$950,000
( $131.03Per Sq Foot )
 $5,394 est/mo Sourced by Back At You

18 Highway 40 E , INGLIS, FL 34449

INGLIS, FL 34449

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Description

Prime Multi-Unit Shopping Plaza, has 7,250 rentable Sq. Ft. and is divided into 6 units. One is also further divided to accommodate an A and B to provide a total of 7 units. Each of the 6 are deeded separately and can be sold together or separately in the future. All this is a haven for outdoor enthusiasts and sportsmen, offering a wealth of opportunities in Inglis, Florida, Levy County, known as 'Florida’s Natural Paradise'. Situated at the intersection of Highway 40 and US 19 (with a combined AADT of 14,300), occupying the South-East corner and accessible from two roads, both County Highway 40 E. and Palmetto Drive behind the subject property, with an designated 66' wide driveway access, lies the subject property: a 1.80 + or -- acre parcel, with 200 feet of Highway 40 frontage and less than 150 feet from US19/US98, zoned retail/commercial in the Municipal Service District, part of the Spring Protection Area. This zoning allows for 70% F/RR and A/RR coverage, permitting a variety of uses including Urban Services, Commercial, and even increased residential density for the subject parcel and the surrounding parcels, paving the way for more suburban development in the future. To the South, the 66' drive access provides for the possibility of additional expansion behind the subject building and or a drive through, if ever needed. ?90% leased to long term tenants and anchored by a national tenant, Subway. The multiple tenants and individual deeds provide for a stable income or cash-flow in the future as well as options for selling the units individually. This subject building was constructed in late 1995 and has been maintained over the years with many improvements. In 2023 the entire roof was replaced (yes, with a 15 year guarantee, that is transferrable). The parking lot was re-surfaced in 2021 and the overall building is in above average condition. There is no differed maintenance. These spaces are highly usable and functional for a variety of general retail, professional/medical office users and service companies. All areas are finished beautifully with quality building materials that leave a lasting impression. Further upgrades include new HVAC installed between 2009 and 2023, a video monitoring system, also a fenced in area for storage. This is an Attractive Investment Opportunity: With its prime location, versatile zoning, functional design, and quality finishes, the Plaza presents an attractive investment opportunity for potential tenants or buyers seeking retail/commercial space in the area. The property taxes are low at $8,400.00/year and the building insurance is only $5,700.00 per year. The gross income is currently at $88,000.00 per year. Please keep in mind, this property is anchored by a Subway location that has been there for over 15 years, its literally a fixture of the community and has just renewed the lease. There is room to escalate the rents in the future. Florida has been very desirable for many reasons, but no state income tax and the growth it has seen in the past two decades is incredible. Now, this area of Levy County has been selected by several developers and large tracks of land have changed hands in the past 6 months. We are talking about several thousand acres. Also Withlacoochee Electric Co-Operative has made public plans for additional expansion and has the acquired land. This property is a "Crown Jewel" for any investor. No one will pay for potential, so we are including it for free!

Details

MLS#W7868880
Listing TypeFor Sale
StyleMixed Use
Sub-TypeFor-sale
StatusActive
Year1995
Days On Site38
Listing Provided BySNAP REALTY LLC | Shawn Poole

Features

SQ Feet7,250
Acreage0.32

Market Activity 34449

 Listings courtesy of Stellar MLS as distributed by MLS GRID.Based on information submitted to the MLS GRID as of November 11, 2024 at 8:38:04 AM PST All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com. “The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

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Listings Checked: 1 minute ago
StateFL
CountyLevy
CityINGLIS
Zip Code34449
Area34449 Inglis
Community NamePLAZA 40
Listing VS Median (in PLAZA 40)
Price:
$950,000
low | high
Med:
$950,000
50% of Average
SqFt:
7,250
low | high
Med:
7,250
50% of Average
$ / SqFt:
$131
low | high
Med:
$131
50% of Average
On Site:
38
low | high
Med:
38.000000
100% of Average
Sourced by Back At You
Listing Updated: October 5, 2024 at 5:09:04 AM PDT