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96 CYPRESS ROAD
About This Property
The Emerald Village Project is an Approved PUD Project with all Entitlements in place.? Concept Plan Etc.? - Apartments, Condominiums, Townhouse, Single Family, Duplex, Tri Plex, Quad Plex all acceptable on this site.? Located in Rapidly Growing Marion County Florida.? The Proposed Project Encompasses Almost 100 Acres With Approval for 1200+ Units.? Total Residential Units Requested and Approved 1200 With a Maximum of 1351 in Leu of an Alf, With Required Parking of 1808 Parking Spaces.? The Approval Also Reflects the Ability to Go Vertical to No More Than 50 Ft.? Or 4 Stories.? The Subject Property is Within a Flood Zone "X" Designation.? The Surrounding Area is Supported by Elementary, Middle, and High Schools.? There Are Numerous Light Industrial as Well as Recognized Manufacturing Corporations in Proximity.?
Ocala is Ranked by U.?S.? News as the 6th Fastest-growing Place, the 10th Safest Place to Live, the 16th Best Place to Retire, and the 91st Best Place to Live Out of the Top 150 Metro Areas.? Also to the South is the Fastest-growing Retirement Community, the Villages, With a Never-growing and Expanding Workforce.? To the Northwest is the "the Horse Capital of The World" and the World Equestrian Center.? The County is Also Developing a Strategic Plan to Incorporate All Future Traffic Patterns to Allow Efficient Flow of Additional Traffic for Future Development.?
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
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Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 29, 2026 | In contract | - | |
| In contract | |||
| Jul 25, 2026 | Price Decreased |
$11,500,000
↓ $500K
(4.2%) | |
| Price Decreased | |||
| Apr 29, 2026 | Listed by BROKER ASSOCIATES REALTY | $12,000,000 | |
| Listed by BROKER ASSOCIATES REALTY | |||
| Aug 9, 2024 | Listed | $12,000,000 | |
| Listed | |||
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SHOVEL READY MULTI FAMILY OR SINGLE FAMILY PARCEL WITH ALL ZONING IN PLACE. WE HAVE ALL THE APPROVALS TO BEGIN BUILDING THE INFRASTRUCTURE FOR UP TO 1300 UNITS. COMMUNITY IS NAMED EMERALD VILLAGE AND IS IN ONE THE MOST UP AND COMING AREAS IN THE RAPIDLY GROWING MARION COUNTY. PROPOSED COMMUNITY ENCOMPASSES JUST UNDER 100 ACRES. PROPERTY CAN BE DIVIDED AND SOLD SEPERATELY IF YOU SO DESIRE. 2 PIECES ARE MULTI-FAMILY THAT ARE A COMBINED 85 ACRES, 1 COMMMERCIAL PIECE IS 3 ACRES AND THE OTHER IS alf THAT IS 6 ACRES.
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| May 8, 2023 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017