Medical Office Building with PT
For Sale
$1,850,000
1109 SW 10th Street, Ocala, FL 34471
Former urgent care features exam rooms, a large physical therapy room, and multiple clinical support spaces for healthcare users.
Property Size9,400 SF
Lot Size1.57 Acres
Price / SF$196.81
Days on Market50
Property Features for 1109 SW 10th Street
General Information
Standard status
Active
Size
9,400 SF
Lot size
1.57 Acres
Property subtype
Office
Zoning
B4
Additional Details
Traffic Count
26,000 vehicles/day
Building Details
Year Built
1966
Listing Agency:
NAI Heritage
(352) 817-3860
Listed By:
Randy Buss, CCIM, SIOR · License #FL #BK3105657
(352) 817-3860
Source:
Naiglobal
Added: Jun 29
Changed: Jul 10
Last Checked: Aug 17 at 5:21AM
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 NAI Heritage
Investment Insights
Based on property information with market context.
A 9,400 SF medical office building built in 1966 and available for sale. The space is currently built out for healthcare use, with seven exam rooms with sinks, a large 30' x 26' physical therapy room, a conference room, procedure room, and a nurses station. Additional improvements include reception/front office areas, a large waiting room, and triage stations, along with trauma bays, providing a clinical layout suited to patient intake and treatment.
The property sits on 1.57 acres and is zoned B4. It also features high exposure with a large monument sign and an AADT of 26,000 cars per day (FDOT 2022). Parking is available at a ratio of 5.96 per 1,000 SF, supporting daily patient and staff visits. Floor diagrams are available upon request.
For buyers or operators seeking a turnkey clinical facility, the existing urgent care configuration can reduce buildout requirements compared with starting from a blank shell. The combination of exam space, physical therapy capacity, and dedicated support rooms makes the building practical for medical practices and related healthcare services that need multiple functional treatment areas and an efficient front-of-house waiting and reception flow.
The property sits on 1.57 acres and is zoned B4. It also features high exposure with a large monument sign and an AADT of 26,000 cars per day (FDOT 2022). Parking is available at a ratio of 5.96 per 1,000 SF, supporting daily patient and staff visits. Floor diagrams are available upon request.
For buyers or operators seeking a turnkey clinical facility, the existing urgent care configuration can reduce buildout requirements compared with starting from a blank shell. The combination of exam space, physical therapy capacity, and dedicated support rooms makes the building practical for medical practices and related healthcare services that need multiple functional treatment areas and an efficient front-of-house waiting and reception flow.
Key Highlights
- 9,400 SF former urgent care medical office building, zoned B4
- Built in 1966 on 1.57 acres (Parcel ID: 2849‑001‑002)
- Includes seven exam rooms with sinks, plus a large 30' x 26' physical therapy room
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
$112,061
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
6.06%
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%
$2,241,220
$2.2M
Cap Rate 7%
$1,600,871
$1.6M
Cap Rate 9%
$1,245,122
$1.2M
Market Conditions
NOI Build-Up for 9,400 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
$208.7K $22.20/SF
− Vacancy
−$21.9K −$2.33/SF
EGI
$186.8K $19.87/SF
− OpEx
−$74.7K −$7.95/SF
NOI
$112.1K $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%
$2,241,220
Cap Rate 7%
$1,600,871
Cap Rate 9%
$1,245,122
Alternative Uses
Best Use
Office B
$3.47M
$3.04M – $4.05M
NOI $243,085 @ 7.0% cap · market cap 13.14%
Second Best
Healthcare Medical
$1.60M
$1.40M – $1.87M
NOI $112,061 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$5.13M
$4.49M – $5.99M
NOI $359,318 @ 7.0% cap · market cap 19.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
26,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
2,903
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34471, FL
27,632
Population
12,071
Households
2.3
Avg Household Size
43
Median Age
36%
College-Educated
93%
High-School Grad
19.8 sq mi
ZIP Area
1,396
Density / Sq Mi
$60,283
Median Household Income
$37,565
Median Earnings
$1,225
Median Rent
$292,200
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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Frequently Asked Questions
What type of property is this?
Medical Office Space - Former urgent care features exam rooms, a large physical therapy room, and multiple clinical support spaces for healthcare users.
Where is this medical office space located?
The property is located at 1109 SW 10th Street Ocala, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 9,400 SF former urgent care medical office building, zoned B4; Built in 1966 on 1.57 acres (Parcel ID: 2849‑001‑002); Includes seven exam rooms with sinks, plus a large 30' x 26' physical therapy room
