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1601 NE 25TH Ave
Ocala, FL 34470
Skylark Plaza · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 86,011 Rentable Square Foot Mixed-Use Plaza | Situated on Large 10.62 Acre Parcel
- Currently Leased to 11 Tenants with Most Offering Annual Rent Increases
- Recent 24,050 SF Vacancy Offers Flexibility for New Anchor Tenant(s) or Subdividing and Pushing Rental Rates on Smaller Units
- Heavy Value-Add Potential Through Lease-Up & Below Market Rent | 71% Occupied and Rents 40% Below Market on Average (Per Costar)
- Priced Well Below Replacement Cost at $66/SF
- Strong Mix of Government, Medical & Retail Tenants
EXECUTIVE SUMMARY
Introducing SKYLARK PLAZA, located at 1601 NE 25th Avenue, Ocala, Florida 34470, a prime investment opportunity. This 86,011 Rentable Square Foot Mixed-Use Plaza sits on a spacious 10.62 acre parcel with substantial value-add potential. Currently 71% occupied with rents 40% below market average, there is an opportunity for significant growth through lease-ups. The property boasts a diverse tenant mix including government, medical, and retail occupants, providing stability and potential for increased revenue. Recent capital expenditures, such as interior renovations and roof replacements, ensure the property is well-maintained. With recent vacancies offering flexibility for new anchor tenants or subdivision, this plaza presents a fantastic opportunity for investors looking to capitalize on its strategic location and strong fundamentals. Don't miss out on owning a piece of the thriving commercial landscape in Ocala, Florida.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
86,011 SF
Building Class
B
Year Built
1986
Price
$7,825,428 CAD
Price Per SF
$90.98 CAD
Cap Rate
8%
NOI
$626,034 CAD
Percent Leased
71%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
10.62 AC
Zoning
B-2 - Business Commercial
Parking
427 Spaces (4.96 Spaces per 1,000 SF Leased)
Frontage
PROPERTY TAXES
| Parcel Number | 26879-001-04 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $4,328,134 CAD |
PROPERTY TAXES
Parcel Number
26879-001-04
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$4,328,134 CAD
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