Cedarwood Apartment
1529 Northeast 39th Avenue, Ocala, FL 34470
For Sale
Contact for pricing
Multifamily property with R3 zoning and a 1978 construction date.
Property Size53,568 SF
Price / SF$175.48
Days on Market97
Property Features for 1529 Northeast 39th Avenue
General Information
Standard status
Size
Property subtype
Zoning
Net Operating Income
Building Details
Year Built
Buildings
Stories
Units
Abandoned
Listing Agency:
Marcus & Millichap - RPH Multifamily Group
Listed By:
Jason Hague · License FL SL3265708
(813) 387-4754
Source:
Crexi
Added: Aug 6
Changed: Nov 1
Last Checked: Nov 10 at 7:09AM
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 Marcus & Millichap - RPH Multifamily Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Cedarwood Apartments is an apartment building totaling 53,568 square feet. The property was constructed in 1978 and carries R3 zoning, supporting its classification as a multifamily asset.
The property is located at 1529 Northeast 39th Avenue in Ocala, Florida 34470. Its established construction date, apartment-building format, and multifamily zoning provide the core physical and land-use profile for evaluation.
The property is located at 1529 Northeast 39th Avenue in Ocala, Florida 34470. Its established construction date, apartment-building format, and multifamily zoning provide the core physical and land-use profile for evaluation.
Key Highlights
- 53,568‑square‑foot apartment building
- R3 zoning
- Constructed in 1978
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$778,497
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$15,569,940
$15.6M
Cap Rate 7%
$11,121,386
$11.1M
Cap Rate 9%
$8,649,967
$8.6M
Market Conditions
NOI Build-Up for 53,568 SF
Gross rent
$1.51M $28.20/SF
− Vacancy
−$95.2K −$1.78/SF
EGI
$1.42M $26.42/SF
− OpEx
−$637.0K −$11.89/SF
NOI
$778.5K $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 Rate 5%
$15,569,940
Cap Rate 7%
$11,121,386
Cap Rate 9%
$8,649,967
Alternative Uses
Best Use
Apartment 5plus
$11.12M
$9.73M – $12.97M
NOI $778,497 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$29.25M
$25.60M – $34.13M
NOI $2,047,652 @ 7.0% cap · market cap 21.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
90
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
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with R3 zoning and a 1978 construction date.
Where is this apartment building located?
The property is located at 1529 Northeast 39th Avenue Ocala, FL.
What is the asking price?
The asking price for this property is $9,400,000.
What are key features of this property?
This property features: 53,568‑square‑foot apartment building; R3 zoning; Constructed in 1978
