Industrial Building Near Ocala
For Sale
$1,298,000
3398 SW 74TH Ave, Ocala, FL 34474
Industrial building with expansion potential near Ocala International Airport.
Property Size5,350 SF
Lot Size0.65 Acres
Price / SF$242.62
Days on Market107
Property Features for 3398 SW 74TH Ave
General Information
Standard status
Active
Size
5,350 SF
Lot size
0.65 Acres
Property subtype
Industrial
Building Details
Year Built
2006
Listing Agency:
(352) 256-1207
Listed By:
Chuck Bortz, Jr
(352) 256-1207
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 7 at 3:13AM
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 Chuck Bortz, Jr
Investment Insights
Based on property information with market context.
Located in the Airport Industrial Park, this freestanding industrial building offers a commercial property with additional land and expansion potential. Situated just off SW 38th Street at 3398 SW 74th Avenue, the property sits on 0.65 acres with paved asphalt access. It is in proximity to the Ocala International Airport and approximately 10 minutes from the World Equestrian Center. The 5350 sq. ft. building is configured as two separate units, each with its own office, restroom, and utilities. The property is 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 and a freshly painted exterior. Both bays include mezzanine storage areas. Each bay has front and rear 12' x 12' overhead doors, front and rear man doors, and a front window. The right bay also includes an additional 12' x 12' overhead door in front and a 12' x 8' door in the rear. A large covered metal awning, approximately 20' x 75', at the rear of the building provides covered space for equipment staging, covered loading, material storage, and outdoor workspace. Additionally, a 25' x 25' carport structure offers additional covered storage or parking. Each unit operates independently with separate electric and water meters, 110 & 220 single-phase electric, public water supply, and a septic sewer system.
Key Highlights
- Prime Location: Near Ocala International Airport and in excellent proximity to the World Equestrian Center.
- Dual‑Occupancy Potential: Configured as two separate units, each with its own office, restroom, and utilities.
- Expansion Potential: Situated on 4.39 acres with additional land for future development.
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
$74,524
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
5.74%
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%
$1,490,480
$1.5M
Cap Rate 7%
$1,064,629
$1.1M
Cap Rate 9%
$828,044
$828.0K
Market Conditions
NOI Build-Up for 5,350 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
$91.8K $17.16/SF
− Vacancy
−$4.1K −$0.77/SF
EGI
$87.7K $16.39/SF
− OpEx
−$13.2K −$2.46/SF
NOI
$74.5K $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%
$1,490,480
Cap Rate 7%
$1,064,629
Cap Rate 9%
$828,044
Alternative Uses
Best Use
Warehouse
$1.06M
$931.6K – $1.24M
NOI $74,524 @ 7.0% cap · market cap 5.74%
Second Best
Industrial
$876.7K
$767.2K – $1.02M
NOI $61,372 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$2.92M
$2.56M – $3.41M
NOI $204,505 @ 7.0% cap · market cap 15.76%
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 - Industrial building with expansion potential near Ocala International 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: Prime Location: Near Ocala International Airport and in excellent proximity to the World Equestrian Center.; Dual‑Occupancy Potential: Configured as two separate units, each with its own office, restroom, and utilities.; Expansion Potential: Situated on 4.39 acres with additional land for future development.
