Specialty Flex Building on
For Sale
$149,900
12701 Nw 38th Ave, Reddick, FL 32686
Versatile 1-acre property with an auditorium, office, and restrooms plus storage buildings and RV hookup.
Property Size1,514 SF
Lot Size1.00 Acre
Price / SF$99.01
Days on Market361
Property Features for 12701 Nw 38th Ave
General Information
Standard status
Active
Size
1,514 SF
Lot size
1.00 Acre
Zoning
A1
Additional Details
Road Access
Yes
Listing Agency:
PREFERRED PROPERTIES OF CEN/FL
(352) 425-8416
Listed By:
Mark Daconta · License #3099925
(352) 425-8416
Source:
Exprealty
Added: Aug 16, 2025
Changed: Jul 10
Last Checked: Aug 11 at 10:32AM
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 PREFERRED PROPERTIES OF CEN/FL
Investment Insights
Based on property information with market context.
This 1,514-square-foot building on approximately 1 acre offers a flexible configuration designed to support multiple uses. The interior includes a large auditorium, an entry room, a business office, and two restrooms. Beyond the main structure, the property includes two storage buildings and has an RV hookup available.
The site is located on a paved country road in Reddick and includes part of the land that is uncleared with trees. The property backs up to additional acreage, providing additional privacy. Outdoor amenities include a well and septic servicing the site, and a large modular office trailer is also available for sale separately, if requested.
With A1 zoning, the building can be considered for uses such as a wedding venue and reception hall, a place of worship, a workshop, and/or storage. Buyers seeking a multifunction facility will also appreciate the existing auditorium and office components, along with on-site storage capacity and the option to incorporate the modular office trailer for additional working space.
The site is located on a paved country road in Reddick and includes part of the land that is uncleared with trees. The property backs up to additional acreage, providing additional privacy. Outdoor amenities include a well and septic servicing the site, and a large modular office trailer is also available for sale separately, if requested.
With A1 zoning, the building can be considered for uses such as a wedding venue and reception hall, a place of worship, a workshop, and/or storage. Buyers seeking a multifunction facility will also appreciate the existing auditorium and office components, along with on-site storage capacity and the option to incorporate the modular office trailer for additional working space.
Key Highlights
- 1,514 SF building on 1 acre of A1 property in Reddick with multiple‑use flexibility
- Building includes a large auditorium, entry room, business office, and two restrooms
- Two storage buildings on‑site plus an RV hookup
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
$12,521
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
8.35%
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%
$250,420
$250.4K
Cap Rate 7%
$178,871
$178.9K
Cap Rate 9%
$139,122
$139.1K
Market Conditions
NOI Build-Up for 1,514 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
$20.9K $13.80/SF
− Vacancy
−$1.6K −$1.08/SF
EGI
$19.3K $12.72/SF
− OpEx
−$6.7K −$4.45/SF
NOI
$12.5K $8.27/SF
Area
Marion County, FL
Vacancy
7.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
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%
$250,420
Cap Rate 7%
$178,871
Cap Rate 9%
$139,122
Alternative Uses
Best Use
Industrial
$248.1K
$217.1K – $289.5K
NOI $17,368 @ 7.0% cap · market cap 11.59%
Second Best
Flex RnD
$178.9K
$156.5K – $208.7K
NOI $12,521 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$826.8K
$723.4K – $964.6K
NOI $57,873 @ 7.0% cap · market cap 38.61%
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
51
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32686, FL
4,339
Population
2,691
Households
1.6
Avg Household Size
51
Median Age
16%
College-Educated
91%
High-School Grad
72.5 sq mi
ZIP Area
60
Density / Sq Mi
$46,793
Median Household Income
$30,265
Median Earnings
$862
Median Rent
$279,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile 1-acre property with an auditorium, office, and restrooms plus storage buildings and RV hookup.
Where is this flex space located?
The property is located at 12701 Nw 38th Ave Reddick, FL.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 1,514 SF building on 1 acre of A1 property in Reddick with multiple‑use flexibility; Building includes a large auditorium, entry room, business office, and two restrooms; Two storage buildings on‑site plus an RV hookup
