BASELINE PLAZA | 2416 SE 58th Ave
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BASELINE PLAZA 2416 SE 58th Ave
40,756 SF 100% Leased Retail Building Ocala, FL 34480 $5,100,000 ($125/SF) 7.13% Cap Rate
Investment Highlights
- Located in Florida, one of the few states with no state income tax, offering investors potential tax savings and increased net returns.
- Ocala’s booming economy, growing population, and demand for retail space position this asset within a thriving market.
- The property includes an outparcel ready for development, offering additional income potential and the flexibility to attract new tenants
- Current rental rates are below market, offering a strong opportunity for rent growth and increased cash flow as leases renew.
- The property’s current occupancy allows for income growth through lease-up and proactive management.
Executive Summary
INCOME TAX ADVANTAGE – Located in Florida, one of the few states with no state income tax, offering investors potential tax savings and increased net returns.
UPSIDE WITH UNDER-MARKET RENTS – Current rental rates are below market, offering a strong opportunity for rent growth and increased cash flow as leases renew.
HIGH-GROWTH OCALA MARKET – Ocala’s booming economy, growing population, and demand for retail space position this asset within a thriving market.
VALUE-ADD WITH CURRENT OCCUPANCY – The property’s current occupancy allows for income growth through lease-up and proactive management.
PRIME OUTPARCEL DEVELOPMENT OPPORTUNITY – The property includes an outparcel ready for development, offering additional income potential and the flexibility to attract new tenants or establish a high-demand use, further enhancing the Plaza’s value.
UPSIDE WITH UNDER-MARKET RENTS – Current rental rates are below market, offering a strong opportunity for rent growth and increased cash flow as leases renew.
HIGH-GROWTH OCALA MARKET – Ocala’s booming economy, growing population, and demand for retail space position this asset within a thriving market.
VALUE-ADD WITH CURRENT OCCUPANCY – The property’s current occupancy allows for income growth through lease-up and proactive management.
PRIME OUTPARCEL DEVELOPMENT OPPORTUNITY – The property includes an outparcel ready for development, offering additional income potential and the flexibility to attract new tenants or establish a high-demand use, further enhancing the Plaza’s value.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
40,756 SF
Building Class
B
Year Built
1991
Price
$5,100,000
Price Per SF
$125
Cap Rate
7.13%
NOI
$363,630
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.16
Lot Size
5.76 AC
Zoning
C2 - Commercial Business
Parking
196 Spaces (4.81 Spaces per 1,000 SF Leased)
Frontage
278 FT on Southeast 58th Avenue
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $1,448,624 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,448,624
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BASELINE PLAZA | 2416 SE 58th Ave
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