Two-Story Office
For Sale
$995,900
944 SILVER SPRINGS BOULEVARD, Ocala, FL 34470
Two-story office building with 6 private offices, conference room, two lobby areas, and on-site parking.
Property Size3,120 SF
Lot Size0.61 Acres
Price / SF$319.20
Days on Market451
Property Features for 944 SILVER SPRINGS BOULEVARD
General Information
Standard status
Active
Size
3,120 SF
Lot size
0.61 Acres
Property subtype
Office
Zoning
B2
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Office Units
6
Taxes and HOA fees
Annual Taxes
$6,442
Amenities
Central Air, A/C - Zone
3
245 X 114
City Road, Paved Road.
Building Details
Year Built
1927
Stories
2
Listing Agency:
COLDWELL BANKER ELLISON REALTY O
(352) 732-8350
Listed By:
Ryan Mulkey · License #3446605
Source:
Xome
Added: May 26, 2025
Changed: Aug 16
Last Checked: Aug 19 at 5:30AM
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 COLDWELL BANKER ELLISON REALTY O
Investment Insights
Based on property information with market context.
This two-story office building offers 3,120 square feet total under roof, featuring multiple office and common areas and historic architectural details. The interior includes solid original wood floors, high ceilings, built-ins, solid wood trim, and a full kitchen. Layout includes six total private offices, one office with a full private bathroom, four bathrooms, a large conference room, a dedicated workspace downstairs, two lobby areas, and dedicated closed storage.
The property sits on a parcel over half an acre with 114 feet of frontage on a main four-lane road. An illuminated sign is already in place on Silver Springs Boulevard, and the building includes a wood ramp for accessibility.
Zoned B2, the building is described as not being a registered historic building and can be removed, offering flexibility around the existing structure and sign improvements.
The property sits on a parcel over half an acre with 114 feet of frontage on a main four-lane road. An illuminated sign is already in place on Silver Springs Boulevard, and the building includes a wood ramp for accessibility.
Zoned B2, the building is described as not being a registered historic building and can be removed, offering flexibility around the existing structure and sign improvements.
Key Highlights
- 2‑story office building on Silver Springs Blvd (HWY 40) with 114 ft of frontage
- 3120 sq ft total under roof on a 0.61‑acre parcel with ample on‑site parking
- Layout includes 6 total private offices, 1 large conference room, and 2 lobby areas
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
$80,683
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
8.10%
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%
$1,613,660
$1.6M
Cap Rate 7%
$1,152,614
$1.2M
Cap Rate 9%
$896,478
$896.5K
Market Conditions
NOI Build-Up for 3,120 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
$117.2K $37.56/SF
− Vacancy
−$9.6K −$3.08/SF
EGI
$107.6K $34.48/SF
− OpEx
−$26.9K −$8.62/SF
NOI
$80.7K $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%
$1,613,660
Cap Rate 7%
$1,152,614
Cap Rate 9%
$896,478
Alternative Uses
Best Use
Office B
$1.15M
$1.01M – $1.34M
NOI $80,683 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,263 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,035
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
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Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with 6 private offices, conference room, two lobby areas, and on-site parking.
Where is this office building located?
The property is located at 944 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: 2‑story office building on Silver Springs Blvd (HWY 40) with 114 ft of frontage; 3120 sq ft total under roof on a 0.61‑acre parcel with ample on‑site parking; Layout includes 6 total private offices, 1 large conference room, and 2 lobby areas
