Homes for sale - 3603 PLACID LAKES BLVD, Lake Placid, FL 33852

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Andrea Stultz Wood

andrea.stultz@engelvoelkers.com +1(941) 929-6529

$ 1,850,000

Est. payment -/mo

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3603 PLACID LAKES BLVD Lake Placid, FL 33852

3,000 SqFt

UPDATED:

12/17/2024 10:02 AM

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

Listed by ADVANTAGE REALTY 1

Andrea Stultz Wood

Advisor

+1(941) 929-6529

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