Current Use by Public Records
- Lifestyle centers
Property Details for 9360 Hwy
- Year built
- 1986
- Lot size
- 3.00 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 9,600 square foot retail center, located at 9360 Highway 441 in Ocala, Florida, presents a compelling investment opportunity. Currently boasting 100% occupancy across seven tenants including a vape shop, barber shop, cheese shop, nail salon, and others, this property offers immediate cash flow with a strong net operating income (NOI) of $113,000 and a 6.47% cap rate. The asking price is $1,700,000, translating to $177.08 per square foot. Built in 1986, the property sits on a three-acre lot and benefits from high visibility on Highway 441, experiencing over 32,000 vehicles per day. Leases are structured on a gross basis with a weighted average lease term (WALT) of 1.3 years, providing immediate upside potential through 5% rent increases upon renewal. The property's strategic location within a rapidly growing market is a key advantage. Ocala's population within a three-mile radius is 18,000, projected to increase by over 7% by 2028. The greater Ocala MSA currently supports over 239,000 residents. Further enhancing its value, the property includes additional developable land zoned B-5, accessible via a separate entrance, presenting significant expansion opportunities. The diverse tenant mix mitigates vacancy risk, making this a secure and profitable investment.
Value Estimations
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AI approach
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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
- -82.0822
- Latitude
- 29.0863
