Four-Unit Quadplex
For Sale
$489,000
Pending
403 NE 26TH COURT, Ocala, FL 34470
Two duplex buildings share one parcel and include in-unit laundry hookups.
Property Size3,024 SF
Days on Market646
Property Features for 403 NE 26TH COURT
General Information
Standard status
Pending
Size
3,024 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,094
Amenities
in-unit laundry hook ups
Building Details
Year Built
1973
Buildings
2
Listing Agency:
GRECO REAL ESTATE
(813) 897-3877
Listed By:
Kelsey Duncan · License #3579696
(813) 897-3877
Source:
Exitrealty
Added: Nov 23, 2024
Changed: Aug 31
Last Checked: Aug 31 at 6:00PM
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 GRECO REAL ESTATE
Investment Insights
Based on property information with market context.
This quadplex consists of two duplex buildings on a single parcel, providing four well-built residential units totaling 3,024 square feet. Each unit offers two bedrooms and one bathroom, while in-unit laundry hookups add practical functionality. Two units are currently under renovation, and both buildings received new roofs in 2024.
The property is located at 403 NE 26th Court in Ocala, Florida. Shopping, golf, dining, and entertainment are nearby, with access to major highways also available. Built in 1973, the four-unit configuration provides a straightforward multifamily layout in northeast Ocala.
The property is located at 403 NE 26th Court in Ocala, Florida. Shopping, golf, dining, and entertainment are nearby, with access to major highways also available. Built in 1973, the four-unit configuration provides a straightforward multifamily layout in northeast Ocala.
Key Highlights
- Four units across two duplex buildings on one parcel
- Four 2 bed, 1 bath units
- 3,024 SF total property size
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
$43,947
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
8.99%
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%
$878,940
$878.9K
Cap Rate 7%
$627,814
$627.8K
Cap Rate 9%
$488,300
$488.3K
Market Conditions
NOI Build-Up for 3,024 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
$85.3K $28.20/SF
− Vacancy
−$5.4K −$1.78/SF
EGI
$79.9K $26.42/SF
− OpEx
−$36.0K −$11.89/SF
NOI
$43.9K $14.53/SF
Area
Marion County, FL
Vacancy
6.30%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
45.00%
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%
$878,940
Cap Rate 7%
$627,814
Cap Rate 9%
$488,300
Alternative Uses
Best Use
Apartment 5plus
$627.8K
$549.3K – $732.5K
NOI $43,947 @ 7.0% cap · market cap 8.99%
Second Best
Multifamily LT 5
$624.4K
$546.3K – $728.4K
NOI $43,705 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,593 @ 7.0% cap · market cap 23.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
Explore this area
Business Placement
Demographics for 34470, FL
20,483
Population
10,121
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
90%
High-School Grad
13.4 sq mi
ZIP Area
1,529
Density / Sq Mi
$49,592
Median Household Income
$36,957
Median Earnings
$1,124
Median Rent
$171,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex buildings share one parcel and include in-unit laundry hookups.
Where is this quadplex located?
The property is located at 403 NE 26TH COURT Ocala, FL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Four units across two duplex buildings on one parcel; Four 2 bed, 1 bath units; 3,024 SF total property size
