(Reason why Cap Rate is so Low is because everything is on one meter water and Electrical) (Highest and Best Use is a 150 Apartment Complex) This Property was sold in 1998 before the Boom for $4,070,000. This Property Brings in Gross 348K a Year. Can be Developed to 150 Apartment Units. (An example: If you Developed 150 Units and they were 2 Bed 1 Bath. They would Rent out for $750 a Month. So $750 x 150= $112,500 a Month. So you could bring in 1,350,000 a Year.) The Land alone in this area is worth about 5 to 6 Million. The Property is 240,000 SQ FT or 5.5 Acres. It is Zoned Planned Development Commercial-Pd-C. This Sale Includes 11 frame bungalows, 31 mobile homes as well as a 2,000 sq ft (approximately) Commercial building. Owner would consider Owner Financing depending on terms. The property is conveniently located within ½ mile of the rapidly developing and highly desirable intersection of Fletcher Avenue and Nebraska Avenue. The property is .5 miles from the interstate access (275), 1.7 miles to University of South Florida Campus and University mall and also not far from Busch Gardens. The property offers 450 unobstructed feet of frontage on Nebraska Avenue.
Turn right to merge onto I-275 N toward Ocala Take exit 52 for Hillsborough 582A/Fletcher Ave Use the right lane to turn right onto E Fletcher Ave (signs for Hillsborough County 582A E) Turn right onto US-41 S/N Nebraska Ave
