$4,500,000
Active · 5 days on market · MLS# MFRL4964161
| Bedrooms | 0 |
|---|---|
| Living area | 17,537 sq ft |
| Lot size | 3.04 acres |
| Year built | 1972 |
| Property type | Quadruplex |
| Private pool | Yes |
| Waterfront | Yes |
| Annual taxes | $20,635 |
| County | Highlands |
RARE SEBRING INVESTMENT/REDEVELOPMENT OPPORTUNITY! Former Sunset Beach Motel at US 27 & Lakeview Dr offers 42 units on 3± acres at a highly visible hard corner with 297± FT of frontage on beautiful Lake Jackson. Surrounded by major retailers/services including Publix, Bealls Outlet, Popeyes, Verizon & CVS. Existing improvements & infrastructure provide tremendous value as construction, utility & development costs continue to rise. Renovate/stabilize the 42 units for income while positioning this prime site for future redevelopment. Owner pro forma based on $800/unit/mo, 10% vacancy & 35% expenses projects $235,872 NOI. One building has a newer metal roof; additional updating needed. Exceptional potential for upscale hotel/resort, timeshare, lakefront restaurant, retail or mixed commercial redevelopment, subject to approvals. Sebring continues expanding with new residential, industrial & national brands including BJ’s Wholesale, First Watch, Wawa & Culver’s, driving demand for lodging, retail & services. Secure this irreplaceable lakefront commercial site while existing improvements offer holding-income potential. BUY THE LOCATION, IMPROVE THE INCOME & POSITION FOR THE FUTURE! Buyer to verify zoning, uses, measurements & financials.
Listing courtesy of Steve Smith, ADVANTAGE REALTY 1. Presented by MC Homes Realty Inc · (727) 432-2181.