1001 Lakeview Drive
Property Description
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,500,000 |
| Year Built: | 1972 |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 42 |
| Number of Bathrooms: | 42 |
ID: 3yd-HMLSFL-327097
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