111 Sw Fort King Street, Ocala, FL 34471

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. Don’t 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 ****