Flex Space Building with Grade-Level
For Sale
$475,000
Pending
10858 Sw 91st Ave, Ocala, FL 34481
Flex space building zoned B-5 with multiple grade-level garage bays, office, restrooms, and ample on-site parking.
Property Size3,200 SF
Days on Market120
Property Features for 10858 Sw 91st Ave
General Information
Standard status
Pending
Size
3,200 SF
Zoning
B-5
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,303
Amenities
garage bays
office
restrooms
support space
Building Details
Buildings
1
Building Size
3,200 SF
Listing Agency:
GUS GALLOWAY REALTY INC
(352) 572-9109
Listed By:
Nolan Galloway, III · License #3057213
(352) 572-9109
Source:
Exprealty
Added: Apr 16
Changed: Aug 11
Last Checked: Aug 12 at 12:39PM
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 GUS GALLOWAY REALTY INC
Investment Insights
Based on property information with market context.
This flex space building offers a versatile garage-and-workspace layout designed for automotive, service, storage, contractor, and light industrial users. The property is zoned B-5 (Heavy Business) and features multiple grade-level garage bays along with a combination of garage/workspace areas, a small office, restrooms, and support space. The configuration supports both owner-users and investors seeking adaptable operating or income scenarios.
Located on a convenient corridor with easy access to major thoroughfares, the site is set up for practical daily operations. It provides ample on-site parking and straightforward ingress/egress, supporting smooth customer and vehicle access.
With its B-5 zoning and flexible interior configuration, the building is well-suited for a single-user operation or potential adaptation into a multi-tenant setup.
Located on a convenient corridor with easy access to major thoroughfares, the site is set up for practical daily operations. It provides ample on-site parking and straightforward ingress/egress, supporting smooth customer and vehicle access.
With its B-5 zoning and flexible interior configuration, the building is well-suited for a single-user operation or potential adaptation into a multi-tenant setup.
Key Highlights
- Multiple grade‑level garage bays for automotive, service, storage, and flex use
- Zoned B‑5 (Heavy Business) for commercial and light industrial uses
- Interior includes garage/workspace areas plus small office and 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
$36,709
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
7.73%
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%
$734,180
$734.2K
Cap Rate 7%
$524,414
$524.4K
Cap Rate 9%
$407,878
$407.9K
Market Conditions
NOI Build-Up for 3,200 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
$54.9K $17.16/SF
− Vacancy
−$2.5K −$0.77/SF
EGI
$52.4K $16.39/SF
− OpEx
−$15.7K −$4.92/SF
NOI
$36.7K $11.47/SF
Area
Marion County, FL
Vacancy
4.50%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$734,180
Cap Rate 7%
$524,414
Cap Rate 9%
$407,878
Alternative Uses
Best Use
Retail
$1.15M
$1.01M – $1.34M
NOI $80,484 @ 7.0% cap · market cap 16.94%
Second Best
Warehouse
$636.8K
$557.2K – $742.9K
NOI $44,575 @ 7.0% cap · market cap 9.38%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,321 @ 7.0% cap · market cap 25.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34481, FL
23,097
Population
14,183
Households
1.6
Avg Household Size
69
Median Age
29%
College-Educated
94%
High-School Grad
69.2 sq mi
ZIP Area
334
Density / Sq Mi
$54,639
Median Household Income
$30,917
Median Earnings
$1,154
Median Rent
$213,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space building zoned B-5 with multiple grade-level garage bays, office, restrooms, and ample on-site parking.
Where is this flex space located?
The property is located at 10858 Sw 91st Ave Ocala, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Multiple grade‑level garage bays for automotive, service, storage, and flex use; Zoned B‑5 (Heavy Business) for commercial and light industrial uses; Interior includes garage/workspace areas plus small office and restrooms
