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Ocala Office/Medical Building For Sale

1731 SW 2ND AVENUE Ocala, FL 34471

1731 SW 2ND AVENUE, Ocala, FL, 34471

$995,000

For Sale

$995,000

Stand-alone, renovated two-story office/medical building with ample parking.

Property Size5,405 SF

Lot Size0.63 Acres

Price / SF$184.09

AddedMar 1, 2024

Days on Market866

Last RefreshJul 15 at 11:20 am

Property Features for 1731 SW 2ND AVENUE

General Information

Standard status: Active
Size: 5,405 SF
Lot size: 0.63 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 2003

Listing office KORR REALTY CORP

Listing date Mar 1, 2024

Source Exitrealty

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 KORR REALTY CORP

Investment Insights

Based on property information with market context.

This stand-alone two-story office/medical building is located in Ocala. The building, situated on over half an acre of land, includes an over-sized parking lot with 26 individual parking spaces. The property is zoned B-2. The building is in great condition inside and out, and has been newly renovated. The layout includes conference room(s), two reception areas, and break rooms. The second floor features 8-10 rooms suitable for executive offices, along with several additional office spaces. The main floor offers a break room, board room, and multiple exam rooms or offices. The layout allows for potential leasing of part of the building. The property has four 2018 HVAC systems. The building is located off S Pine Ave, near 441 and 17th, and is also near hospitals, restaurants, and medical offices. The property size is 5405 square feet.

Key Highlights

Prime location in the heart of Ocala, near S Pine Ave, hospitals, restaurants, and medical offices.
B‑2 Zoning allows for a wide range of business and commercial uses.
Recently renovated building in great condition, inside and out.

Local Financial Insights For Healthcare Medical

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$120.0k	$22.20
− Vacancy	−$12.6k	−$2.33
EGI	$107.4k	$19.87
− OpEx	−$43.0k	−$7.95
NOI	$64.4k	$11.92

5,405 SF · lease $22.20/SF/yr · vacancy 10.50% · expense 40.00%

Alternative Uses

Best Use

Office B

$2.00M

$1.75M – $2.33M (±1% cap)

NOI $139,774 @ 7.0% cap · market cap 14.05%

Second Best

Healthcare Medical

$920.5K

$805.4K – $1.07M (±1% cap)

NOI $64,435 @ 7.0% cap · market cap 6.48%

Theoretical Best

Office A

$2.95M

$2.58M – $3.44M (±1% cap)

NOI $206,608 @ 7.0% cap · market cap 20.76%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Pain Dr. Ocala Physician Danny J Mclaughlin Physician Ulseth Robert N ... Physician Agda Hart Physician

Suggested Use

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For sale
Medical Office Space
FL
Ocala
34471
1731 SW 2ND AVENUE

What type of property is this?

Medical Office Space - Stand-alone, renovated two-story office/medical building with ample parking.

Where is this medical office space located?

The property is located at 1731 SW 2ND AVENUE Ocala, FL.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Prime location in the heart of Ocala, near S Pine Ave, hospitals, restaurants, and medical offices.; B‑2 Zoning allows for a wide range of business and commercial uses.; Recently renovated building in great condition, inside and out.