Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    4340 Newberry Rd Gainesville, FL 32605

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4340 Newberry Rd Gainesville, FL 32605

    View on Map
    • Office properties & Spaces
    • 5,982 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Uf Plastic & Reconsructive / Physician / Medical Clinic
    • Millennium Center / Medical Clinic
    • Vitreo Retinal Associates / Ophthalmologist
    • Accent Sleep Solutions / Medical Clinic
    • Rhinoplasty / Medical Clinic

    Property Details for 4340 Newberry Rd

    Year built
    2000
    Property size
    5,982 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional 5,982 square foot medical office condo is situated on the first floor of the Millennium Center, a three-story building boasting a grand lobby. Located at 4340 W Newberry Rd, Gainesville, FL 32605, this Alachua County property (APN: 06544-201-101) offers a prime location with convenient access and ample parking (138 spaces). Built in 2000, the unit features a covered four-lane drive-thru canopy, ideal for patient access and convenience. The space is zoned CP, allowing for a diverse range of uses including professional offices, medical offices, laboratories, health services, research and testing facilities, and veterinary services. The property is part of the 43rd Street Medical Building condominium. Note that any sale to another institution may include a purchaser's premium of at least 20%. The unit's asking price is $950,000, translating to $158.81 per square foot. Prestigious neighbors include Gainesville High Field MRI, Vitreo Retinal Associates, Accent Physician Specialist, and the Alachua County Employee Health & Wellness Center. This is a remarkable opportunity to acquire a well-located, versatile medical office space in a thriving Gainesville community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gainesville
    County
    Alachua
    State
    Florida
    Longitude
    -82.3896
    Latitude
    29.656

    Comparable in this City

    • Value Estimation by Request
      6,980 SF

      7019 11Th Pl

      Medical Office Space • 6,980 SF
      7019 11Th Pl, Gainesville, FL 32605
      View Details
    • Value Estimation by Request
      10,000 SF

      1167 64Th Ter

      Medical Office Space • 10,000 SF
      1167 64Th Ter, Gainesville, FL 32605
      View Details
    • Value Estimation by Request
      1,026 SF

      6628 9th Blvd Ste, Unit 4

      MEDICAL BUILDING • 1,026 SF
      6628 9th Blvd Ste, Gainesville, FL 32605-4232
      View Details
    • Value Estimation by Request
      2,772 SF

      7003 11th Pl Ste, Unit 3

      MEDICAL BUILDING • 2,772 SF
      7003 11th Pl Ste, Gainesville, FL 32605-3146
      View Details
    • Value Estimation
      $705,000
      6,000 SF

      Gainesville, FL 32605

      MEDICAL BUILDING • 6,000 SF
      Gainesville, FL 32605
      View Details
    • Value Estimation by Request
      1,100 SF

      Gainesville, FL 32605

      MEDICAL BUILDING • 1,100 SF
      Gainesville, FL 32605
      View Details

    Similar Nearby for Sale

    • $159,500
      1,318 SF

      1,318 SF Medical Office For Sale

      1,318 SF Medical Office For Sale
      7109 NW 11th Pl , SUITE 2, Gainesville, FL 32605
      View Details
    • $729,000
      3,073 SF

      Gainesville Medical/Office Space For Sale

      3,073 SF medical/office space near Gainesville Health & Fitness.
      4741 NW 8Th Ave, Gainesville, FL 32605
      View Details
    • Contact for pricing
      5,964 SF

      Freestanding Medical Office Near Hospital

      Well-maintained medical office building near North Florida Regional Medical Center.
      1179 NW 64Th Ter, Gainesville, FL 32605
      View Details
    • $159,500

      Gainesville Medical Office For Sale

      1,318 SF medical office in West Gainesville, convenient location.
      7109 NW 11Th Pl, Gainesville, FL 32605
      View Details
    • Contact for pricing
      6,455 SF

      Freestanding Medical Office Near Hospital

      Well-maintained medical office building near North Florida Regional Medical Center.
      1179 NW 64Th Ter, Gainesville, FL 32605
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Gainesville Professional Office Space

      2,604± SF office space with high visibility and functionality.
      4960 Newberry Rd, Gainesville, FL 32605
      View Details
    • Contact for pricing

      Gainesville Commercial Space For Lease

      9,891 SF commercial space suitable for medical or professional offices.
      7000 NW 11Th Pl, Gainesville, FL 32605
      View Details
    • $12 SF/Yr
      7,250 SF

      Gainesville Freestanding Medical Office Space

      Well-designed medical office near HCA Healthcare, I-75, and Oaks Mall.
      1034 NW 57Th St, Gainesville, FL 32605
      View Details
    • $20 SF/Yr

      Gainesville Office Space For Rent

      9,891 SF Gainesville building near North Florida Regional Medical Center.
      7000 NW 11Th Pl, Gainesville, FL 32605
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4340 Newberry Rd
    Gainesville, FL 32605
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!