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    Ocala Medical Park Office Space Title is generated by Realmo AI

    1500 S Magnolia Ave, Ocala, FL 34471

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    Medical office spaces available for lease in Ocala Medical Park.

    Type:Office
    Property size:
    2,930 SF
    Added:
    Jun 30, 2023
    Days on Market:
    1062
    Last Refresh:
    May 12 at 9:28 pm

    Property Features for 1500 S Magnolia Ave

    General Information

    Standard status
    Active
    Size
    2,930 SF
    Property subtype
    Office

    Spaces For Lease

    at 1500 S Magnolia Ave Contact us

    Unit 106 $23/Mo

    Size
    5,000 SF
    Type
    Office
    A prime Ocala location for these (2) 1465 SF units; Unit 201 and 202. Units are mirror...
    show more
    Contact us

    We can help!

    Listing Contact
    Erin Freel
    Erin Freel

    Listing agent Erin Freel License #FL 3431257

    Listing office The Boyd Group

    Listing date Jun 30, 2023

    Source Crexi

    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 The Boyd Group

    HighLights

    • Prime Ocala location within a medical park, highly desirable for medical services and professionals.
    • Close proximity to hospital.
    • Generous parking with 160 spaces.
    • Unit 101 offers a large lobby/waiting room, 5 exam rooms, 3 offices, a conference room, 2 bathrooms, storage and break room.
    • Units 201/202 are adjoining and can be leased together for a total of 2,930 SF, each with a spacious lobby, nurses workstation, 4 exam rooms, 2 closets, and 2 bathrooms.
    • All leases are gross leases, including electric.

    Overview

    Located in Ocala Medical Park off 17th Street, this complex is intended for medical services and professionals. The location is near a hospital and offers ample parking with 160 spaces. Unit 101 offers 2930 square feet, while Units 201 and 202 each provide 1465 square feet. Units 201 and 202 have a mirror image layout and are adjoining, allowing them to be leased together for a combined 2930 square feet. All leases are gross leases, including electric, but excluding air filter replacement and janitorial services. Units 201 and 202 each feature a lobby with reception area, a private nurse's workstation with sink, four exam rooms, two closets, and two bathrooms. Unit 101 includes a large lobby/waiting room and reception area, five exam rooms, three offices, a conference room, two bathrooms, storage, and a break room. The Ocala Metro area was ranked as the 10th safest, 6th fastest growing, and 16th best place to retire in the 2023 US News and World Report. The Ocala Metro also ranked #2 nationally in new single home construction per capita.
    Location Intelligence

    Current Use by Public Records

    Ocala Health Vascular ... Consultant Ocala Health Neurological ... Medical Clinic Rebecca B. Long, ... Physician Allergy & Asthma Care ... Physician Ocala Eye Ophthalmologist

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Ocala Veterinary Hospital — 316 SE 12th St, Ocala, FL 34471
    • Midtown Animal Clinic — 121 SW 8th St, Ocala, FL 34471
    • Brick City Cat Hospital — 702 S Magnolia Ave, Ocala, FL 34471
    • US Equine Direct Inc — Ocala, FL 34477
    • Molstad Meriam DVM — 702 S Magnolia Ave, Ocala, FL 34471

    Location Insight

    • Map
    • Local Demand
    City
    Ocala
    County
    Marion
    State
    Florida
    Longitude
    -82.136847
    Latitude
    29.201689

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    FAQs

    What type of property is this?
    Medical Office Space - Medical office spaces available for lease in Ocala Medical Park.
    Where is this medical office space located?
    The property is located at 1500 S Magnolia Ave Ocala, FL.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Prime Ocala location within a medical park, highly desirable for medical services and professionals.; Close proximity to hospital.; Generous parking with 160 spaces.
    (813) 478-1735 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Erin Freel
    Erin Freel
    Real Estate License ID: FL 3431257
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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