Renovated Quadplex in SE
For Sale
$579,000
Pending
5355 SE 29TH Pl, Ocala, FL 34480
Turnkey quadplex with four 2-bedroom, 2-bath units.
Property Size3,417 SF
Days on Market111
Property Features for 5355 SE 29TH Pl
General Information
Standard status
Pending
Size
3,417 SF
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$7,302
Building Details
Building Size
3,417 SF
Year Built
1984
Units
4
Listing Agency:
WALDEN & CO REALTY LLC
(561) 644-2353
Listed By:
Maria Walden · License #3331161
(561) 644-2353
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Jul 23 at 11:16AM
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 WALDEN & CO REALTY LLC
Investment Insights
Based on property information with market context.
This fully renovated quadplex is located in SE Ocala and features four spacious 2-bedroom, 2-bath units. Each unit includes quartz countertops, updated light fixtures, and stainless steel appliances. The property also features central AC and heat, along with washer and dryer hookups in each unit. Tenants supply their own washer and dryers. There are four electric meters (City of Ocala) and four water meters (Marion utilities). Tenants pay a $41 monthly utility reimbursement for trash and septic maintenance. A shared septic system is in place. Three units are tenant-occupied, and the rent roll is available upon request. One unit is currently vacant. Each unit includes a private courtyard patio and backs up to a wooded area. The roof was updated in 2007. This property is suitable for investors or homeowners looking to live in one unit and rent out the other three.
Key Highlights
- Turnkey, fully renovated quadplex: Ready for immediate occupancy and rental income.
- Four spacious 2‑bedroom, 2‑bath units: Attractive to a wide range of tenants.
- Prime SE Ocala location: Desirable area for both homeowners and renters.
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
$49,659
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
8.58%
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%
$993,180
$993.2K
Cap Rate 7%
$709,414
$709.4K
Cap Rate 9%
$551,767
$551.8K
Market Conditions
NOI Build-Up for 3,417 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
$96.4K $28.20/SF
− Vacancy
−$6.1K −$1.78/SF
EGI
$90.3K $26.42/SF
− OpEx
−$40.6K −$11.89/SF
NOI
$49.7K $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 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%
$993,180
Cap Rate 7%
$709,414
Cap Rate 9%
$551,767
Alternative Uses
Best Use
Apartment 5plus
$709.4K
$620.7K – $827.7K
NOI $49,659 @ 7.0% cap · market cap 8.58%
Second Best
Multifamily LT 5
$705.5K
$617.3K – $823.1K
NOI $49,385 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,616 @ 7.0% cap · market cap 22.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 34480, FL
21,709
Population
9,864
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
35.2 sq mi
ZIP Area
617
Density / Sq Mi
$75,334
Median Household Income
$40,953
Median Earnings
$1,238
Median Rent
$248,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Turnkey quadplex with four 2-bedroom, 2-bath units.
Where is this quadplex located?
The property is located at 5355 SE 29TH Pl Ocala, FL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Turnkey, fully renovated quadplex: Ready for immediate occupancy and rental income.; Four spacious 2‑bedroom, 2‑bath units: Attractive to a wide range of tenants.; Prime SE Ocala location: Desirable area for both homeowners and renters.
