$ 950,000
18 HIGHWAY 40 E Inglis, FL 34449
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$ 950,000
Est. payment /mo
Active
18 HIGHWAY 40 E Inglis, FL 34449
7,250 SqFt
UPDATED:
10/05/2024 12:57 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 7,250 sqft
Price per Sqft $131
Subdivision Plaza 40
MLS Listing ID W7868880
HOA Y/N No
Originating Board Stellar MLS
Year Built 1995
Annual Tax Amount $639
Lot Size 0.320 Acres
Acres 0.32
Property 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!
?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!
Location
State FL
County Levy
Community Plaza 40
Direction E
Interior
Cooling Central Air
Exterior
Waterfront false
Building
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Structure Type Block,Stucco
New Construction false
Others
Ownership Condominium
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Listed by SNAP REALTY LLC