971 @ 7.0% cap · market cap 11.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
495
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 units - Redeveloped second-floor office suite with five private offices, lobby, two restrooms, kitchenette, and newer HVAC.
Where is this office units located?
The property is located at B-1204 69th Ter Gainesville, FL.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: Second‑floor office suite with five private offices plus large lobby and reception desk/workspace; Includes two restrooms, kitchenette, and a large entry hall with ample storage; Large windows provide views and a bright work environment
