Live-Work Property with Paint
New
For Sale
$550,000
236 NE 13TH, Ocala, FL 34470
Combined residence and automotive workspace support on-site living alongside vehicle-related operations.
Property Size1,404 SF
Days on Market3
Property Features for 236 NE 13TH
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,624
Amenities
paint booth
foamed insulation
central air/heat
window A/C
Building Details
Building Size
1,404 SF
Year Built
1953
Listing Agency:
Ellison Realty, Inc.
Listed By:
Zell Hall · License #530791
(352) 812-4859
Source:
Elliman
Added: Sep 1
Last Checked: Sep 1 at 9:28PM
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 Ellison Realty, Inc.
Investment Insights
Based on property information with market context.
This live-work property combines a rebuilt residential home with a separate office and automotive work area. The home provides three bedrooms and two bathrooms, with central air and heat. Its reconstruction included pressure-treated wood along with foam insulation in the walls and attic.
The office and work area includes window A/C and a professional certified paint booth sized to accommodate a pickup truck. The booth’s fire-suppression system has been brought up to code, supporting automotive repair and refinishing activity within the commercial portion of the property. The address is in Ocala, Florida, with a Bike Score of 59, Walk Score of 40, and Transit Score of 23.
The office and work area includes window A/C and a professional certified paint booth sized to accommodate a pickup truck. The booth’s fire-suppression system has been brought up to code, supporting automotive repair and refinishing activity within the commercial portion of the property. The address is in Ocala, Florida, with a Bike Score of 59, Walk Score of 40, and Transit Score of 23.
Key Highlights
- Three‑bedroom, two‑bathroom residential home
- Rebuilt home with pressure‑treated wood and foam insulation in walls and attic
- Separate office and automotive work area
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
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 automotive workspace support on-site living alongside vehicle-related operations.
Where is this live-work space located?
The property is located at 236 NE 13TH 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‑bathroom residential home; Rebuilt home with pressure‑treated wood and foam insulation in walls and attic; Separate office and automotive work area
