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Description
Former 18 Hole Golf Course with Restaurant, Golf Shop & Maintenance Facility all on 139+-Acres priced at Only $12,589 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 acres (on restaurant site). 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 @ $4,779 +/- per acre, $325,000; 67 acres with 201 homesites+48 Townhomes at $4,117 per homesite/unit, $1,025,000. Do Not Disturb restaurant tenant! Sale is confidential and buyer Must sign confidentiality agreement before showings & getting detail package of information!
Property Highlights
Property Type: Commercial -
Cooling: Central Air
Heating: Central
Lot Size: 134.09 Acres
Stories: 1.0
Taxes: $4,341
Year Built: 1967
General Information
County: Highlands
Subdivision: PLACID LAKES
Listed By:
Gregory Karlson
ADVANTAGE REALTY 1
863-386-1111
MLS ID: L4949447
Property Features
Days on Site: 548
Directions: US 27 & Hammock Rd south to Lake Placid to Interlake Blvd to Catfish Cr Rd to Placid Lakes Blvd to Golf course on right.
Exterior: Concrete
Flood Zone Code: X
Flooring: Linoleum
Foundation: Slab
Home Warranty Y/N: No
Listing Terms: Cash, Owner Financing
Lot Dimensions: 134.09
Ownership: Other
Property Attached Y/N: No
Property Sub-Type: Business
Showing Instructions: ShowingTime
Special Sale Provisions: None
Special View Info: Water
Water Access: Pond
Water Access Y/N: Yes
Zoning: AU
Shown By
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3603 Placid Lakes Boulevard, Lake Placid, FL 33852.
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