Commercial Property with Drive-Thru
For Sale
$649,900
12300 SE 135TH Ave, Ocklawaha, FL 32179
Versatile commercial building with drive-thru, ideal for various businesses.
Property Size3,774 SF
Lot Size0.50 Acres
Price / SF$162.48
Days on Market107
Property Features for 12300 SE 135TH Ave
General Information
Standard status
Active
Size
3,774 SF
Lot size
0.50 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,894
Building Details
Building Size
3,774 SF
Year Built
1980
Stories
1
Listing Agency:
ROUNTREE REALTY CORP.
(352) 816-2281
Listed By:
Seth Chester · License #3460746
(352) 816-2281
Source:
Elliman
Added: Apr 28
Changed: Aug 8
Last Checked: Aug 11 at 10:04AM
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 ROUNTREE REALTY CORP.
Investment Insights
Based on property information with market context.
Located at the intersection of HWY 25 and SE 135th Ave, this commercial property benefits from high visibility and traffic, with AADT counts exceeding 11,000. The property is situated near Lake Weir and across from local businesses. Zoned B-4 (Regional Business), the building offers nearly 4,000 square feet of flexible space suitable for office, retail, or service-based businesses. Currently configured as two separate units, each includes multiple offices, a kitchen, and a bathroom, making it suitable for dual occupancy or leasing. One unit, formerly a Citizens Bank suite, features a built-in vault, three private offices, and a teller area that can be converted into additional offices, retail space, or a reception area. The property includes three drive-through lanes suitable for banking, food service, or pharmacy use, along with a fully paved parking area spanning over half an acre. The B-4 zoning supports various uses, including professional offices, retail establishments, restaurants, financial institutions, and medical or dental offices. An additional one-third acre parcel, also commercially zoned, is available for potential expansion, additional parking, or new construction.
Key Highlights
- Prime location at the high‑traffic intersection of HWY 25 and SE 135th Ave (AADT > 11,000) near Lake Weir and established businesses.
- Zoned B‑4 (Regional Business) allowing for a wide range of commercial uses.
- Nearly 4,000 sq ft of flexible space configured as two separate units, each with multiple offices, kitchen, and bathroom.
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
$48,462
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
7.46%
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%
$969,240
$969.2K
Cap Rate 7%
$692,314
$692.3K
Cap Rate 9%
$538,467
$538.5K
Market Conditions
NOI Build-Up for 4,000 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
$68.2K $17.04/SF
− Vacancy
−$3.5K −$0.89/SF
EGI
$64.6K $16.15/SF
− OpEx
−$16.2K −$4.04/SF
NOI
$48.5K $12.12/SF
Area
Marion County, FL
Vacancy
5.20%
Lease Rate
$17.04 /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%
$969,240
Cap Rate 7%
$692,314
Cap Rate 9%
$538,467
Alternative Uses
Best Use
Office B
$1.48M
$1.29M – $1.72M
NOI $103,440 @ 7.0% cap · market cap 15.92%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,605 @ 7.0% cap · market cap 15.48%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,901 @ 7.0% cap · market cap 23.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 32179, FL
9,075
Population
5,204
Households
1.7
Avg Household Size
50
Median Age
13%
College-Educated
84%
High-School Grad
75.1 sq mi
ZIP Area
121
Density / Sq Mi
$48,214
Median Household Income
$31,453
Median Earnings
$1,075
Median Rent
$162,700
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.
Frequently Asked Questions
What type of property is this?
Bank - Versatile commercial building with drive-thru, ideal for various businesses.
Where is this bank located?
The property is located at 12300 SE 135TH Ave Ocklawaha, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Prime location at the high‑traffic intersection of HWY 25 and SE 135th Ave (AADT > 11,000) near Lake Weir and established businesses.; Zoned B‑4 (Regional Business) allowing for a wide range of commercial uses.; Nearly 4,000 sq ft of flexible space configured as two separate units, each with multiple offices, kitchen, and bathroom.
