Flex Space with Porte
For Sale
$1,300,000
Pending
708 SW 2ND AVENUE, Ocala, FL 34471
Adaptable commercial building with climate-controlled and ventilated areas, FBC zoning, and dedicated on-site parking.
Property Size6,120 SF
Lot Size0.56 Acres
Days on Market519
Property Features for 708 SW 2ND AVENUE
General Information
Standard status
Pending
Size
6,120 SF
Total Parking Spaces
17
Lot size
0.56 Acres
Property subtype
Commercial/Industrial
Zoning
FBC
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$13,507
Amenities
climate-controlled spaces
ventilated spaces
porte chochere
Building Details
Year Built
2006
Buildings
1
Building Size
6,120 SF
Listing Agency:
NAI HERITAGE, LLC
Listed By:
Randal Buss · License #3105657
(352) 482-0777
Source:
Exitrealty
Added: Apr 3, 2025
Changed: Sep 2
Last Checked: Sep 2 at 4:24PM
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 NAI HERITAGE, LLC
Investment Insights
Based on property information with market context.
This 2006 flex property contains a 6,120-square-foot special-purpose building on 0.56 acres. The interior combines climate-controlled rooms with ventilated areas, creating a varied configuration that supports industrial and other operational uses. The sale includes the real estate, fixtures, furniture, and equipment associated with an existing cremation service that is consolidating operations.
The property is located near downtown at 708 SW 2nd Avenue in Ocala, Florida, with access to two parking lots providing 17 spaces. A drive-through porte cochere adds covered vehicle access to the building. The site is zoned FBC. The seller may vacate within 45 days, or within 90 days if the buyer requests removal of the fixtures and furniture before closing. A pre-need portfolio is also available separately.
The property is located near downtown at 708 SW 2nd Avenue in Ocala, Florida, with access to two parking lots providing 17 spaces. A drive-through porte cochere adds covered vehicle access to the building. The site is zoned FBC. The seller may vacate within 45 days, or within 90 days if the buyer requests removal of the fixtures and furniture before closing. A pre-need portfolio is also available separately.
Key Highlights
- 6,120‑square‑foot building on 0.56 acres
- FBC‑zoned flex property near downtown Ocala
- Mix of climate‑controlled and ventilated spaces
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
$87,091
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
6.70%
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%
$1,741,820
$1.7M
Cap Rate 7%
$1,244,157
$1.2M
Cap Rate 9%
$967,678
$967.7K
Market Conditions
NOI Build-Up for 7,592 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
$130.3K $17.16/SF
− Vacancy
−$5.9K −$0.77/SF
EGI
$124.4K $16.39/SF
− OpEx
−$37.3K −$4.92/SF
NOI
$87.1K $11.47/SF
Area
Marion County, FL
Vacancy
4.50%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$1,741,820
Cap Rate 7%
$1,244,157
Cap Rate 9%
$967,678
Alternative Uses
Best Use
Industrial
$1.24M
$1.09M – $1.45M
NOI $87,091 @ 7.0% cap · market cap 6.70%
Second Best
Flex RnD
$897.0K
$784.9K – $1.05M
NOI $62,788 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,206 @ 7.0% cap · market cap 22.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,782
Businesses Nearby
Well-served
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Ocalaqueen352 — Ocala, FL 34483
Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial building with climate-controlled and ventilated areas, FBC zoning, and dedicated on-site parking.
Where is this flex space located?
The property is located at 708 SW 2ND AVENUE Ocala, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 6,120‑square‑foot building on 0.56 acres; FBC‑zoned flex property near downtown Ocala; Mix of climate‑controlled and ventilated spaces
