Industrial Building with Expansion
For Sale
Contact for pricing
3398 SW 74th Ave, Ocala, FL 34474
Freestanding industrial building with expansion land near Ocala Airport.
Property Size5,150 SF
Lot Size4.39 Acres
Price / SF$252.04
Days on Market155
Property Features for 3398 SW 74th Ave
General Information
Standard status
Active
Size
5,150 SF
Class
B
Lot size
4.39 Acres
Property subtype
Industrial
Zoning
M2
Occupancy
100%
Investment Type
Owner/User
Building Details
Year Built
2006
Buildings
1
Stories
1
Units
2
Listing Agency:
KW Commercial Cornerstone
Listed By:
Charles "Chuck" D Bortz Jr. · License #SL3356155
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 8 at 8:45AM
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 KW Commercial Cornerstone
Investment Insights
Based on property information with market context.
Located in the established Airport Industrial Park, this freestanding industrial building offers a strategically located opportunity to acquire a well-positioned commercial property with additional land and expansion potential. The property is situated just off SW 38th Street, in the immediate proximity of the Ocala International Airport and approximately 10 minutes from the World Equestrian Center. The building has 5150 square feet and is configured as two separate units, each with its own office, restroom, and utilities, making the property well-suited for an owner-user, contractor headquarters, or investment property with dual-occupancy potential. The building features concrete block construction and a slab foundation, with an interior bay height of 14 feet. Mezzanine storage areas are included in both bays. Each bay has one 12' x 12' overhead door in the front and one 12' x 12' overhead door in the rear, ideal for drive-through needs. One bay also includes an additional 12' x 12' overhead door in the front and one 12' x 8' door in the rear. Each bay also includes a front man door, rear man door, front window, and rear covered work area over two of the rear overhead and man doors. The rear of the building features a large covered metal awning approximately 20' x 75', providing substantial covered space for equipment staging, covered loading, material storage, and outdoor workspace. Additionally, behind the building is a 25' x 25' carport structure, open at the front end, providing additional covered storage or parking. The sale includes an adjoining vacant lot behind the building, providing egress to 3.74 acres of additional vacant land. This creates strong opportunities for contractor equipment yards, storage expansion, and future industrial development. The property includes 8 parking spaces plus 1 ADA parking space, asphalt roadway access, an asphalt driveway and parking area in front of the building, and curbing along the front. Chain-link fencing surrounds the property on three sides. The building includes a functional roof drainage system with front and rear gutters that discharge through downspouts, then through underground drainage lines. The front yard area is maintained, contributing to the property’s curb appeal.
Key Highlights
- 4.39 acres total, featuring a 5350 sq. ft. building and 3.74 acres of vacant land.
- Located in the Airport Industrial Park, near Ocala International Airport and the World Equestrian Center.
- The building is configured as two separate units, each with its own office, restroom, and utilities.
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
$71,738
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
5.53%
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%
$1,434,760
$1.4M
Cap Rate 7%
$1,024,829
$1.0M
Cap Rate 9%
$797,089
$797.1K
Market Conditions
NOI Build-Up for 5,150 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
$88.4K $17.16/SF
− Vacancy
−$4.0K −$0.77/SF
EGI
$84.4K $16.39/SF
− OpEx
−$12.7K −$2.46/SF
NOI
$71.7K $13.93/SF
Area
Marion County, FL
Vacancy
4.50%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
15.00%
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%
$1,434,760
Cap Rate 7%
$1,024,829
Cap Rate 9%
$797,089
Alternative Uses
Best Use
Warehouse
$1.02M
$896.7K – $1.20M
NOI $71,738 @ 7.0% cap · market cap 5.53%
Second Best
Industrial
$844.0K
$738.5K – $984.6K
NOI $59,078 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$2.81M
$2.46M – $3.28M
NOI $196,860 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial building with expansion land near Ocala Airport.
Where is this flex space located?
The property is located at 3398 SW 74th Ave Ocala, FL.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: 4.39 acres total, featuring a 5350 sq. ft. building and 3.74 acres of vacant land.; Located in the Airport Industrial Park, near Ocala International Airport and the World Equestrian Center.; The building is configured as two separate units, each with its own office, restroom, and utilities.
