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!
MLS# | L4949447 |
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Listing Type | For Sale |
Style | Other Business Opportunity |
Sub-Type | For-sale |
Status | Active |
Year | 1967 |
Days On Site | 28 |
Listing Provided By | ADVANTAGE REALTY 1 | Gregory Karlson |
SQ Feet | 3,000 |
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Story(s) | 1 |
Zoning | AU |
Acreage | 134.09 |
State | FL |
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County | Highlands |
City | LAKE PLACID |
Zip Code | 33852 |
Area | 33852 Lake Placid |
Community Name | PLACID LAKES SEC 11 REP |
Listing VS Median (in PLACID LAKES SEC 11 REP) | |
Price: $1,850,000 low | high Med: $1,850,000 SqFt: 3,000 low | high Med: 3,000 $ / SqFt: $617 low | high Med: $617 On Site: 28 low | high Med: 28.000000 |