Income Producing Lakeside Property

Special Purpose for Sale
Catylist Listing ID: 29729707
Building Size (RSF): 6,650 SF
Gross Land Area: 0.93 Acres
Sale Price: $719,000
Ceiling: 8 ft.
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Last Updated: 8/18/2017

Overview / Comments

Housing community made of 3 * block buildings,1 wood frame and 4 single wide trailers, (10 livable units), each unit needs TLC but currently produces $ 33,000.00 net yearly revenue and may not be set up for best use of this land-lot which sits has view, access and use of Bell Lake in Land O Lakes with Hwy 41 frontage.

2 units in 2 of the block bldgs., 1 unit in the other block

Commercial sign on the property does not convey with the sale of the parcel.

Additional Details

Nearest MSA: Tampa-St. Petersburg-Clearwater
County: Pasco
Taxing Authority: Pasco County
Tax ID/APN: 13-26-18-0030-01000-0010
Zoning: BBS5, MU412WG
Market Type: Medium
Property Located Between: Bell Lake Road north to Hale Road on Hwy 41
Side of Street: North
Road Type: Gravel, Private
Property Visibility: Excellent
Largest Nearby Street: Hwy 41
Feet of Frontage: 160
Traffic/Vehicle Count: 37,500
Transportation: Other
Highway Access: just off Hwy 41, close to SR 54, N. Dale Mabry, I-75 and the Suncoast Expressway are just minutes away. Ehren Cut Off just north on 41 goes directly up to SR 52.
Airports: TIA
Site Description: level lot with 41 frontage and Bell Lake on the backside, stationary and floating docks in place, both need work. 160 ft wide on Hwy 41 x 200 ft deep
Area Description: Mix of residential communities, trailer parks, PUD's like Lake Talia, Wilderness Lake Preserve, Sable Ridge, East Lake Padgett, businesses up and down 41 with potential tear downs for improved facilities to better suite the up and coming development in this area
Total Number of Buildings: 8
Number of Stories: 1
Property Condition: Good
Year Built: 1936
Year Renovated: 1999
Roof Type: Flat
Construction/Siding: Other
Exterior Description: cottages are block bldgs.with peaked roofs, trailers are steel sided with flat roofs some with porches
Parking Ratio: 2 (per 1000 SF)
Parking Type: Surface
Parking Description: level area around each unit has at least one space and a common area area for several cars
Heat Type: Electricity, Space Heaters
Heat Source: Wall Units
Air Conditioning: Window Unit
Internet Access: Cable
Interior Description: Cottages mostly 1-1 all need some work, trailers are a mix up to 3 bdrms, one bath, all need updating
Zoning Description: mixed use residential
Lot Frontage: 160 ft
Lot Depth: 246 ft into the lake
Easements: Ingress/Egress
Easements Description: commercial overhead sign on the property with a easement for contractors to change out signs boards and sign / pole maintenance. Does not convey with the sale of the lot
Land Ownership: Trust
Legal Description: Willis Estates PB4, PG35 that part of the tract 10 lying east of State Rd 45 or 4208 PG 1249, see Pasco County records for more info

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,046 36,011 85,414
Median Age: 38.96 41.03 39.02
Households: 1,085 13,401 30,553

Contact

Photograph of Listing Agent

John (Jack) Joseph Buckley

Coastal Brokerage & Investments FGCAR CIE Member
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