3603 PLACID LAKES BLVD Active Save Request In-Person Tour Request Virtual Tour
Lake Placid,FL 33852
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $616
Subdivision Placid Lakes Sec 11 Rep
MLS Listing ID L4949447
HOA Y/N No
Originating Board Stellar MLS
Year Built 1967
Annual Tax Amount $4,341
Lot Size 134.090 Acres
Acres 134.09
Property Description
Owner Financing 1/2 Down 7% int/2yr Bal. 18 Hole Golf Course with Restaurant, Golf Shop & Maintenance Facility with Equipment all on 139+-Acres priced at Only $13,309 per acre for Fast Sale /Offering Tremendous Upside Potential to develop 1/2 of the course into 201+-Homesites Plus 48 Unit Townhomes on 4 acre (on restaurant site) while retaining the balance of the course as 9 Hole Golf Course, add pickle ball courts & add a spa on the extra commercial lot for even more potential profit! 60 Golf Carts & equipment are included in sale & the restaurant with liquor license is leased. Past income of this business produced 8% Cap Rate 2021 & 9% Cap Rate 2022. This course is the Only Golf Course in Lake Placid. Allocation of values / Proforma Metrics: Restaurant, $400,000; 9-hole golf course @ $4,105 +/- per acre, $275,000; 67 acres with 201 homesites+48 Townhomes at $4,117 per homesite/unit, $1,025,000; golf cart and equipment, $150.000. Do Not Disturb restaurant tenant! Sale is confidential and buyer Must sign confidentiality agreement before showings & getting detail package of information!
Location
State FL
County Highlands
Community Placid Lakes Sec 11 Rep
Zoning AU
Interior
Heating Central
Cooling Central Air
Flooring Linoleum
Exterior
Water Access Yes
Water Access Desc Pond
Building
Story 1
Foundation Slab
Lot Size Range 100 to less than 200
Structure Type Concrete
New Construction false
Others
Ownership Other
Acceptable Financing Cash,Conventional,Owner Financing
Listing Terms Cash,Conventional,Owner Financing
Special Listing Condition None