Two-Story Office
For Sale
$995,900
944 E SILVER SPRINGS Boulevard, Ocala, FL 34470
SINGLE_FAMILY - OCALA, FL
Property Size3,120 SF
Lot Size0.61 Acres
Price / SF$352.91
Days on Market446
Property Features for 944 E SILVER SPRINGS Boulevard
General Information
Property type
Residential
Property subtype
Office
Zoning
B2
Security features
Security System
Window features
Wood Frames, Blinds
Appliances
Dishwasher, Dryer, Microwave, Refrigerator
Subdivision
CALDWELLS ADD
Directions
From Ocala downtown square head east on Silver Springs BLVD. Office will be on right hand side.
Standard status
Active
APN
28383-001-00
Size
2,822 SF
Lot size
0.61 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SEC 17 TWP 15 RGE 22 PLAT BOOK E PAGE 19 CALDWELLS ADD OCALA BROWN & HARRIS SUB LOT 1 EXC THE E 1.14 FT & EXC S 19.8 FT & E 6 FT OF LOT 2 EXC S 19.8 FT
Tax Annual Amount
6442
Legal Description
SEC 17 TWP 15 RGE 22 PLAT BOOK E PAGE 19 CALDWELLS ADD OCALA BROWN & HARRIS SUB LOT 1 EXC THE E 1.14 FT & EXC S 19.8 FT & E 6 FT OF LOT 2 EXC S 19.8 FT
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating), Central
Cooling system
Zoned, Central Air
Water source
Public
Amenities
full kitchen
high ceilings
built-ins
solid wood trimmings
illuminated sign
grand entrance
wood ramp
conference room
Building Details
Year built
1927
Floors in Building
2
Building materials
Vinyl Siding, Frame, Wood Siding
Roof type
Metal
Listing Agency:
COLDWELL BANKER ELLISON REALTY O · Coldwell Banker Real Estate
(352) 732-8350
Listed By:
Ryan Mulkey · License #3446605
(352) 895-6055
Added: May 30, 2025
Changed: Aug 17
Last Checked: Aug 18 at 8:06AM
MLS# OM702846
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1927 office property occupies 0.61 acres and presents a two-level layout with six private offices, including one with a private bathroom. Interior features include original wood flooring, high ceilings, built-in cabinetry, substantial wood trim, a full kitchen, four bathrooms, a large conference room, a dedicated downstairs workspace, two lobby areas, and enclosed storage. A wood accessibility ramp serves the side of the building, while central and zoned heating and cooling support the interior. Public water and sewer are available.
The property fronts Silver Springs Boulevard, identified as U.S. Highway 40, with 114 feet of frontage and ample on-site parking. An illuminated sign is already installed along the boulevard. The building is not registered as historic, and the existing sign may be removed. B2 zoning applies.
The property fronts Silver Springs Boulevard, identified as U.S. Highway 40, with 114 feet of frontage and ample on-site parking. An illuminated sign is already installed along the boulevard. The building is not registered as historic, and the existing sign may be removed. B2 zoning applies.
Key Highlights
- 0.61‑acre office property with 114 feet of frontage on Silver Springs Boulevard (U.S. Highway 40)
- Six private offices, four bathrooms, one large conference room, and enclosed storage
- 1927 construction with original wood floors, high ceilings, built‑ins, and wood trim
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
$72,977
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
7.33%
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%
$1,459,540
$1.5M
Cap Rate 7%
$1,042,529
$1.0M
Cap Rate 9%
$810,856
$810.9K
Market Conditions
NOI Build-Up for 2,822 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
$106.0K $37.56/SF
− Vacancy
−$8.7K −$3.08/SF
EGI
$97.3K $34.48/SF
− OpEx
−$24.3K −$8.62/SF
NOI
$73.0K $25.86/SF
Area
Marion County, FL
Vacancy
8.20%
Lease Rate
$37.56 /SF/Yr
Expense Ratio
25.00%
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%
$1,459,540
Cap Rate 7%
$1,042,529
Cap Rate 9%
$810,856
Alternative Uses
Best Use
Office B
$1.04M
$912.2K – $1.22M
NOI $72,977 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,872 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
989
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - B2-zoned commercial property with private offices, conference space, parking, and an accessibility ramp.
Where is this office building located?
The property is located at 944 E SILVER SPRINGS Boulevard Ocala, FL.
What is the asking price?
The asking price for this property is $995,900.
What are key features of this property?
This property features: 0.61‑acre office property with 114 feet of frontage on Silver Springs Boulevard (U.S. Highway 40); Six private offices, four bathrooms, one large conference room, and enclosed storage; 1927 construction with original wood floors, high ceilings, built‑ins, and wood trim
