Building Details

Year Built 1973

Buildings 2

Listing Agency: GRECO REAL ESTATE Show Phone

Listed By: Kelsey Duncan · License #3579696 Show Phone

Source: Exitrealty

Added: Nov 23, 2024 Changed: Sep 2 Last Checked: Sep 15 at 4:38AM

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Investment Insights

Based on property information with market context.

This quadplex consists of two duplex buildings on a single parcel, providing four well-built residential units totaling 3,024 square feet. Each unit offers two bedrooms and one bathroom, while in-unit laundry hookups add practical functionality. Two units are currently under renovation, and both buildings received new roofs in 2024.

The property is located at 403 NE 26th Court in Ocala, Florida. Shopping, golf, dining, and entertainment are nearby, with access to major highways also available. Built in 1973, the four-unit configuration provides a straightforward multifamily layout in northeast Ocala.

Key Highlights

• Four units across two duplex buildings on one parcel
• Four 2 bed, 1 bath units
• 3,024 SF total property size

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,947

Cap Rate

8.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$878,940 $878.9K

Cap Rate 7%

$627,814 $627.8K

Cap Rate 9%

$488,300 $488.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,024 SF

Gross rent

$85.3K $28.20/SF

− Vacancy

−$5.4K −$1.78/SF

EGI

$79.9K $26.42/SF

− OpEx

−$36.0K −$11.89/SF

NOI

$43.9K $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%

$878,940

Cap Rate 7%

$627,814

Cap Rate 9%

$488,300

Alternative Uses

Best Use

Apartment 5plus

$627.8K

$549.3K – $732.5K (±1% cap)

NOI $43,947 @ 7.0% cap · market cap 8.99%

Second Best

Multifamily LT 5

$624.4K

$546.3K – $728.4K (±1% cap)

NOI $43,705 @ 7.0% cap · market cap 8.94%

Theoretical Best

Office A

$1.65M

$1.44M – $1.93M (±1% cap)

NOI $115,593 @ 7.0% cap · market cap 23.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Parking Lot & Garage Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Garden Center Plumbing Service Fish Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

977

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 Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Two duplex buildings share one parcel and include in-unit laundry hookups.

Where is this quadplex located?

The property is located at 403 NE 26TH COURT Ocala, FL.

What is the asking price?

The asking price for this property is $489,000.

What are key features of this property?

This property features: Four units across two duplex buildings on one parcel; Four 2 bed, 1 bath units; 3,024 SF total property size