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Listing ID: OM610506
Sold For: $145,000
Status: Closed
Sold Date: 1/11/2022
Address: 108 N Magnolia Avenue 201
Unit Number: 201
City: Ocala
State: Florida
Postal Code: 34475
SqFt: 1,803
Acres: 0.580
County: Marion
Ocala
FL
34475
Great investment and passive income opportunity! This renovated office condo in the Ocala Sovereign Building is right in the middle of the up and coming downtown district. Condo consists of a lobby, reception desk, conference room or large office, five additional offices, and a break room. Comparable rents in the downtown area range from $15-$24/square foot. Originally built in 1927 as the Marion Hotel, The Sovereign Building is the second tallest building in Ocala and one of the most unique. On the National Historic Register since 1980, this historic building hosts a coffee shop, a ballroom, and offices on the first floor surrounding the beautiful lobby. Come check it out today!
Jonathan Connor

Primary Features

County: Marion
Property Sub Type: Office
Property Type: Commercial Sale
Year Built: 1927

Interior

Building Area Units: Square Feet
Cooling Type: Central Air
Flooring: Laminate, Linoleum
Heating Type: Central
Levels: One
Living Area Meters: 167.50
Number of Offices: 7
Number of Restrooms: 2

External

Building Features: Bathrooms,Dumpsters,Elevator
Construction Materials: Concrete
Flood Zone Code: X
Foundation Details: Basement
Lot Size SqFt: 25089
Lot Size Square Meters: 2331
New Construction: no
Parking Features: Parking Spaces - 6 to 12
Road Frontage Type: Business District
Road Surface Type: Asphalt
Sewer: Public Sewer
Total Acreage: 1/2 to less than 1
Total Number of Buildings: 1
Utilities: Electrical Nearby, Phone Available, Water Connected
Water Access: no
Water Extras: no
Water View: no

Location

Building Area Source: Public Records
Building Area Total: 1803
Country: US
MLS Area Major: 34475 - Ocala
Township: 15
Waterfront: no

Additional

Accessibility Features: Accessible Approach with Ramp, Accessible Common Area, Accessible Doors, Accessible Entrance
Adjoining Property: Commercial,Professional Office
Business Type: Commercial, Professional/Office
Complex Development Name: Ocala National Bank Building
Condo Environment: yes
Contract Status: Inspections
Days To Closed: 440
Mls Status: Sold
Property Condition: Under Renovation
Public Survey Range: 22
Public Survey Section: 18
Sale Includes: Other
SDEO: no

Financial

Com Transaction Type: Commercial Sale
Condo Fees: 600
Condo Fees Term: Monthly
Current Price: 145000.00
Disclosures: Condominium Disclosure Available
Leasable Area: 1803
Listing Terms: Cash, Conventional
Monthly Condo Fee Amount: 600
Special Listing Conditions: None
Tax Annual Amount: 2484.44
Tax Block: 43
Tax Book Number: E/001
Tax Lot: 3, 4
Tax Year: 2019
Total Annual Fees: 7200.00
Total Monthly Fees: 600.00

Zoning Info


Listing information courtesy of Busch Realty.

Listing information ©My Florida Regional MLS DBA Stellar MLS 2022. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may violate relevant federal and state law. Data last updated on Saturday, January 22nd, 2022 at 06:55:40 PM.
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