Prime Commercial Property on
For Sale
$645,000
420 SE 17TH St, Ocala, FL 34471
Two detached buildings ideal for medical or office use.
Property Size3,877 SF
Lot Size0.37 Acres
Days on Market272
Property Features for 420 SE 17TH St
General Information
Standard status
Active
Size
3,877 SF
Lot size
0.37 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,109
Building Details
Building Size
3,877 SF
Year Built
1943
Stories
1
Listing Agency:
(813) 415-5500
Listed By:
Martha Hoffman · License #695296
(813) 415-5500
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 26 at 12:43PM
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 Martha Hoffman
Investment Insights
Based on property information with market context.
This commercial property features two detached, stand-alone buildings with access and parking on both 17th Street and 17th Place. Zoned for residential office use, the property benefits from high visibility with over 17,000 cars passing daily. The layout includes 16 offices or exam rooms, multiple storage options, 4 full bathrooms, and 2 kitchens. The flexible floor plans can accommodate various business operations and requirements, making it ideal for a medical practice, insurance company, or other business office operations. The property is located across from Publix, Quest Labs, Long Horn, and Ale House. Formerly the home of a community medical practice, the property also offers a redevelopment option to build a 2-story, 5,000 square foot building with ingress from 17th Street and egress through 17th Place.
Key Highlights
- Owner financing available.
- High‑visibility location on 17th Street** with 17,000+ daily car count.
- Residential office zoning suitable for various business operations (medical, insurance, etc.).
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
$46,219
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
7.17%
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%
$924,380
$924.4K
Cap Rate 7%
$660,271
$660.3K
Cap Rate 9%
$513,544
$513.5K
Market Conditions
NOI Build-Up for 3,877 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
$86.1K $22.20/SF
− Vacancy
−$9.0K −$2.33/SF
EGI
$77.0K $19.87/SF
− OpEx
−$30.8K −$7.95/SF
NOI
$46.2K $11.92/SF
Area
Marion County, FL
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
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%
$924,380
Cap Rate 7%
$660,271
Cap Rate 9%
$513,544
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.67M
NOI $100,259 @ 7.0% cap · market cap 15.54%
Second Best
Healthcare Medical
$660.3K
$577.7K – $770.3K
NOI $46,219 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,199 @ 7.0% cap · market cap 22.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,539
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 34471, FL
27,632
Population
12,071
Households
2.3
Avg Household Size
43
Median Age
36%
College-Educated
93%
High-School Grad
19.8 sq mi
ZIP Area
1,396
Density / Sq Mi
$60,283
Median Household Income
$37,565
Median Earnings
$1,225
Median Rent
$292,200
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?
Medical Office Space - Two detached buildings ideal for medical or office use.
Where is this medical office space located?
The property is located at 420 SE 17TH St Ocala, FL.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Owner financing available.; High‑visibility location on 17th Street** with 17,000+ daily car count.; Residential office zoning suitable for various business operations (medical, insurance, etc.).
