24 Unit Fee Simple Entitled Site that includes Land, Construction Documents, and Building Permit with Sale. City has already reviewed and approved Construction Drawings but they need to be refreshed to update from 2021 Florida Building Code to recently adopted 2024 Florida Building Code. The Seller will update and re-submit drawings to get re-approved. Seller will deliver Shovel Ready Property.
Located in an Opportunity Zone in a rapidly evolving downtown. 4 new restaurants less than a block away are currently under construction.
City just approved Golf Cart usage in downtown. Nearby project with similar size units (302 Broadway) sold numerous units in 2022 with an average sale price at $355/sf. Recent Listing in 302 Broadway project was listed for $378/sf and went pending in only 4 days and closed. Current Listings for similar product vary from $380 - $446/sf. Develop the townhomes and sell for a profit margin exceeding other major cities including Orlando. City also allows short term rentals. Advent Health Ocala with 2,400 employees is located only one half mile away. Excellent Opportunity as either a For Sale or For Rent project.
Commission - 1.5% per Side (3% Total)