Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1227 17th Ave Ocala, FL 34471-0536

    • Commercial real estate
    • 29,244 SF
    • 4.84 lot acres
    OFF-MARKET
    Last Sale
    Dec 30, 2021
    $2,700,000
    Value Estimations
    $2,695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3312469
    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

    • Rasmussen University - Ocala / Vocational School / Training Center

    Property Details for 1227 17th Ave

    Year built
    1975
    Construction
    STEEL FRAME
    Lot size
    4.84 lot acres
    Property size
    29,244 SF
    Zone code
    B4
    Property type
    Commercial real estate
    APN
    23656-014-00
    APU
    2365601400

    Description

    This exceptional investment opportunity presents a fee-simple ownership of a Class A, 41,204 square foot medical office building located at 1227 SW 17th Ave, Ocala, FL 34471. Currently operating as a Rasmussen University Nursing Campus under a new 10-year lease (commencing April 1, 2024, and expiring March 31, 2034), this property boasts a strong 6.80% cap rate and a substantial net operating income (NOI) of $880,581. The lease includes 2.5% annual rent bumps, providing consistent income growth, and two 5-year renewal options. The property features 225 parking spaces and sits on a 4.84-acre lot, zoned B4. Built in 1975 and renovated in 2008, this fully occupied (100%) facility is ideally suited for its current use, featuring medical-grade plumbing and electrical systems. The asking price is $12,950,000, translating to a price per square foot of $314.29. This prime location benefits from proximity to major hospital systems including UF Health, AdventHealth, HCA West Marion, and HCA Florida Ocala, further enhancing its investment appeal. The property's strategic location near The Villages, a large 55+ community, and an average household income of $97,090 within a 5-mile radius, contributes to its strong tenant base and long-term potential. This is a rare opportunity to acquire a high-performing, net-leased medical office building in a thriving Florida market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,480,000
      ML approach
      $2,515,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,090,000
      Market price range: $3.09M - $6.82M

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

    Location Insight

    • Map
    • Local Demand
    City
    Ocala
    County
    Marion
    State
    Florida
    Longitude
    -82.1531
    Latitude
    29.1748
    CBSA code
    36100
    CBSA name
    OCALA, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $46,389
    $210,830
    $2,004,030
    $2,214,860
    -
    $210,830
    $2,069,475
    $2,280,305

    Comparable in this City

    • Value Estimation by Request
      0.18 Acres

      125 2nd St

      COMMERCIAL (GENERAL) • 0.18 Acres
      125 2nd St, Ocala, FL 34471
      View Details
    • Value Estimation by Request
      0.63 Acres

      1133 18th Pl

      COMMERCIAL (GENERAL) • 0.63 Acres
      1133 18th Pl, Ocala, FL 34471-5410
      View Details
    • Value Estimation by Request
      0.24 Acres

      620 1st Ave

      COMMERCIAL (GENERAL) • 0.24 Acres
      620 1st Ave, Ocala, FL 34471-2154
      View Details
    • Value Estimation by Request
      0.30 Acres

      16 3rd St

      COMMERCIAL (GENERAL) • 0.30 Acres
      16 3rd St, Ocala, FL 34471
      View Details
    • Value Estimation by Request
      0.02 Acres

      Ocala, FL 34471

      COMMERCIAL (GENERAL) • 0.02 Acres
      Ocala, FL 34471
      View Details
    • Value Estimation by Request
      0.01 Acres

      Ocala, FL 34471

      COMMERCIAL (GENERAL) • 0.01 Acres
      Ocala, FL 34471
      View Details

    Similar Nearby for Sale

    • $285,000
      1.35 Acres

      Ocala Commercial Land - $285k

      1.35 Acres, O1 Zoning, Prime Location
      0 33Rd St, Ocala, FL 34471
      View Details
    • $2,500,000
      0.64 Acres

      Prime Ocala Retail Investment

      Class A Retail Building, High NOI
      1839 College Rd, Ocala, FL 34471
      View Details
    • $1,200,000
      1.70 Acres

      Ocala Development Opportunity

      1.7-Acre Mixed-Use Property, $1.2M
      1333 17Th St, Ocala, FL 34471
      View Details
    • $2,112,000
      4.04 Acres

      Ocala Commercial Land: Prime Retail Site

      4.04 Acres, B-2 Zoning, High Visibility
      2904 27Th Ave, Ocala, FL 34471
      View Details
    • $1,800,000
      5,691 SF

      Downtown Ocala Mixed-Use Building

      Prime Location, High-Growth Potential
      514 Magnolia Ave, Ocala, FL 34471
      View Details
    • $1,354,000
      6,213 SF

      311 29Th Pl, Ocala, FL 34471

      Office Properties & Spaces • 6,213 SF
      311 29Th Pl, Ocala, FL 34471
      View Details

    Similar Nearby for Lease

    • $203 SF/Yr
      2,128 SF

      Ocala Medical Office Space For Sale

      Prime 2,128 SF Medical Office in Ocala, FL
      3120 27Th Ave, Ocala, FL 34471
      View Details
    • $20 SF/Yr
      4,280 SF

      Ocala Retail & Office Space

      Prime Ocala location, flexible suites available
      2602 19Th Avenue Rd, Ocala, FL 34471
      View Details
    • $119,520

      Retail/Restaurant Space Near Key Foods

      Retail or restaurant space in prime location for lease.
      1927 SW College Rd, Ocala, FL 34471
      View Details
    • $13 SF/Yr
      5,700 SF

      Ocala Office Space For Rent

      Spacious office suites near downtown with ample parking.
      320 N Magnolia Ave, Ocala, FL 34471
      View Details
    • $49,200

      Gas Station and Retail Space

      Gas station and retail spaces available for lease near Lake Weir.
      3380 SE Lake Weir Ave, Ocala, FL 34471
      View Details
    • $800 /Mo
      300 SF

      Ocala Coworking & Executive Suites

      Coworking and executive office suites in a modern facility.
      2215 E Fort King St, Ocala, FL 34471
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1227 17th Ave
    Ocala, FL 34471-0536
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.