For Sale
$1,495,900

1412 Magnolia AveOcala, FL 34475

13,000+ SF, B5 Zoned, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 13,732 square foot (13,424 net rentable) commercial property, located at 1412 N Magnolia Ave in Ocala, Florida, presents a unique investment opportunity. Boasting a prime location in the revitalized North Magnolia district, near Downtown Ocala, this two-story building sits on a 0.7-acre corner lot and is zoned B5, allowing for a wide range of uses. Originally built in 1941, the structure was largely rebuilt in 1987 following a fire, featuring solid tilt-wall construction. The property includes a ground-floor restaurant/bakery with air conditioning, kitchen, walk-in coolers, and ample seating, plus a spacious warehouse area. Upstairs, three large offices and a new bathroom provide additional functional space. The 20-foot ceilings and abundant natural light create a versatile environment suitable for various businesses, including restaurants, bars, event spaces, or warehouse operations. Recent improvements include a new roof (August 2021, excluding a small section), updated electrical within the last three years, and a new security system with cameras and monitors. A separate, smaller space with its own entrance and bathroom offers potential for a secondary business. The property currently enjoys 100% occupancy (as of August 7, 2023) and generates a net operating income (NOI) of $84,000 annually, representing a 5.62% cap rate. The asking price is $1,495,900 ($108.94 per square foot). The seller is willing to transfer the established business name, goodwill, and family recipes to the buyer if desired. Adjacent parcels totaling 1.31 acres may also be available.

Highlights

  • 13,732 SF (13,424 RSF) commercial building on a 0.7-acre corner lot in Ocala, FL's revitalized North Magnolia district.
  • B5 zoning allows for diverse commercial uses.
  • Features a ground-floor restaurant/bakery with kitchen, coolers, and ample seating, plus a spacious warehouse area and three upstairs offices.
  • Recent improvements include a new roof (2021, excluding a small section), updated electrical, and a new security system.
  • 100% occupied (as of August 7, 2023), generating $84,000 annual NOI (5.62% cap rate). Asking price: $1,495,900 ($108.94/SF).

Property Details for 1412 Magnolia Ave

Property type
Retail properties, Restaurants
Square Feet
13,732 SF
Year Renovated
1987
Stories
2
Lot Size (sq. ft)
30,492 SF

Location Insight

City
Ocala
County
Marion
State
Florida
Latitude
29.200885329111
Longitude
-82.136379010381
1412 Magnolia Ave, Ocala, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1412 Magnolia Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message