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    Property profile & analytics

    121 Watula Ave Ocala, FL 34470

    • Commercial real estate
    • 2,237 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7063552
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Ocala Planning / City Government Office

    Property Details for 121 Watula Ave

    Property size
    2,237 SF
    Property type
    Commercial real estate

    Description

    Exceptional opportunity to acquire seven exquisitely designed, three-story townhomes in the heart of Ocala, Florida. Located at 121 SE Watula Ave, 34470, this owner-occupied community offers two distinct floor plans, each boasting three bedrooms and 3.5 bathrooms, totaling 2,237 square feet. The asking price is $825,000, translating to $368.80 per square foot. These high-end luxury townhomes feature rear entry and a neighborhood courtyard, creating a charming, walkable community. The property is zoned residential and benefits from its prime location within a vibrant, revitalized downtown area. Nearby amenities include over 100 eateries, retail stores, service providers, the Marion Theater, Tuscawilla Park, and the Reilly Center. This unique offering presents a compelling investment in a thriving urban redevelopment zone. The property's proximity to downtown Ocala's rich history and amenities provides an unparalleled lifestyle and investment potential. The community's design evokes a sense of classic charm while incorporating modern conveniences and finishes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ocala
    County
    Marion
    State
    Florida
    Longitude
    -82.067952
    Latitude
    29.2001796

    Comparable in this City

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      Pad Ready Ocala Land

      4.74 acres near downtown Ocala, ready for development.
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    • $575,000

      Ocala Townhomes with Vaulted Ceilings

      Two-story townhomes in Ocala near Silver Springs State Park.
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      Modern Ocala Office Building For Sale

      Two-story office building with ample parking in Ocala, Florida.
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    Similar Nearby for Sale

    • $750,000
      1.91 Acres

      Tarbell Road Industrial Spaces

      Versatile warehouse/flex space available.
      3280 Silver Springs Blvd, Ocala, FL 34470
      View Details
    • $2,722,000
      5,119 SF

      Net-Leased Retail Asset For Sale

      Single-tenant retail property with long-term corporate lease and built-in rent growth.
      3135 E Silver Springs Blvd, Ocala, FL 34470
      View Details
    • $7,250,000
      28,000 SF

      Downtown Ocala Office Building

      Historic Office Building, High ROI Potential
      101 Silver Springs Blvd, Ocala, FL 34470
      View Details
    • $850,000

      Pad Ready Ocala Land

      4.74 acres near downtown Ocala, ready for development.
      NW 20Th St, Ocala, FL 34470
      View Details
    • $575,000

      Ocala Townhomes with Vaulted Ceilings

      Two-story townhomes in Ocala near Silver Springs State Park.
      2826 NE 7Th St, Ocala, FL 34470
      View Details
    • $1,399,600

      Modern Ocala Office Building For Sale

      Two-story office building with ample parking in Ocala, Florida.
      202 NE 8Th Ave, Ocala, FL 34470
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
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      Ocala Retail Space for Lease

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      NE Ocala Office Space Available

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    • $15,852 /Mo

      Retail Space on NE 14th

      1,321 SF retail space in high-traffic Ocala location.
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      Ocala Retail Space For Lease

      Prime Ocala retail space, 1400 sq ft.
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    121 Watula Ave
    Ocala, FL 34470
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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.

    More about this property
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