3603 PLACID LAKES BLVD Pending Save Request In-Person Tour Request Virtual Tour
Lake Placid,FL 33852
Key Details
Property Type Commercial
Sub Type Business
Listing Status Pending
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $616
Subdivision Placid Lakes Sec 11 Rep
MLS Listing ID L4949447
Year Built 1967
Annual Tax Amount $4,341
Lot Size 134.090 Acres
Property Sub-Type Business
Property Description
Under contract-accepting backup offers. 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
Area 33852 - Lake Placid
Zoning AU
Interior
Heating Central
Cooling Central Air
Flooring Linoleum
Exterior
Water Access Yes
Building
Story 1
Foundation Slab
Structure Type Concrete
New Construction false
Others
Acceptable Financing Cash,Conventional,Owner Financing
Listing Terms Cash,Conventional,Owner Financing
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/L4949447