Remarks

Major high-return investment.. Famous Seaside Restaurant and Waterfront Lands Central Florida West Coast, Gulf of Mexico, Tampa MSA area Port Richey FL property is Pasco county's only Sea side Port.. UPSIDE RETURNS High vacancy with Major upside potential..Pro Forma 9.45% ROI returns @ $453,600 yearly rent roll increasing, additional appreciation value 11% year over year, Total 20.45% return potential. Current Passive tenant income $80,000 yearly Short-restaurant lease, Wet slip docking, event parking, increasing rents.
The property consists of 3 separate parcels, 6 lots total, all uplands usable buildable, 1.51AC, 200’ Waterfront Commercial frontage Offering Prime Waterfront Real Estate Restaurant, former B & B Hotel, Marina wet slip charter docking, additional development land, event parking lots. Cotee River. All Pasco county C2 COMMERCIAL Rights by zoning, Development land coverage FAR 75% (floor area ratio allowable building base floor), 200’ Commercial Waterfront wet slip docking, develop High and Dry Commercial Marina, historic Seaside Bar on River, hotel and additional land for development.
redevelopment Waterfront district area, boardwalk, and waterway Dredging project plus 6 million in renovations in process, lighting, streets, signage, sidewalks, Golf cart paths, and more.
Can provide all documents regarding the site all clear Phase 1 environmental studies, and boundary surveys.
Famous Johnny Cash singer frequented the Seaside Bar often
Pasco ID# 32-25-16-0260-00000-0020 (Restaurant .28 AC)
ID# 32-25-16-0260-00000-0010 (Hotel .79 AC)
ID# 32-25-16-0260-00000-0080 ( Lots .44 AC) Total site 1.51AC (65,775 SF) C2 Commercial Zoned

Details

MLS#: T3480009
Price: $5,200,000

Style: Mixed Use
Sq Ft: 3965
Year Built: 1959

County: Pasco
Subdivision: HARBOR VILLAS
Tax Fee: 7805.05