Concrete Block
For Sale
$295,000
Pending
3028/3030 NE 7TH LANE, Ocala, FL 34470
Tenant-occupied duplex with one renovated unit and municipal water and sewer service.
Property Size1,634 SF
Days on Market517
Property Features for 3028/3030 NE 7TH LANE
General Information
Standard status
Pending
Size
1,634 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,336
Building Details
Year Built
1968
Listing Agency:
DEACON AND SOLDIER PROPERTIES
(832) 455-9090
Listed By:
Rasha Elmallah · License #3338711
(832) 455-9090
Source:
Exitrealty
Added: Apr 2, 2025
Changed: Aug 29
Last Checked: Aug 30 at 3:03PM
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 DEACON AND SOLDIER PROPERTIES
Investment Insights
Based on property information with market context.
This tenant-occupied duplex includes two residential units within a concrete block structure. One unit has undergone a full rehabilitation, while the second is occupied by a long-term tenant. The property is connected to city water and sewer and was built in 1968.
The building contains 1,634 square feet of property area and is located in Ocala, Florida. Existing occupancy, updated space in one unit, and municipal utility connections provide clear physical and operational details for evaluating the asset.
The building contains 1,634 square feet of property area and is located in Ocala, Florida. Existing occupancy, updated space in one unit, and municipal utility connections provide clear physical and operational details for evaluating the asset.
Key Highlights
- Two‑unit duplex with tenant occupancy
- Concrete block construction
- One unit fully rehabilitated
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
$23,747
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
8.05%
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%
$474,940
$474.9K
Cap Rate 7%
$339,243
$339.2K
Cap Rate 9%
$263,856
$263.9K
Market Conditions
NOI Build-Up for 1,634 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
$46.1K $28.20/SF
− Vacancy
−$2.9K −$1.78/SF
EGI
$43.2K $26.42/SF
− OpEx
−$19.4K −$11.89/SF
NOI
$23.7K $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%
$474,940
Cap Rate 7%
$339,243
Cap Rate 9%
$263,856
Alternative Uses
Best Use
Apartment 5plus
$339.2K
$296.8K – $395.8K
NOI $23,747 @ 7.0% cap · market cap 8.05%
Second Best
Multifamily LT 5
$337.4K
$295.2K – $393.6K
NOI $23,616 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$892.3K
$780.8K – $1.04M
NOI $62,460 @ 7.0% cap · market cap 21.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,126
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied duplex with one renovated unit and municipal water and sewer service.
Where is this duplex located?
The property is located at 3028/3030 NE 7TH LANE Ocala, FL.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Two‑unit duplex with tenant occupancy; Concrete block construction; One unit fully rehabilitated
