Source: Ocala Star Banner
Back in the 1960s, before Marion Oaks was even platted, an airline pilot purchased two square miles of land on County Road 484 about two miles west of Interstate 75. It would become The McGinley Farm, which produced corn and peanuts for decades.
By 2017, rumblings around town were that Richard McGinley was ready to turn the agricultural land into one of the largest industrial centers in Florida.
It was about four years ago when plans of transforming the 1,280-acre farm into Florida Crossroads Industrial Park were first unveiled. In the years since the property is being developed at breakneck speed.
The property is split into two sections by CR 484. About 75% of the acreage is on the south side of CR 484 and is home to Dollar Tree, a 1.9 million-square-foot distribution center and the centerpiece of the south portion.
McGinley is working with an investment group to plan out the north side. Along the north side of CR 484 there will be commercial, retail, and restaurants to “support a lot of people that will be working on the south side,” he said.
North of that commercial section, McGinley said there could end up being multi-family complexes, and/or single-family homes.
Southside master plan
The commission voted unanimously to allow for changes for the southern portion of the development fronting CR 484.
Mary Elizabeth Burgess, director of Marion County Growth Services, told commissioners that the new plan calls for 40 1.14-acre lots near CR 484.
The original concept was to put some uses, like a gas station and other things, and some type of restaurant, on the south side of CR 484. McGinley said the smaller lots will be commercial for possibly smaller warehouses.
Source: Ocala Star-Banner (no copyright infringement intended)
Marion County’s building permits are up, and we are doing more commercial buildings and housing than ever before. The county will be ahead of most communities and prepared to host dozens of national and world events.
Ocala’s distribution hub is already home to AutoZone, Chewy, FedEx and Amazon.
Recently opened is the World Equestrian Center or WEC. The largest equestrian complex in the United States is a world-class, multi-indoor and outdoor arena facility. It offers state-of-the-art amenities to accommodate numerous disciplines within the equine industry and more.
The economic boom is a result of the business community, especially the Ocala/Marion County Chamber & Economic Partnership, and government agencies working together.
“Everything in Ocala is the best in the world and will attract people from all over the world to our community,” Mayor Kent Guinn said.
Currently under construction is a $30 million natatorium, an indoor aquatics complex that organizers are calling FAST (Florida Aquatics Swimming and Training), and the Ina A. Colen Academy, a $24 million charter school. The school and the aquatics project are part of the Calesa Township which will eventually include 5,000 homes on more than 1,500 acres.
The aquatics facility will be an economic driver for Marion County. Events will draw people from across the country. The idea will be to host some of the nation’s most elite swimming and diving events.
A second commercial park, on a 1,000-acre site called the Florida Crossroads Commerce Park, includes a Dollar Tree distribution center.
Marion County is poised to become a Florida destination and its residents recognize that it’s a good investment.
If you’re interested in more information on the Ocala/Marion County market, give us a call today. We’d be happy to help (352) 414-1855.
All County Marion Property Management is excited to announce its newest addition, NextHome Marketplace.
As one of the fastest-growing communities in the nation, Ocala is attracting buyers with its properties and land options.
Our team truly enjoys the relationships we’ve developed with our property owners. However, because the property management business is busy, we rarely have time to help owners with their real estate sales and acquisition needs.
NextHome Marketplace provides full-service opportunities for all of our clients.
Visit our website for more information NextHome Marketplace | Serving you since 2020 or give us a call.
We’d love to chat with you! (352) 351-2118
Investing in Single-Family Rental Homes
Source: National Association of Realtors® (NAR)
When real estate professionals or investors think about a rental property, they picture multi-unit apartment buildings – but they should envision single-family homes. Single-family rentals have increased by 31% in the past 10 years and make up 42% of the housing stock.
When investors buy a house to flip, they have the cost of buying, repairing and selling it. When they buy a single-family rental, they only have acquisition costs.
Single-family rentals are a good way for entry-level investors. They’re generally less expensive and families that rent them typically stay longer, reducing turnover costs – and investors usually don’t have to do as much renovation to make a rental attractive.
Additionally, rentals offer three financial benefits: income, equity, and appreciation. You look for the ROI (return on investment). A simple rule – whether you’re selling or buying – is the 1% rule. If the rent is 1% of the sale price, it’s a good return and a good investment.
All County Marion Property Management is here to answer your questions and help you with all your real estate needs (352) 414-1855