64K+ SF REDEVELOPMENT OPPORTUNITY NEAR I-75!

Hospitality for Sale
Catylist Listing ID: 30776711
Property Subtypes: Hotel, Inn
Number of Units: 1 Units
Building Size (RSF): 64,357 SF
Gross Building Area: See Agent
Gross Land Area: 2.66 SF
Sale Price: $4,750,000
Unit Price: $4,750,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: Golden Palms Inn & Suites
Name of Establishment: Golden Palms Inn & Suites
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/28/2022

Overview / Comments

Take advantage of this prime redevelopment opportunity centered at the growth of Marion County! The subject property is a two-story, double-row, exterior-corridor motel. The motel is comprised of (115) rooms with a manager's apartment, (94) regular rooms in (20 rooms currently unavailable), (5) double-room 2-bath suites, (1) jacuzzi suite, and (15) rooms that are not leasable at this time. The location is situated on 2.66 acres with zoning of B2 (community business) and at the northeast corner of Interstate 75 and Blitchton Road (27). Within a couple of miles from this investment property is the distribution HUB for Amazon, FedEx, Chewy and AutoZone Distribution Centers. Shands Teaching Hospital & Clinics from UF Health will begin construction on a 261,000 SF Neighborhood Hospital Complex on the 28 acres surrounding the subject property to meet the needs of residents in the Marion County area. This asset is also located 6.7 miles from the newly developed World Equestrian Center, 5.5 miles from greater Ocala Highway 200 retail corridor, and only 4 miles from downtown Ocala. Housing data provides strong opportunity for the redevelopment of Multi Family Workforce Housing and ALF. Traffic highlights include a steady report of 78,000 from I-75 and 21,000 from Blitchton Road! Expanding communities such as On Top of the World and The Villages are within 30 miles from this 64,000+ SF deal. Contact us today to jump on this offer!

Additional Details

Nearest MSA: Ocala
County: Marion
Taxing Authority: Marion County
Tax ID/APN: 21767-000-00
Zoning: COMMUNITY BUSINESS
Property Located Between: NW Blitchton Rd/Interstate 75
Property Visibility: Excellent
Largest Nearby Street: I-75
Highway Access: Onramp to I-75
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Average
Year Built: 1974
Roof Type: Flat
Construction/Siding: Stucco
Water Recreation: Outdoor Pool
Total Parking Spaces: 100
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Evaporative Cooler
Zoning Description: Community Business
Lot Frontage: 559'
Lot Depth: 210'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 30,276 67,217
Median Age: 38.58 39.94
Households: 11,663 27,118

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