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235 NE Watula Ave 15,791 SF Retail Building Ocala, FL 34470 $2,990,000 ($189.35/SF) 6.61% Cap Rate
EXECUTIVE SUMMARY
Midtown Station is a redeveloped property 1 block north of thriving Downtown Ocala. The large storefront facade overlooks covered patio seating and Tuscawilla park's large pond. This "activation" site is the anchor for the City's vision to make midtown a destination.
Completely renovated former Fire Station. All systems were refinished under a major demo and reconstructed in 2023 which included electrical, HVAC, all plumbing, roof, fire suppression, windows, etc. Current tenant is operating a brewery and bar with food hall and office space. Onsite parking includes a paved parking lot and use of grass parking area from City of Ocala.
The existing lease is a single-tenant agreement that includes subleases with various vendors (Owner occupied and preference is to remain as tenant). Depending on the buyer's preference and vision of the property, all or some of the current tenants could potentially remain in place.
Completely renovated former Fire Station. All systems were refinished under a major demo and reconstructed in 2023 which included electrical, HVAC, all plumbing, roof, fire suppression, windows, etc. Current tenant is operating a brewery and bar with food hall and office space. Onsite parking includes a paved parking lot and use of grass parking area from City of Ocala.
The existing lease is a single-tenant agreement that includes subleases with various vendors (Owner occupied and preference is to remain as tenant). Depending on the buyer's preference and vision of the property, all or some of the current tenants could potentially remain in place.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Sale Leaseback
Property Type
Building Size
15,791 SF
Year Built/Renovated
1975/2023
Price
$2,990,000
Price Per SF
$189.35
Cap Rate
6.61%
NOI
$197,760
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
1.08 AC
Zoning
FBC
Frontage
72’ on Watula
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- DOM PARTNERS, LLC D/B/A INFINITE ALE WORKS
- Accommodation and Food Services
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| DOM PARTNERS, LLC D/B/A INFINITE ALE WORKS | Accommodation and Food Services | - | $9.99 | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
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Greater Ocala Properties
235 NE Watula Ave
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