2556 Silver Springs BlvdOcala, FL 34470

Property Details for 2556 Silver Springs Blvd

Year built

1991

Lot size

0.64 AC

Property size (Sq ft)

8,521 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of an 8,521 square foot storefront in Ocala, Florida, currently leased to Aaron's under a triple-net (NNN) lease. The property, built in 1991 and situated on a 0.64-acre lot, boasts a strong location at 2556 E Silver Springs Blvd, benefiting from high visibility and traffic counts exceeding 50,000 vehicles daily at the signalized intersection with Northeast 25th Avenue. The lease, commencing April 1, 2006, has a remaining term of approximately 1.6 years, followed by two five-year renewal options with a 5% rent increase every five years. The current asking price is $643,000, representing a price per square foot of $75.46 and an attractive 8.25% cap rate based on a net operating income (NOI) of $53,034. The property benefits from a strong tenant history, with Aaron's occupying the location since at least 2006. The surrounding area features a robust retail environment, including national brands such as Publix, Walmart, Lowe's, and numerous restaurants and banks. Furthermore, the area boasts a high average household income of $81,749 within three miles, projected to increase to $92,244 by 2028. This property offers a compelling combination of a stable tenant, strong location, and attractive financial metrics, making it an ideal addition to any investment portfolio. The property is a single-story building.

Location Insight

City

Ocala

County

Marion

State

Florida

Latitude

29.1873

Longitude

-82.1017

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