5500 24Th St Ocala, FL 34480
- Commercial real estate
- 34.00 lot acres
Current Use by Public Records
- Williams Farm / Farm
Property Details for 5500 24Th St
- Lot size
- 34.00 lot acres
- Property type
- Commercial real estate
- APN
- 29697-018-00
Description
This exceptional 34-acre parcel in Ocala, Florida (APN 29697-018-00), presents a prime opportunity for single-family residential development. Currently zoned A-1 Agriculture, the property requires rezoning to PUD with Marion County to realize its full potential. The marketing analysis suggests up to 270 units (8 units/acre), although a more conservative 4-5 units per acre for a non-rental subdivision is more likely to receive zoning approval. This translates to a potential of 134+ lots. Strategically located within an established residential neighborhood, the land boasts three convenient ingress/egress points, with one access point on SE 24th St and another on SE 28th St. Proximity to schools (Maplewood Elementary and Forest High School) and numerous amenities, including Publix, YMCA, and various restaurants and banks (within a 5-7 minute drive), enhances its appeal. Utilities are relatively accessible, with central water located within approximately 250 feet along the northern boundary on SE 24th Street. Sewer lines are situated approximately 1300 feet west along Baseline Road (refer to utility map for details). Public records confirm the absence of FEMA floodplain issues. The asking price is $2,490,000 ($73,235/acre). The seller intends to retain a small portion (approximately 3 acres) of the original 37.78-acre parcel for personal use. This property offers a compelling investment prospect for developers seeking a well-situated residential project in a thriving Ocala community.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ocala
- County
- Marion
- State
- Florida
- Longitude
- -82.0585072
- Latitude
- 29.1633801
