Investment Overview

Marcus & Millichap is pleased to present 2205 E Silver Springs Blvd. Ocala, FL 34470, an 8,107 SF unanchored multi-tenant retail building that sits upon an acre. 6,596 SF was built in 1954, and the construction for the newest, unfinished 1,511 SF started in 2021. Located on the hard corner of the fronting E Silver Springs Blvd, 27,500 Vehicles Per Day (VPD), and NE 22nd Ave., this property has five points of ingress/egress. The tenant mix consists of three local tenants and Verizon. Verizon expects to move into the new 1,511 SF when construction is completed, and the owner of Vape Express is slotted to back-fill their current space with a liquor store concept. With 81.4% occupancy, this value-add deal has an 8.89% cap rate achievable in Year 2 with a pro-forma lease-up of the under-construction add-on at $15/SF NNN and annual base rent increases of 5% with current in-place tenants. Additionally, we have the neighboring undeveloped property to the north listed for sale as well, 2222 NE 2nd St. Ocala, FL 34470, enabling an investor the opportunity to accumulate 2.32 acres of contiguous land fronting a primary retail artery in Ocala, FL, Silver Springs Blvd. There are 101,121 people within 5 miles of this property, with heavy commercial and residential housing, multi-family and single family, nearby.