Remarks

18 Hole Golf Course with Restaurant, Golf Shop & Maintenance Facility with Equipment all on 139+-Acres priced at Only $12,949 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!

Details

MLS#: 300855
Price: $1,850,000

Style: Single Story
Year Built: 1967

County: Highlands
Tax Fee: 12046.000