Harmony Palms - Venice

Vacant Land for Sale
Catylist Listing ID: 30319618
Property Subtypes: Multi-Family, Other
Gross Land Area: 7.14 Acres
Sale Price: $1,800,000
Unit Price: $252,100 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/3/2019

Overview / Comments

• Proposed Rental Rates: average of $4,500 per unit
• Estimated Annual Revenue at 93% occupancy: $7.1 million
• Estimated Operating Expenses at 70%: $4.98 million
• Estimated Net Income: $2.1 million
• Estimated Value "AS IS": $4.5 million (which includes $3.2 million
land value; $400,000 in paid soft costs/permits/impact
fees; $900,000 in completed site work and materials on site).
• Groundwork is nearly complete - includes retention & drainage,
pipes for water & sewer laid. Utilities available to site - need to
be connected.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0416080003

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,175 30,690 67,562
Median Age: 52.96 63.26 60.53
Households: 1,004 15,702 34,085

Contact

Photograph of Listing Agent

Amy Lyon MacDougall

IAN BLACK REAL ESTATE LLC MFCRE Member
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