Remodeled Office with Highway
5960 S PINE AVENUE Ocala, FL 34480
For Sale
$1,050,000
Pending
Remodeled office and storage on 1.84 acres with highway frontage.
Property Size1,300 SF
Lot Size1.84 Acres
Days on Market661
Property Features for 5960 S PINE AVENUE
General Information
Standard status
Pending
Size
1,300 SF
Lot size
1.84 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1984
Listing Agency:
MEADOWS REALTY, LLC
(352) 237-6400
Listed By:
Bert Meadows · License #0430844
(352) 237-6400
Source:
Exitrealty
Added: Oct 8, 2024
Changed: Jul 10
Last Checked: Jul 29 at 7:02AM
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 MEADOWS REALTY, LLC
Investment Insights
Based on property information with market context.
Located just south of Ocala, this property features a newly remodeled 1,300 square foot office building that includes 3 private offices, a conference room, a kitchen, and a bathroom, along with new A/C and heat. Additionally, there is an 800 square foot storage building. Both buildings are constructed of concrete block and have recent metal roofs, situated on a 1.84-acre parcel. The property is zoned B-5, B-4, and R-1, offering significant potential for various business uses, particularly given its previous use as a car lot. It is currently being used as a plant nursery. The location benefits from 217 feet of road frontage on highway 441 / 301 / 27, as well as a back entrance on SW 59th Street, ensuring excellent visibility and a traffic count of 29,000 vehicles per day. The parcel is fenced, enhancing security and usability.
Key Highlights
- High‑traffic location with 217 feet of frontage on Highway 441/301/27, seeing 29,000 vehicles per day.
- Versatile B‑5, B‑4, R‑1 zoning allows for various business uses.
- Newly remodeled 1,300 sf office featuring 3 private offices, conference room, kitchen, and bathroom, plus new A/C and heat.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.2k | $37.08 |
| − Vacancy | −$1.5k | −$1.15 |
| EGI | $46.7k | $35.93 |
| − OpEx | −$14.0k | −$10.78 |
| NOI | $32.7k | $25.15 |
1,300 SF · lease $37.08/SF/yr · vacancy 3.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$467.1K
$408.7K – $545.0K
NOI $32,697 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$709.9K
$621.2K – $828.2K
NOI $49,693 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled office and storage on 1.84 acres with highway frontage.
Where is this storefront property located?
The property is located at 5960 S PINE AVENUE Ocala, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: High‑traffic location with 217 feet of frontage on Highway 441/301/27, seeing 29,000 vehicles per day.; Versatile B‑5, B‑4, R‑1 zoning allows for various business uses.; Newly remodeled 1,300 sf office featuring 3 private offices, conference room, kitchen, and bathroom, plus new A/C and heat.
