Medical Office Condominium
For Sale
$375,000
B-230 76th Dr, Gainesville, FL 32607
Office condominium suite in a professional corridor with a flexible layout, ample parking, and concrete block construction.
Property Size1,873 SF
Price / SF$200.21
Days on Market36
Property Features for B-230 76th Dr
General Information
Standard status
Active
Size
1,873 SF
Property subtype
Residential
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$5,609
Building Details
Construction
concrete block
Listing Agency:
UNIVERSITY REALTY
(352) 283-1384
Listed By:
Eric Warm · License #259505058
(352) 283-1384
Source:
Exprealty
Added: Jul 6
Changed: Aug 8
Last Checked: Aug 9 at 10:43AM
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 UNIVERSITY REALTY
Investment Insights
Based on property information with market context.
This medical office condominium suite, located as Suite B, is offered for sale in an established NW Gainesville professional corridor. The space features a flexible and functional layout and is built with concrete block construction. The property also offers ample parking for patients, staff, and visitors.
The suite is positioned in an office park with convenient access to Newberry Road and I-75. Public remarks also note visibility from Tower Road.
Available for purchase as a ready-to-go office within the professional office park setting, this suite represents a straightforward option for an owner seeking an established medical office configuration.
The suite is positioned in an office park with convenient access to Newberry Road and I-75. Public remarks also note visibility from Tower Road.
Available for purchase as a ready-to-go office within the professional office park setting, this suite represents a straightforward option for an owner seeking an established medical office configuration.
Key Highlights
- Medical office condominium suite at 230 NW 76th Drive, Suite B, located in the established NW Gainesville professional corridor.
- Flexible and functional layout designed for a medical office setup.
- Ample parking for patients and visitors.
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
$23,573
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
6.29%
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%
$471,460
$471.5K
Cap Rate 7%
$336,757
$336.8K
Cap Rate 9%
$261,922
$261.9K
Market Conditions
NOI Build-Up for 1,873 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
$42.7K $22.80/SF
− Vacancy
−$3.4K −$1.82/SF
EGI
$39.3K $20.98/SF
− OpEx
−$15.7K −$8.39/SF
NOI
$23.6K $12.59/SF
Area
Gainesville, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$471,460
Cap Rate 7%
$336,757
Cap Rate 9%
$261,922
Alternative Uses
Best Use
Healthcare Medical
$336.8K
$294.7K – $392.9K
NOI $23,573 @ 7.0% cap · market cap 6.29%
Second Best
Office B
$333.8K
$292.1K – $389.4K
NOI $23,364 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$463.9K
$405.9K – $541.2K
NOI $32,473 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,015
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Hamerslag Karen L DVM — 229 NW 75th St, Gainesville, FL 32607
Frequently Asked Questions
What type of property is this?
Medical Office Space - Office condominium suite in a professional corridor with a flexible layout, ample parking, and concrete block construction.
Where is this medical office space located?
The property is located at B-230 76th Dr Gainesville, FL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Medical office condominium suite at 230 NW 76th Drive, Suite B, located in the established NW Gainesville professional corridor.; Flexible and functional layout designed for a medical office setup.; Ample parking for patients and visitors.
