Sunset Tavern
1090 Shady Cove Road E, Haines City, FL
15.88% return
SP:
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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 rehab 1 $0
  • Total investment $795,000
  • Type Proforma
  • Gross income (annually) $208,800
  • Operating expenses (annually) $82,552
  • Net income (annually) $126,248
  • Gross return 26.26%
  • Gross income (monthly) $17,400
  • Operating expenses (monthly) $6,879
  • Net income (monthly) $10,521
  • Net return 15.88%

Property Income & Expenses

  • 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.

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