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111 SW Fort King Street

Ocala, FL 34471
  • $2,400,000
  • STATUS: Active
  • ON SITE: 50 Days
  • MLS #: S5075688
UPDATED: 197 min ago
$2,400,000
  • 0
    BEDS
  • 0.52
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:
Area:

School Ratings & Info

Description

**** This property is in a qualified Federal Opportunity Zone AND New Market Tax Credit Qualified **** Development Opportunity in Historic Downtown Ocala of 24 Micro Townhomes. Townhomes vary in size from 1,196 sf (20 Qty) to 1,246 sf (4 Qty). Each unit has 2 Bedrooms and 2.5 Bathrooms and a Private Garage. Residents in this future project will be able to walk to the numerous restaurants, shops, bars, movies and more. Shovel Ready Site: Sale Includes Land, Construction Drawings and Building Permit. Nearby Active Comps (Condo and Towmhome) vary from $351/sf - $391/sf with Units in the nearby 302 Broadway project Pending at $371/sf and $391/sf. Site/Project is located in an established Opportunity Zone as well as in the Downtown Community Redevelopment Agency (CRA) District. The Downtown CRA was been established/funded by the City of Ocala to provide financial incentives to owners to redevelop underutilized properties. Developers can receive CRA funds to use toward various project related expenses. Potential contributions to the Project include but are not limited to Public ROW Improvements, Public and Private Walkways, Hardscape, Landscape & Courtyards, Site Lighting, and more. Ideal as a For Sale project or even a For Rent Project. Advent Health Ocala is less than a mile from the site. Seller has Interest List with over 60 Potential Buyers that will be transferred with Sale. Seller Proforma estimates this project could result in a Net profit exceeding $3 million. Seller can provide contact information for General Contractor as well. Dont miss out on this incredible opportunity. This opportunity will go very quickly. The adjacent building will begin tenant finish next month for Mellow Mushroom, Shuckin' Shack and Mooyah. These new additions will add to the downtown vitality and valuations. In addition, a block away District Bar & Kitchen is under construction and progressing nicely. The Overview always included a few design options for the redevelopment of the site. NOTE: The Marketing Materials in this Listing identify the property address as 103 SW Fort King St. The actual address per the city of Ocala is 110 SW Fort King St. The address per Google Earth should you wish to view is 110 W Fort King St. The site is existing vacant land that shall soon have all city approvals and permits to be redeveloped into 24 townhomes. **** This property is in a qualified Federal Opportunity Zone AND New Market Tax Credit Qualified ****

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© 2022 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2022-12-02T23:46:24.123.
www.realestateportorange.com/homes/133926091
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111 SW Fort King Street Ocala, FL 34471

  • Price: $2,400,000
  • Status: Active
  • On Site: 50 Days
  • Updated: 197 min ago
  • MLS #: S5075688
0
Beds
0
Baths
0
½ Baths
0.52
Acres
Neighborhood:
Old Surv/Ocala
County:
Marion
Area:
Ocala
Property Description
**** This property is in a qualified Federal Opportunity Zone AND New Market Tax Credit Qualified **** Development Opportunity in Historic Downtown Ocala of 24 Micro Townhomes. Townhomes vary in size from 1,196 sf (20 Qty) to 1,246 sf (4 Qty). Each unit has 2 Bedrooms and 2.5 Bathrooms and a Private Garage. Residents in this future project will be able to walk to the numerous restaurants, shops, bars, movies and more. Shovel Ready Site: Sale Includes Land, Construction Drawings and Building Permit. Nearby Active Comps (Condo and Towmhome) vary from $351/sf - $391/sf with Units in the nearby 302 Broadway project Pending at $371/sf and $391/sf. Site/Project is located in an established Opportunity Zone as well as in the Downtown Community Redevelopment Agency (CRA) District. The Downtown CRA was been established/funded by the City of Ocala to provide financial incentives to owners to redevelop underutilized properties. Developers can receive CRA funds to use toward various project related expenses. Potential contributions to the Project include but are not limited to Public ROW Improvements, Public and Private Walkways, Hardscape, Landscape & Courtyards, Site Lighting, and more. Ideal as a For Sale project or even a For Rent Project. Advent Health Ocala is less than a mile from the site. Seller has Interest List with over 60 Potential Buyers that will be transferred with Sale. Seller Proforma estimates this project could result in a Net profit exceeding $3 million. Seller can provide contact information for General Contractor as well. Dont miss out on this incredible opportunity. This opportunity will go very quickly. The adjacent building will begin tenant finish next month for Mellow Mushroom, Shuckin' Shack and Mooyah. These new additions will add to the downtown vitality and valuations. In addition, a block away District Bar & Kitchen is under construction and progressing nicely. The Overview always included a few design options for the redevelopment of the site. NOTE: The Marketing Materials in this Listing identify the property address as 103 SW Fort King St. The actual address per the city of Ocala is 110 SW Fort King St. The address per Google Earth should you wish to view is 110 W Fort King St. The site is existing vacant land that shall soon have all city approvals and permits to be redeveloped into 24 townhomes. **** This property is in a qualified Federal Opportunity Zone AND New Market Tax Credit Qualified ****
Exterior Features

Covered Spaces 0 Current Adjacent Use Vacant Front Footage 100 Lot Features Corner Lot Lot Size Dimensions 100 X 98 Open Parking YN No Road Frontage Type City Street Road Surface Type Asphalt Water Access Yn No Water Extras Yn No Water View Yn No Waterfront Feet Total 0 Waterfront Yn No

Interior Features

Cooling YN No Heating YN Yes Sewer None Water Source None

Property Features

Association Yn No Current Use Residential Flood Zone Code X For Lease Yn No Listing Terms CashSpecial Funding Ownership Fee Simple Realtor Info As-Is Special Listing Conditions None Tax Annual Amount 4953 Total Annual Fees 0 Total Monthly Fees 0 Utilities Other Zoning Fbc


Listing information © 2022 My Florida Regional MLS DBA Stellar MLS..
Listing provided courtesy of Remax Premier Properties: 407-343-4245.



© 2022 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2022-12-02T23:46:24.123.
 
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Team Zimmerman | Adams Cameron & Co., Realtors
1100 Dunlawton Avenue
Port Orange FL, 12345