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.
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,196,720 | $1,196,720 | $1,196,720 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.620% | 6.735% | 6.806% |
Monthly Tax Payment | $422 | $422 | $422 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,762 | $7,663 | $10,507 |
Total Monthly Payment | $8,309 | $8,210 | $11,054 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.