Fenced Auto Shop With Hydraulic
New
For Sale
$450,000
460 NW 68TH, Ocala, FL 34482
Commercial automotive facility with fabrication capabilities, office space, and secured areas for vehicle and equipment storage.
Property Size2,402 SF
Days on Market6
Property Features for 460 NW 68TH
General Information
Standard status
Active
Size
2,402 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$2,303
Building Details
Building Size
2,402 SF
Year Built
1992
Listing Agency:
PEGASUS REALTY & ASSOC INC
(352) 789-5553
Listed By:
Lena B Sandlin · License #3523858
(352) 789-5553
Source:
Elliman
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 11:05PM
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 PEGASUS REALTY & ASSOC INC
Investment Insights
Based on property information with market context.
This automotive property comprises a 1-acre secured lot with a sliding gate, a block garage, and an overhang supporting repair and fabrication operations. Two hydraulic lifts are rated for 10,000 and 12,000 lb. The improvements also include a block office with a front entrance and full bathroom with shower, plus a storage container on a concrete pad and carport-covered areas for parking or storage.
Electrical service includes 600AMP capacity with 3/0 and single-phase power for welding and fabrication work. The property is positioned just off US Highway 40 near Ocala Armory and Bob’s Brakes in Ocala, Florida. Built in 1992, the facility is currently configured for garage, fabrication, and repair use. An owner may consider a 3-5 year lease for a qualified individual or business.
Electrical service includes 600AMP capacity with 3/0 and single-phase power for welding and fabrication work. The property is positioned just off US Highway 40 near Ocala Armory and Bob’s Brakes in Ocala, Florida. Built in 1992, the facility is currently configured for garage, fabrication, and repair use. An owner may consider a 3-5 year lease for a qualified individual or business.
Key Highlights
- 1‑acre fenced lot with sliding gate
- Hydraulic lifts rated at 10,000 and 12,000lb
- 600AMP 3/0 and single‑phase electrical service
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
$27,554
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
6.12%
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%
$551,080
$551.1K
Cap Rate 7%
$393,629
$393.6K
Cap Rate 9%
$306,156
$306.2K
Market Conditions
NOI Build-Up for 2,402 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
$41.2K $17.16/SF
− Vacancy
−$1.9K −$0.77/SF
EGI
$39.4K $16.39/SF
− OpEx
−$11.8K −$4.92/SF
NOI
$27.6K $11.47/SF
Area
Marion County, FL
Vacancy
4.50%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
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%
$551,080
Cap Rate 7%
$393,629
Cap Rate 9%
$306,156
Alternative Uses
Best Use
Retail
$863.1K
$755.2K – $1.01M
NOI $60,414 @ 7.0% cap · market cap 13.43%
Second Best
Industrial
$393.6K
$344.4K – $459.2K
NOI $27,554 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,817 @ 7.0% cap · market cap 20.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34482, FL
23,565
Population
9,553
Households
2.5
Avg Household Size
48
Median Age
22%
College-Educated
85%
High-School Grad
93.0 sq mi
ZIP Area
253
Density / Sq Mi
$71,449
Median Household Income
$37,492
Median Earnings
$861
Median Rent
$247,600
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?
Auto shop - Commercial automotive facility with fabrication capabilities, office space, and secured areas for vehicle and equipment storage.
Where is this auto shop located?
The property is located at 460 NW 68TH Ocala, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1‑acre fenced lot with sliding gate; Hydraulic lifts rated at 10,000 and 12,000lb; 600AMP 3/0 and single‑phase electrical service
