Sunset Tavern

1090 Shady Cove Road E, Haines City, FL

15.88% return

SP: $795,000

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Property Description

PERFECT RETIREMENT OPPORTUNITY!!! 2 ACRES OF PRIME REAL ESTATE, RIGHT ON LAKE MARION. JUST 25 MINUTES TO WALT DISNEY WORLD RESORT! LAKEFRONT BAR/RV PARK!! KARAOKE, LIVE MUSIC, FISHING, BEAUTIFUL SUNSETS!! AMAZING LIFE-STYLE, MAKE THIS YOUR HOME!! Property currently has 11 RV pads, boat docks/ramp, a full liquor bar and package store. Comes with 4COP liquor license and an operating business. Licensing allows the sale of alcoholic beverages and tobacco, highest level of license($120,000 value). The parcel is fully fenced with a gate. Unlimited possibilities. Area is growing rapidly. Potential to generate 15-25% net returns on investment!. Bar and docks have been redone recently.

Property Information

Listing statusSold
Property typeMulti Family
Total units11
Total bedrooms0
Total bathrooms11
Building size(unknown)
Lot size1.9 acres
Year built1980

CountyPolk County
SubdivisionCROFT WALTER
ConstructionCBS
RoofAsphalt Shingle
Water sourceWell
Water disposalSeptic
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$795,000
Estimated rehab¹$0
Total investment$795,000

TypeProforma

Gross income (annually)$208,800
Operating expenses (annually)$82,552
Net income (annually)$126,248
Gross return26.26%

Gross income (monthly)$17,400
Operating expenses (monthly)$6,879
Net income (monthly)$10,521
Net return15.88%

Property Income & ExpensesMonthlyAnnual

Income

Bar & Package Store Sales$12,000/month$144,000/year
Unit Bar Lot: studio / 1 bath$500/month$6,000/year
Unit Cottage: studio / 1 bath$800/month$9,600/year
Unit Mh #1302: studio / 1 bath$400/month$4,800/year
Unit Mh #1303: studio / 1 bath$750/month$9,000/year
Unit RV Lot #1: studio / 1 bath$450/month$5,400/year
Unit RV Lot #2: studio / 1 bath$450/month$5,400/year
Unit RV Lot #3: studio / 1 bath$450/month$5,400/year
Unit RV Lot #4: studio / 1 bath$400/month$4,800/year
Unit RV Lot #5: studio / 1 bath$400/month$4,800/year
Unit RV Lot #6: studio / 1 bath$400/month$4,800/year
Unit RV Lot #7: studio / 1 bath$400/month$4,800/year
Total$17,400/month$208,800/year

Expenses

Electric bill$1,000/month$12,000/year
Well$233/month$2,796/year
Waste Collection$280/month$3,360/year
Cable and internet bill$483/month$5,796/year
Entertainment$300/month$3,600/year
Property Taxes$500/month$6,000/year
Lawn care$250/month$3,000/year
Insurance$833/month$10,000/year
Payroll Expenses$3,000/month$36,000/year
Total$6,879/month$82,552/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.