Medical Office with
For Sale
Under Contract
$850,000
3235 SW 34TH Street, Ocala, FL 34474
Commercial Sale, OCALA, FL
Property Size4,700 SF
Lot Size0.09 Acres
Price / SF$180.85
Days on Market189
Property Features for 3235 SW 34TH Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OP
Subdivision
KJB CONDOS
Directions
From the I-75 and SR 200 interchange (Exit 350) in Ocala, take SR 200 (SW College Road) east toward Ocala and continue for approximately 2.5 miles. Turn right onto SW 27th Avenue and proceed for about half a mile, then turn left onto SW 34th Street. Continue for roughly 0.3 miles, and the property at 3235 SW 34th Street will be located on your right-hand side.
Standard status
Active Under Contract
APN
2372-4024102
Size
4,700 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEC 26 TWP 15 RGE 21 KJB CONDOMINIUM PER DECLARATION RECORDED IN OR BK 6592 PAGE 587 AND 1ST AMENDMENT RECORDED IN 6606 PAGE 547 UNIT 102 MORE FULLY DESC AS FOLLOWS: COM AT NLY MOST COR OF LOT 4 TH S 37-19-48 E 116.52 FT TO POB TH S 58-03-03 E 15.01 FT TH S 31-56-57 E 14.18 FT TH N 58-03-03 E 7.12 FT TH S 31-56-57 E 6.33 FT TH S 58-03-03 W 6.47 FT TH S 31-56-57 E 25.98 FT TH S 58-03-03 W .65 FT TH N 31-56-57 W 2.30 FT TH S 58-03-03 W 78.15 FT TH N 31-56-57 W 2.30 FT TH S 58-03-03 W .65 FT TH N 3 1-56-57 W 32.17 FT TH N 58-03-03 E .65 FT TH N 31-56-57 W 14.27 FT TH N 58-03-03 E 63.14 FT TO POB.
Tax Annual Amount
11370
Legal Description
SEC 26 TWP 15 RGE 21 KJB CONDOMINIUM PER DECLARATION RECORDED IN OR BK 6592 PAGE 587 AND 1ST AMENDMENT RECORDED IN 6606 PAGE 547 UNIT 102 MORE FULLY DESC AS FOLLOWS: COM AT NLY MOST COR OF LOT 4 TH S 37-19-48 E 116.52 FT TO POB TH S 58-03-03 E 15.01 FT TH S 31-56-57 E 14.18 FT TH N 58-03-03 E 7.12 FT TH S 31-56-57 E 6.33 FT TH S 58-03-03 W 6.47 FT TH S 31-56-57 E 25.98 FT TH S 58-03-03 W .65 FT TH N 31-56-57 W 2.30 FT TH S 58-03-03 W 78.15 FT TH N 31-56-57 W 2.30 FT TH S 58-03-03 W .65 FT TH N 3 1-56-57 W 32.17 FT TH N 58-03-03 E .65 FT TH N 31-56-57 W 14.27 FT TH N 58-03-03 E 63.14 FT TO POB.
Utilities
Cooling system
Central Air
Amenities
IT room
break room
ADA-compliant restrooms
Building Details
Year built
2004
Floors in Building
1
Building materials
Block, Brick, HardiPlank Type
Listing Agency:
GUS GALLOWAY REALTY INC
(352) 622-8127
Listed By:
Charles White · License #3361501
(727) 207-8292
Added: Mar 23
Changed: Aug 24
Last Checked: Sep 27 at 7:06AM
MLS# OM721308
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2004, this 4,161-square-foot medical office includes an additional 539-square-foot mezzanine within a 4,700-square-foot property. The interior provides a reception and lobby area, five procedure rooms, two private offices, three open work areas, and a conference room. An IT room, break room, and two ADA-compliant restrooms support daily operations, while central air serves the space.
The property is located at 3235 SW 34th Street in Ocala, Florida, with access to major Ocala corridors and surrounding retail, medical, and residential areas. OP zoning is in place, and the 0.09-acre site offers a compact setting for the existing professional office improvements.
The property is located at 3235 SW 34th Street in Ocala, Florida, with access to major Ocala corridors and surrounding retail, medical, and residential areas. OP zoning is in place, and the 0.09-acre site offers a compact setting for the existing professional office improvements.
Key Highlights
- 4,161 SF medical office plus a 539 SF mezzanine
- Five procedure rooms, two private offices, and three open work areas
- Large conference room, IT room, break room, and two ADA‑compliant restrooms
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
$56,031
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
6.59%
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%
$1,120,620
$1.1M
Cap Rate 7%
$800,443
$800.4K
Cap Rate 9%
$622,567
$622.6K
Market Conditions
NOI Build-Up for 4,700 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
$104.3K $22.20/SF
− Vacancy
−$11.0K −$2.33/SF
EGI
$93.4K $19.87/SF
− OpEx
−$37.4K −$7.95/SF
NOI
$56.0K $11.92/SF
Area
Marion County, FL
Vacancy
10.50%
Lease Rate
$22.20 /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%
$1,120,620
Cap Rate 7%
$800,443
Cap Rate 9%
$622,567
Alternative Uses
Best Use
Office B
$1.74M
$1.52M – $2.03M
NOI $121,542 @ 7.0% cap · market cap 14.30%
Second Best
Healthcare Medical
$800.4K
$700.4K – $933.9K
NOI $56,031 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$2.57M
$2.25M – $2.99M
NOI $179,659 @ 7.0% cap · market cap 21.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,402
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34474, FL
17,781
Population
9,207
Households
1.9
Avg Household Size
41
Median Age
31%
College-Educated
93%
High-School Grad
21.0 sq mi
ZIP Area
847
Density / Sq Mi
$62,150
Median Household Income
$36,422
Median Earnings
$1,605
Median Rent
$177,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Banfield Pet Hospital — 3500 SW College Rd, Ocala, FL 34474
- UF Pet Emergency Treatment Services, Ocala — 3200 SW 27th Ave # 103, Ocala, FL 34474
Frequently Asked Questions
What type of property is this?
Medical Office Space - Functional layout includes procedure rooms, private offices, and adaptable open work areas.
Where is this medical office space located?
The property is located at 3235 SW 34TH Street Ocala, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,161 SF medical office plus a 539 SF mezzanine; Five procedure rooms, two private offices, and three open work areas; Large conference room, IT room, break room, and two ADA‑compliant restrooms
