4141 37Th PlGainesville, FL 32606

Property Details for 4141 37Th Pl

Year built

1994

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.18 AC

Property size (Sq ft)

8,000 SF

Zone code

PD

Property type

Office properties

Property subtype

Office buildings

APN

06110-002-001

APU

6110002001

Description

This exceptional 8,000 square foot office building, located at 4141 NW 37th Pl in Gainesville, Florida (32606), presents a compelling investment opportunity. The property, constructed in 1994, boasts a beautiful brick and stucco exterior and sits on a 0.18-acre lot. Currently operating at 100% occupancy, the building is leased to a blue-chip tenant with a lease expiring in April 2024, and includes one remaining three-year option. The asking price is $1,250,000, representing a price per square foot of $156.25 and a 5.34% cap rate. The property is zoned PD and features a single story design. Significant recent improvements include a new roof installed in 2017, extensive interior renovations by the tenant, and exterior painting completed in 2018. The building is comprised of two suites that can be easily separated, making it ideal for both investors and owner-occupiers. Its prime location in the desirable NW 39th Avenue and Millhopper area of Gainesville further enhances its appeal. Detailed financial proformas and suite breakdowns are available upon request. This is a rare opportunity to acquire a high-quality, well-maintained office building in a thriving Gainesville location. The property's strong tenant history and recent upgrades make it an attractive investment with significant potential for future returns.

• CAP approach

  CAP return

  Valuation

  6%

  $1,727,600

  6.5%

  $1,594,708

  7%

  $1,480,800

• Comparable approach

  Method

  Valuation

  Relative Method

  $544,080

  Geo Method

  $544,080

• Alternative Use

  Use

  Valuation

  Residential

  $1,977,438

  Hospitality

  $1,811,322

  Educational

  $1,506,999

  Medical

  $1,558,827

  Retail

  $2,344,220

Location Insight

City

Gainesville

County

Alachua

State

Florida

Latitude

29.6871

Longitude

-82.3879

CBSA code

23540

CBSA name

GAINESVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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