1412 N MAGNOLIA AVE Active Save Request In-Person Tour Request Virtual Tour
Ocala,FL 34475
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 13,484 sqft
Price per Sqft $110
MLS Listing ID OM660638
Year Built 1941
Annual Tax Amount $5,063
Lot Size 0.700 Acres
Property Description
One or more photo(s) has been virtually staged. Since 1941 the Magnolia Bakery has been the iconic Italian home to the best bread, pastries and personalized Italian meals in the area. Located near Downtown Ocala, in one of the newest revitalization area known as the North Magnolia district, the Magnolia Bakery is an ideal location for a restaurant & bar, special events center or warehouse space. This B5 zoned, 13,000+ SF multi-use and multi-level facility has an air-conditioned bakery and seating area downstairs with kitchen and walk in coolers. The 20ft ceilings and ample light make it a great entertainment space. Attached to the bakery is an expansive warehouse with 3 large office spaces on the second floor with new bathroom. While the public records show a build date of 1941, a fire destroyed the the building in 1986 and the majority of the building was rebuilt with solid tilt wall construction in 1987. The facility was reroofed in August 2021, all except the small donut shop. New electrical was put in within the last three years. It is also equipped with a new security system with lights and cameras on the entire building with viewing monitor in kitchen. The donut shop can run as a separate second business with its own entrance and bathroom. The asking price valuation is for real estate only, however if the buyer would like to take over current operations, the owners will train them. The monthly net return is currently $7,000/month. No financials will be provided, however they are willing to transfer the the long standing name, goodwill of the business and the family recipe book to the new buyers with the transaction if desired.
Ocala has consistently been touted in national ranking categories, including 10th safest, 6th fastest growing metros and 16th best places to retire. The Ocala Metro ranked #2 nationally in new single home construction per capita. Additional parcels next door totaling 1.31 acres could be available from the city. For more information on what is happening in nearby Downtown Ocala, check out OcalaMainStreet.org and the city of Ocala CRA page at Ocalafl.gov.
Location
State FL
County Marion
Interior
Cooling Central Air
Exterior
Waterfront false
Building
Foundation Slab
Structure Type Block,Concrete,Stucco,Tilt up Walls
New Construction false
Others
Special Listing Condition None