This Compass Bank property is located in Ocala, Florida. The property is situated at the intersection of SE Maricamp Road and SE 36th Avenue, due to which, it experiences a heavy traffic of over 55,600 vehicles per day. This bank branch has a built-up area of 4,704 sq.ft., and sits on a 0.91-acre parcel of land. This property has been acquired by Compass Bank since 2005. The bank branch experiences a robust, steady deposits of over $39 Million every year. Ocala metro has been successful in attracting international companies because of its reputation as a solid manufacturing base and the famous equine industry. A lower cost of doing business and strategic location in central Florida are the two biggest factors for the massive influx of businesses in this part of the state. Marion County, Jacksonville, Orlando, and Tampa are all within a two-hour drive from this location. 28% of the population are of age 65 or older, which contributes largely to the healthcare sector.
Compass Bank had set up its first branch in Birmingham, Alabama, in 1964 as a Central Bank & Trust Company. The company adopted a unique approach and served people differently as compared to its peers. In 1970, Compass Bank took a pathbreaking decision by introducing everyday banking and shook the banking world after it became the first bank to function on Saturdays.
This investment property is suitable for a 1031 exchange.
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