2221 S PINE AVENUE, Ocala, FL 34471

Building Details

Year Built 1985 More

Buildings 3 More

Tenancy Multi More

Listing Agency: PEGASUS REALTY & ASSOC INC Show Phone

Listed By: Sharon Will · License #3334350 Show Phone

Source: Endlesssummerrealty

Added: Aug 4 Changed: Nov 8 Last Checked: Nov 8 at 6:53AM

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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 PEGASUS REALTY & ASSOC INC

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Investment Insights

Based on property information with market context.

This mixed-use property includes three buildings arranged across three separate parcels, with office space and residential rental units. The improvements date to 1985 and contain a combined property size of 5,072 square feet. Units are reported as 100% occupied, with long-term tenants in place across the office and residential components.

The property is located at 2221 S Pine Avenue in Ocala, Florida, along U.S. Highway 441. Its position on South Pine Avenue places the three-parcel assemblage within the city and provides direct exposure to the highway corridor. The combination of multiple buildings, office and residential occupancy, and an established tenant base defines the property’s current mixed-use configuration.

Key Highlights

• Three buildings distributed across three parcels
• Office and residential rental units in one mixed‑use property
• 100% occupied units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$73,711

Cap Rate

5.28%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,474,220 $1.5M

Cap Rate 7%

$1,053,014 $1.1M

Cap Rate 9%

$819,011 $819.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,072 SF

Gross rent

$143.0K $28.20/SF

− Vacancy

−$9.0K −$1.78/SF

EGI

$134.0K $26.42/SF

− OpEx

−$60.3K −$11.89/SF

NOI

$73.7K $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%

$1,474,220

Cap Rate 7%

$1,053,014

Cap Rate 9%

$819,011

Alternative Uses

Best Use

Office B

$1.87M

$1.64M – $2.19M (±1% cap)

NOI $131,162 @ 7.0% cap · market cap 9.40%

Second Best

Apartment 5plus

$1.05M

$921.4K – $1.23M (±1% cap)

NOI $73,711 @ 7.0% cap · market cap 5.28%

Theoretical Best

Office A

$2.77M

$2.42M – $3.23M (±1% cap)

NOI $193,879 @ 7.0% cap · market cap 13.90%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Freestyle Hair Design Hair Salon Unique touch Barber Shop Members Only Barbershop Barber Shop Tiger Boom Lift ... Construction Company

Suggested Use

Top Pick HVAC Service Grocery & Convenience Store Electrical Service (Bike/Boat/Book/etc) Store Food Market Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,101

Businesses Nearby

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 Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Office and residential components support a fully occupied rental profile.

Where is this mixed-use property located?

The property is located at 2221 S PINE AVENUE Ocala, FL.

What is the asking price?

The asking price for this property is $1,395,000.

What are key features of this property?

This property features: Three buildings distributed across three parcels; Office and residential rental units in one mixed‑use property; 100% occupied units