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Prime 1. 13-Acre Lot for Sale – Zoned RO in Marion County
This exceptional 1. 13-acre parcel, zoned Residential Office (RO), offers a unique opportunity for development in a desirable location. An adjacent 1. 13-acre lot is also available, making it possible to secure a combined 2. 26 acres for a larger project. Located in a high-visibility area with easy access to major roads, this property is perfect for business, residential, or mixed-use projects. With Marion County's continued growth, this lot presents a versatile and valuable opportunity for developers or investors. The rear 25% of the property is zoned R1, allowing for single-family homes, two-family dwellings (duplexes), and small businesses such as hair salons (up to 3 stations), medical offices, and dental offices. The RO zoning permits a mix of office and residential use, making it ideal for live-work spaces or mixed-use developments. For greater development potential, the property can be rezoned to R3, allowing for a multifamily development with up to 18 units per acre, totaling 41 units across both lots. Duplex development requires a 100-foot frontage per unit, providing additional residential opportunities. Don’t miss out on this fantastic opportunity to develop a versatile property in a thriving area.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $239,200 | $239,200 | $239,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.375% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.007% | 7.037% | 6.152% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,492 | $1,571 | $2,002 |
Total Monthly Payment | $1,567 | $1,646 | $2,077 |
* 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.