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- LoopNet Team
1700 Se 17th St
Ocala, FL 34471
Regions Center · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Offered at below replacement cost of $200/SF.
- Approximately 57.6% of the building is leased to established creditworthy tenants.
- Excellent visibility and exposure from state road 464 with more than 33,500 cars passing by daily.
- 13,985± RSF lease up/release opportunity.
PROPERTY FACTS
AMENITIES
- Bus Line
- Security System
- Signage
- Air Conditioning
ABOUT 1700 SE 17TH ST , OCALA, FL 34471
The Property is superiorly located within Deerwood Professional Center office park, an area with more than 200,000 square feet of Class A and B office space within 0.25 miles. The Property carries an excellent reputation as being the nicest Class A office building in Ocala with outstanding visibility from State Road 464 (33,500+ AADT) and ample parking for a variety of tenants. Regions Center is being offered at a time where investors can purchase it as a rare value-add opportunity with significant upside potential. Regions Bank, which currently occupies the first and second floor, will completely vacate their 11,831-square-foot second floor space in May 2020. No other tenant is set to expire in the building until August 2021. Subsequently, the remaining in-place cash flows will provide stability to investors as they use their first hold year to re-lease the second floor in an extremely tight office area with just 5.6% vacancy.
PROPERTY TAXES
| Parcel Number | 28632-002-01 | Improvements Assessment | $5,064,047 |
| Land Assessment | $823,285 | Total Assessment | $5,887,332 |
PROPERTY TAXES
