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Marina Restaurant, 13 Apartments, & 72 Boat Slips

Marina Restaurant, 13 Apartments , & 72 Rentable Boat Slips

Listing Contacts

Active

Asking Price: $4,500,000
Earnest Money  Deposit: $100,000 min.
Address 

109 E Dixie Ave, Leesburg, FL 34748

Show on Map
Date Added
Oct 20, 2023
Days on Market
523 days
Time Since Last Update
1 day

Details

Property TypeMixed Use, Multifamily, Retail, Self Storage
SubtypeRestaurant
Investment TypeValue Add
ClassB
Lease TypeNNN
Square Footage5,317
Net Rentable (sq ft)12,485
Price/Sq Ft$846.34
Cap Rate8.54%
Occupancy100%
NOI$384,132
Units13
Year Built1956 +
Buildings4
Stories2
ZoningCG
Lot Size (acres)3.64
Parking (spaces)32
Broker Co-OpYes
APN36-20-25-0002-000-00100
Ground LeaseNo

Marketing Description

THIS IS FOR THE REAL ESTATE ONLY, THE RESTAURANT BUSINESS IS BEING SOLD SEPERATELY NOW!

The restaurant has been operating here for 25+ Years!

NOW OFFERING SELLER FINANCING: 30% down with 20-year Amortization Schedule for note at 6% interest with a 5-7 year Balloon!

**A Lakeside Gem with Limitless Potential**

  • Nestled on a sprawling 3.6-acre parcel, this is a cherished institution in Lake County, a beloved cornerstone of the community for over two decades.​ This magnificent property, situated on a beautiful lake, presents an unparalleled opportunity for investors and entrepreneurs seeking a cash-flowing oasis in a picturesque setting.​

**Restaurant & Apartments: A Feast for the Senses**

  • As you step onto the property, you'll be captivated by the enchanting outdoor dining area, gracefully accommodating a plethora of guests.​ With panoramic views of a natural lake, this alfresco space offers an unforgettable dining experience.​

  • Venture inside, and you'll discover a spacious indoor dining area boasting a seating capacity for 110 patrons.​ The restaurant, spanning 5,317 square feet, has firmly established itself as a culinary destination, drawing diners from near and far.​

  • On the second floor, two meticulously designed apartments offer comfort and convenience.​ These apartments present an enticing opportunity for additional income, making it a truly multifaceted investment.​

**Marina: A Boater's Paradise**

  • This Investment opportunity is not just a restaurant; it's a gateway to aquatic adventures.​ The property boasts an impressive 36 rentable boat slips, accommodating boats up to 21 feet long.​ Furthermore, an additional 36 boat slips are in the permitting process, promising a total of 72 slips to meet the demand of boating enthusiasts.​

  • For those seeking to enhance revenue streams, there's ample space to add boat storage facilities, catering to the needs of the boating community and bolstering the property's cash flow potential.​

**Apartments & Amenities: Unparalleled Leasing Demand**

  • The property features a diverse range of apartment offerings, including an 8-unit apartment building, a 2-unit apartment building, and a spacious single-unit apartment with three bedrooms.​ In total, there are 13 impeccably maintained apartment units, each with an average size of 551 square feet.​

  • Demand for these apartments remains consistently high, with a waiting list for the apartments and marina slips.​ These units are a lucrative component of the property's income, attracting long-term tenants year-round.​

**Additional Assets & Investment**

  • Beyond the restaurant, apartments, and marina, the investment property includes two boat houses and three utility sheds, providing versatility and room for expansion.​

  • Notably, the property is immaculately maintained, with no deferred maintenance or significant capital expenditures required, ensuring a hassle-free investment experience.​

**Thriving Sales & Local Appeal**

  • In 2022, this commercial investment achieved approximately $2.11 million in sales, marking a substantial increase from the $1.4 million generated in 2021.​ With the property's impeccable reputation and prime location, these impressive figures are a testament to its thriving success.​

**Proximity to Historic Landmarks**

  • Enjoys a strategic location, just a five-minute drive from a world-renowned historic site frequented by tourists seeking guided tours, signature weddings, gala events, and fundraisers.​ This proximity enhances the property's visibility and potential for event-related business.​

  • In sum, this investment presents a rare opportunity to acquire a multifaceted commercial property with an established legacy, enviable income potential, and room for expansion in a prime lakeside locale.​ Whether you're an investor, restaurateur, or visionary entrepreneur, this property promises to be a cash-flowing haven with a bright and lucrative future.​

*This property is a confidential Listing and has an approximate address for record of relative location on Lake Harris.​

Investment Highlights

Premier Marina Restaurant, 13 apartments 100% Occupied, 36 boat slips leased, and 36 more under permit to be built.

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$384,132.00
$32,011.00/mo

Valuation Metrics

0
DSCR
8.54%
Cap Rate
8.54%
ROI
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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts


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Broker Information
Broker Name
Matthew Fischer
Broker License
FL 3440621
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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