2556 Silver Springs Blvd Ocala, FL 34470
- Retail properties
- 8,521 SF
- 0.64 lot acres
Current Use by Public Records
- Aaron's Rent To Own / Furniture Store / Appliance Rental Service
Property Details for 2556 Silver Springs Blvd
- Year built
- 1991
- Lot size
- 0.64 lot acres
- Property size
- 8,521 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of an 8,521 square foot storefront in Ocala, Florida, currently leased to Aaron's under a triple-net (NNN) lease. The property, built in 1991 and situated on a 0.64-acre lot, boasts a strong location at 2556 E Silver Springs Blvd, benefiting from high visibility and traffic counts exceeding 50,000 vehicles daily at the signalized intersection with Northeast 25th Avenue. The lease, commencing April 1, 2006, has a remaining term of approximately 1.6 years, followed by two five-year renewal options with a 5% rent increase every five years. The current asking price is $643,000, representing a price per square foot of $75.46 and an attractive 8.25% cap rate based on a net operating income (NOI) of $53,034. The property benefits from a strong tenant history, with Aaron's occupying the location since at least 2006. The surrounding area features a robust retail environment, including national brands such as Publix, Walmart, Lowe's, and numerous restaurants and banks. Furthermore, the area boasts a high average household income of $81,749 within three miles, projected to increase to $92,244 by 2028. This property offers a compelling combination of a stable tenant, strong location, and attractive financial metrics, making it an ideal addition to any investment portfolio. The property is a single-story building.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ocala
- County
- Marion
- State
- Florida
- Longitude
- -82.1017
- Latitude
- 29.1873
