Land

Oak Run Development Site

SW Highway 484, Ocala, FL, 34473, US

Deal room

Executive Summary

Oak Run Development Site_Property for Sale

Gallery

Oak Run Development Site 2_Property for Sale

Asset description

Jones Lang LaSalle, Inc. (“JLL”) is pleased to present the opportunity to acquire the Oak Run Development Site (the “Property” or “Site”), a ±20.18-acre multi-family development site located in the rapidly growing Ocala MSA. With a site plan and PD nearly in place for a 312-unit multi-family community, a developer can quickly capitalize on the outsized demand fueling the multi-family space in one of the country’s hottest housing markets.

At a time when demand for multi-family product is at an all-time high, the site represents a prime opportunity for a developer to acquire a multi-family site in a rapidly growing location.

Attributes

Land area net

20.00 acres (871,200 sf)

Investment highlights

Approvals on the site are well underway with PD approval expected November 15, 2022, allowing a developer to break ground immediately thereafter. The proposed site plan contemplates 312 units across six 36- unit buildings and four 24-unit buildings. The community will also feature a large pond, a clubhouse and pool area, a separate fitness center building, detached garages, and abundant green space.
The Site sits at the junction of SR-200 and Highway 484, placing it within close proximity to the best that Ocala has to offer. Serving as Ocala’s main retail corridor, SR-200 offers numerous grocery stores, restaurants, and shops, as well as a Walmart Supercenter adjacent to the Site. The Site also offers easy access to several major hospitals, Ocala’s burgeoning logistics industry, and the World Equestrian Center.
The Site sits between two of the strongest growth markets in the country (Orlando and Tampa). The demand in this MSA is continuously fed by the population and job growth in Orlando and Tampa, both just an hour from the Oak Run Development Site.