1203 12Th St Ocala, FL 34471

This fee-simple, 17,407-square-foot flex industrial property in Ocala, Florida, presents a compelling value-add investment opportunity. Located at 1203 SW 12th St, this single-story, 1984-built building (renovated in 2019) sits on a 1.84-acre lot zoned M-1 Light Manufacturing, allowing for diverse uses including wholesale distribution, warehousing, R&D, and light manufacturing. The property features nine units, currently 78% occupied by five tenants under a gross lease with a remaining lease term averaging 1.8 years. The existing annual net operating income (NOI) is $137,009, with a pro-forma NOI of $183,934 projected, reflecting a current cap rate of 6.09% and a pro-forma cap rate of 8.17%. Significant upside potential exists through lease renewals at market rates (3% annual rent bumps), potential rent increases, and the possibility of passing on utility expenses (water and sewer) currently paid by the owner. The property boasts 38 parking spaces, a 13-foot ceiling height, and 3-phase power (400 Amp/240v). One unit is air-conditioned. Six units range from 1,250 to 2,500 square feet, offering flexibility for various tenant needs. The property's prime location offers easy access to US Hwy 301 and I-75, within two miles of downtown Ocala. The asking price is $2,250,000 ($129.26/sq ft). This property is an excellent choice for investors seeking strong returns in a thriving Ocala market.