Commercial Land with Existing
For Sale
$465,000
1921 NE 8TH ROAD, Ocala, FL 34470
Two contiguous parcels combine an improved site with adjacent vacant land for expansion or redevelopment.
Property Size1,070 SF
Days on Market134
Property Features for 1921 NE 8TH ROAD
General Information
Standard status
Active
Size
1,070 SF
Property subtype
Commercial
Zoning
B4
Taxes and HOA fees
Annual Taxes
$1,889
Building Details
Building Size
1,070 SF
Year Built
1950
Listing Agency:
EXP REALTY LLC
(352) 250-8681
Listed By:
Monica McDonald · License #3378363
(352) 250-8681
Source:
Mbifloridarealty
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 30 at 5:35PM
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 EXP REALTY LLC
Investment Insights
Based on property information with market context.
This commercial land offering consists of two contiguous parcels totaling approximately 0.90± acres, with each parcel measuring approximately 0.45± acres. One parcel contains an existing residential structure built in 1950, while the adjoining parcel is vacant and can accommodate additional parking, expansion, new construction, or redevelopment. The property carries a B-4 zoning designation and includes approximately 289 feet of frontage along NW 8th Road.
Located at 1921 NE 8th Road in Ocala, the site is within the City of Ocala and is positioned near established residential neighborhoods and surrounding commercial development. The existing structure may be suitable for conversion to a professional office, daycare facility, medical practice, counseling center, boutique retail business, or another permitted commercial use.
Located at 1921 NE 8th Road in Ocala, the site is within the City of Ocala and is positioned near established residential neighborhoods and surrounding commercial development. The existing structure may be suitable for conversion to a professional office, daycare facility, medical practice, counseling center, boutique retail business, or another permitted commercial use.
Key Highlights
- Two contiguous parcels totaling approximately 0.90± acres
- Approximately 289 feet of frontage along NW 8th Road
- B‑4 zoning designation
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
$27,670
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
5.95%
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%
$553,400
$553.4K
Cap Rate 7%
$395,286
$395.3K
Cap Rate 9%
$307,444
$307.4K
Market Conditions
NOI Build-Up for 1,070 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
$40.2K $37.56/SF
− Vacancy
−$3.3K −$3.08/SF
EGI
$36.9K $34.48/SF
− OpEx
−$9.2K −$8.62/SF
NOI
$27.7K $25.86/SF
Area
Marion County, FL
Vacancy
8.20%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
25.00%
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%
$553,400
Cap Rate 7%
$395,286
Cap Rate 9%
$307,444
Alternative Uses
Best Use
Office B
$395.3K
$345.9K – $461.2K
NOI $27,670 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$584.3K
$511.3K – $681.7K
NOI $40,901 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
576
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two contiguous parcels combine an improved site with adjacent vacant land for expansion or redevelopment.
Where is this commercial land located?
The property is located at 1921 NE 8TH ROAD Ocala, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two contiguous parcels totaling approximately 0.90± acres; Approximately 289 feet of frontage along NW 8th Road; B‑4 zoning designation
