Medical Office Nursing
For Sale
$12,475,000
1227 SW 17th Ave, Ocala, FL 34471
Renovated medical office property with a recently completed expansion and plumbing and electrical improvements.
Property Size41,204 SF
Lot Size4.84 Acres
Price / SF$302.76
Days on Market154
Property Features for 1227 SW 17th Ave
General Information
Standard status
Active
Size
41,204 SF
Class
A
Lot size
4.84 Acres
Property subtype
Office
Net Operating Income
$880,581
Building Details
Building Size
41,204 SF
Year Built
2008
Year Renovated
2024
Tenancy
Single
Listing Agency:
Franklin Street Tampa
(813) 951-7796
Listed By:
Anthony Suarez · License #FL #SL3390004
(813) 951-7796
Source:
Franklinst
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 4:10PM
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 Franklin Street Tampa
Investment Insights
Based on property information with market context.
This medical office property contains 41,204 square feet across 4.84 acres and operates exclusively as a nursing campus. The property includes a 28,673-square-foot primary building reconstructed as part of a recent expansion, with an additional 12,531 square feet completed in February 2024. Plumbing and electrical improvements were also completed during an earlier renovation program.
The property is located at 1227 SW 17th Ave in Ocala, Florida. Its campus configuration and educational medical use provide a specialized operating environment, while the recent expansion adds substantial additional building area. The property is offered with a new amended and restated lease and minimal landlord responsibilities.
The property is located at 1227 SW 17th Ave in Ocala, Florida. Its campus configuration and educational medical use provide a specialized operating environment, while the recent expansion adds substantial additional building area. The property is offered with a new amended and restated lease and minimal landlord responsibilities.
Key Highlights
- 41,204 SF medical office property on 4.84 AC
- 12,531 SF expansion completed in February 2024
- 28,673 SF primary building reconstructed as part of the expansion
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
$1,065,538
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
8.54%
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%
$21,310,760
$21.3M
Cap Rate 7%
$15,221,971
$15.2M
Cap Rate 9%
$11,839,311
$11.8M
Market Conditions
NOI Build-Up for 41,204 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
$1.55M $37.56/SF
− Vacancy
−$126.9K −$3.08/SF
EGI
$1.42M $34.48/SF
− OpEx
−$355.2K −$8.62/SF
NOI
$1.07M $25.86/SF
Area
Marion County, FL
Vacancy
8.20%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
25.00%
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%
$21,310,760
Cap Rate 7%
$15,221,971
Cap Rate 9%
$11,839,311
Alternative Uses
Best Use
Office B
$15.22M
$13.32M – $17.76M
NOI $1,065,538 @ 7.0% cap · market cap 8.54%
Second Best
Healthcare Medical
$7.02M
$6.14M – $8.19M
NOI $491,209 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$22.50M
$19.69M – $26.25M
NOI $1,575,034 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
Balanced
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated medical office property with a recently completed expansion and plumbing and electrical improvements.
Where is this medical office space located?
The property is located at 1227 SW 17th Ave Ocala, FL.
What is the asking price?
The asking price for this property is $12,475,000.
What are key features of this property?
This property features: 41,204 SF medical office property on 4.84 AC; 12,531 SF expansion completed in February 2024; 28,673 SF primary building reconstructed as part of the expansion
