Medical Spa Office Building with NNN
For Sale
Contact for pricing
2139 NE 2nd St Ocala, Ocala, FL 34470
Turnkey, fully leased medical spa office building with a new 10-year absolute triple net lease and scheduled escalations through 2035.
Property Size3,634 SF
Price / SF$316.46
Days on Market432
Property Features for 2139 NE 2nd St Ocala
General Information
Standard status
Active
Size
3,634 SF
Class
B
Property subtype
Office
Zoning
RO-R3
Occupancy
100%
Investment Type
Sale/Leaseback
Building Details
Year Built
1986
Year Renovated
2013
Buildings
2
Listing Agency:
Akin Realty Company
Listed By:
Fran Akin · License #BK544440
(352) 266-7795
Source:
Crexi
Added: Jul 2, 2025
Changed: Aug 8
Last Checked: Jul 23 at 8:40AM
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 Akin Realty Company
Investment Insights
Based on property information with market context.
This turnkey medical spa office building is fully leased and offered as an absolute triple net investment. The property totals 3,634 square feet on 1.04 acres and was originally constructed in 1986, with major renovations completed in 2013. A new 10-year absolute triple net lease is in place with Lifestyle Solutions MedSpa, an operator that has been operating at this same location since 2004.
The lease includes annual escalations through 2035, along with four additional 5-year extension options. The building is located in the 2nd Street Professional Center and is described as being near retail establishments, banking facilities, dining options, and residential neighborhoods.
Zoned RO & R-3 in Marion County, the tenant operates multiple locations and the offering notes that tenant operations must not be disturbed during the showing and sale process.
The lease includes annual escalations through 2035, along with four additional 5-year extension options. The building is located in the 2nd Street Professional Center and is described as being near retail establishments, banking facilities, dining options, and residential neighborhoods.
Zoned RO & R-3 in Marion County, the tenant operates multiple locations and the offering notes that tenant operations must not be disturbed during the showing and sale process.
Key Highlights
- 3,634 SF medical spa office building on 1.04 acres, fully leased under a new 10‑year absolute triple net lease
- Tenant has operated at the same location since 2004; lease includes annual escalations through 2035 plus four 5‑year extension options
- Building constructed in 1986 with major renovations completed in 2013
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
$93,975
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
8.17%
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%
$1,879,500
$1.9M
Cap Rate 7%
$1,342,500
$1.3M
Cap Rate 9%
$1,044,167
$1.0M
Market Conditions
NOI Build-Up for 3,634 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
$136.5K $37.56/SF
− Vacancy
−$11.2K −$3.08/SF
EGI
$125.3K $34.48/SF
− OpEx
−$31.3K −$8.62/SF
NOI
$94.0K $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%
$1,879,500
Cap Rate 7%
$1,342,500
Cap Rate 9%
$1,044,167
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.57M
NOI $93,975 @ 7.0% cap · market cap 8.17%
Second Best
Healthcare Medical
$618.9K
$541.5K – $722.0K
NOI $43,322 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.98M
$1.74M – $2.32M
NOI $138,911 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Balanced
Demand for This Use
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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Similar Off Market Nearby
- Therapeutic Touch Aesthetics and Bodywork — 2119 E Fort King St, Ocala, FL 34471
- Element Spin Studio — 2633 E Silver Springs Blvd, Ocala, FL 34470
- Loving Arms Birth and Wellness Center — 1111 NE 25th Ave Ste 201, Ocala, FL 34470
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Turnkey, fully leased medical spa office building with a new 10-year absolute triple net lease and scheduled escalations through 2035.
Where is this spa & wellness property located?
The property is located at 2139 NE 2nd St Ocala Ocala, FL.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,634 SF medical spa office building on 1.04 acres, fully leased under a new 10‑year absolute triple net lease; Tenant has operated at the same location since 2004; lease includes annual escalations through 2035 plus four 5‑year extension options; Building constructed in 1986 with major renovations completed in 2013
