Live-Work Property With Paint
For Sale
$550,000
236 NE 13th Pl, Ocala, FL 34470
Combined residence and workshop supports on-site living alongside automotive paint and body operations.
Property Size1,404 SF
Price / SF$391.74
Days on Market15
Property Features for 236 NE 13th Pl
General Information
Standard status
Active
Size
1,404 SF
Amenities
paint booth
window air conditioning
Building Details
Year Built
1953
Buildings
2
Listing Agency:
COLDWELL BANKER ELLISON REALTY O
(352) 812-4859
Listed By:
Zell Hall · License #530791
Source:
Livewelltampabay
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 3:46PM
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 COLDWELL BANKER ELLISON REALTY O
Investment Insights
Based on property information with market context.
This live-work property combines a rebuilt three-bedroom, two-bath residence with an office and workshop area. The home was reconstructed from the ground up using pressure-treated wood, with foamed insulation in the walls and attic. Window air conditioning serves the office portion.
The commercial area is configured for paint and body work and includes a certified paint booth with a fire-suppression system recently brought up to code. The booth can accommodate a pickup truck. The City of Ocala has allowed the residential home to remain with the office and workshop, creating a combined residential and commercial setup at 236 NE 13th Pl.
The commercial area is configured for paint and body work and includes a certified paint booth with a fire-suppression system recently brought up to code. The booth can accommodate a pickup truck. The City of Ocala has allowed the residential home to remain with the office and workshop, creating a combined residential and commercial setup at 236 NE 13th Pl.
Key Highlights
- Three‑bedroom, two‑bath residential component
- Office and workshop area with window A/C
- Certified paint booth accommodates a pickup truck
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
$36,308
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
6.60%
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%
$726,160
$726.2K
Cap Rate 7%
$518,686
$518.7K
Cap Rate 9%
$403,422
$403.4K
Market Conditions
NOI Build-Up for 1,404 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
$52.7K $37.56/SF
− Vacancy
−$4.3K −$3.08/SF
EGI
$48.4K $34.48/SF
− OpEx
−$12.1K −$8.62/SF
NOI
$36.3K $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%
$726,160
Cap Rate 7%
$518,686
Cap Rate 9%
$403,422
Alternative Uses
Best Use
Office B
$518.7K
$453.9K – $605.1K
NOI $36,308 @ 7.0% cap · market cap 6.60%
Second Best
Retail
$504.5K
$441.4K – $588.6K
NOI $35,313 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$766.7K
$670.9K – $894.5K
NOI $53,668 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
806
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?
Live-work space - Combined residence and workshop supports on-site living alongside automotive paint and body operations.
Where is this live-work space located?
The property is located at 236 NE 13th Pl Ocala, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bath residential component; Office and workshop area with window A/C; Certified paint booth accommodates a pickup truck
