<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2016-04-01</periodOfReport>

    <dateOfOriginalSubmission>2017-01-20</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001550913</issuerCik>
        <issuerName>MacKenzie Realty Capital, Inc.</issuerName>
        <issuerTradingSymbol>NONE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001582328</rptOwnerCik>
            <rptOwnerName>Bluth Jeri Ruth</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1640 SCHOOL ST</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MORAGA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94556</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Compliance Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>MacKenzie Realty Capital, Inc</value>
            </securityTitle>
            <transactionDate>
                <value>2016-04-01</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>236.7</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>379.1</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote 1</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">(1) On 4/1/2016, MPF Successors, LP (&quot;MPF&quot;) acquired shares of MacKenzie Realty Capital, Inc. (&quot;MRC&quot;) from MacKenzie Capital Management, LP (&quot;MCM&quot;) in satisfaction of amounts owed to MPF by MCM.  MCM received the shares on 10/15/2015 as an in-kind distribution in connection with the liquidation of the following funds:  MP Income Fund 16, LLC, MP Income Fund 18, LLC, MP Income Fund 19, LLC, MP Income Fund 20, LLC, MacKenzie Patterson Special Fund 6, LLC, MP Value Fund 5, LLC, and MP Value Fund 7, LLC.    The filer owns an interest in MPF and therefore could be deemed to beneficially own a portion of the shares of the MRC shares acquired by MPF.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Chip Patterson</signatureName>
        <signatureDate>2017-01-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
