2024 N C 470, Lake Panasoffkee, FL 33538

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2024 N C 470 is located in Lake Panasoffkee, FL.

This property offers the new owners an actual operating cap rate of 8% and a very real opportunity of redevelopment of the entire 5 acres in the future to make a huge return on investment. Currently the site is comprised of seven buildings, one grocery store, one real estate office, three storage/warehouses and two retail strip buildings. The complex is well maintained and is located on the main road through town providing the only retail space available for lease in a multi-tenant retail center. Reasonable rents, great exposure, future redevelopment and land size of 5 acres make this an exceptional purchase at $40 psf of building area. There are complete architectural plans for interior and exterior renovations. The location is a rural area near Lake Panasoffkee in a city of the same name. Lake Panasoffkee is currently in the 3rd year of a five-year project by the State and Sumter County to restore the lake to its 70's condition.