Income Property Near
For Sale
$1,179,000
2621 SW 33 Avenue, Ocala, FL 34474
Eight-unit income property near College of Central Florida.
Property Size5,236 SF
Price / SF$225.17
Days on Market191
Property Features for 2621 SW 33 Avenue
General Information
Standard status
Active
Size
5,236 SF
Property subtype
Commercial
Building Details
Year Built
1967
Listing Agency:
GREAT EXPECTATIONS REALTY,LLC
Listed By:
Andrea Proeber
(352) 817-1600
Source:
Realtygroupfl
Added: Apr 21
Changed: Oct 27
Last Checked: Oct 28 at 8:23AM
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 GREAT EXPECTATIONS REALTY,LLC
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Investment Insights
Based on property information with market context.
This eight-unit commercial property is located directly across from the College of Central Florida. It features a diversified income stream, with six units under long-term leases, one mid-term rental, and one short-term rental. The mid-term and short-term units are being conveyed fully furnished. The property is connected to the City of Ocala water and sewer, and an on-site well is available for exterior use. The roof was replaced March 18, 2025. The property offers income stability and future upside potential through rent optimization or operational improvements. Its proximity to a major educational institution enhances long-term desirability and occupancy strength.
Key Highlights
- Prime location directly across from the College of Central Florida, ensuring high visibility and consistent rental demand.
- Diversified income streams with a mix of long‑term, mid‑term, and short‑term rentals.
- Turnkey opportunity with fully furnished mid‑term and short‑term rental units for immediate income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,094
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,521,880
$1.5M
Cap Rate 7%
$1,087,057
$1.1M
Cap Rate 9%
$845,489
$845.5K
Market Conditions
NOI Build-Up for 5,236 SF
Gross rent
$147.7K $28.20/SF
− Vacancy
−$9.3K −$1.78/SF
EGI
$138.4K $26.42/SF
− OpEx
−$62.3K −$11.89/SF
NOI
$76.1K $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%
$1,521,880
Cap Rate 7%
$1,087,057
Cap Rate 9%
$845,489
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$951.2K – $1.27M
NOI $76,094 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,148 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,368
Businesses Nearby
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Business Placement
Demographics for 34474, FL
17,781
Population
9,207
Households
1.9
Avg Household Size
41
Median Age
31%
College-Educated
93%
High-School Grad
21.0 sq mi
ZIP Area
847
Density / Sq Mi
$62,150
Median Household Income
$36,422
Median Earnings
$1,605
Median Rent
$177,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit income property near College of Central Florida.
Where is this apartment building located?
The property is located at 2621 SW 33 Avenue Ocala, FL.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: Prime location directly across from the College of Central Florida, ensuring high visibility and consistent rental demand.; Diversified income streams with a mix of long‑term, mid‑term, and short‑term rentals.; Turnkey opportunity with fully furnished mid‑term and short‑term rental units for immediate income.
