10917 MISTLETOE DRIVE, THONOTOSASSA, FL 33592
$1,500,000
Commercial 3,033 Square Feet Taxes: $11,506.00 Built in 1912 Listed on 09/22/2017 MLS # T2904875

Description of 10917 MISTLETOE DRIVE, THONOTOSASSA, FL 33592

Turn key adult living facility on Lake Thonotosassa with all furniture and equipment included. This ALF is priced way below market value and has a motivated seller. This 4 acre parcel has 240' of water frontage directly on the lake and makes for an incredible setting. Large oaks and water views. Attached in the MLS or upon request is a 110 page bank appraisal done last year which shows a value at that time at $2,230,000 with 20 beds as is. The appraisal also includes a remodeling and sqft. addition at a cost of $396,000 which will then move the facility to 25 beds including residents with 13 private rooms and 6 semi-private rooms (12 residents), the potential gross annual income then becomes $1,024,000 with an annual NOI of $309,364. These numbers supported by comparable data have the vacancy rate of 8% annually and more importantly include a management cost of 2.5% of the effective gross income. This ALF has been vacant for the past 10 months as the current owner/operator is ready to move on with the next stage of his life. He currently lives in a detached 600 sqft. 1 bedroom detached house on the grounds. While running the ALF he has taken great pride in running the ALF and has had ZERO deficiencies with the state in the last three years. LIS#AL10832 All supporting documentation available upon request. Jump on this opportunity.

Directions to 10917 MISTLETOE DRIVE, THONOTOSASSA, FL 33592

Fort King to Mistletoe. Turn right at the ALF sign.

Features of 10917 MISTLETOE DRIVE, THONOTOSASSA, FL 33592

Heating/Cooling

  • Central air
  • Central heat
  • Electric heat

Exterior

  • Block exterior
  • Frame exterior
  • Stucco exterior

Lot

  • Lot acreage is: 2.96
  • Lot dimension is: 243x700
  • Lot has lake access
  • Lot has lake view
  • Lot has water view
  • Lot number: 23
  • Lot on or near lake
  • Lot zoned: ASC-1
  • Oversized lot
  • Waterfront lot
  • Waterfrontage: 240

Interior

  • Security system
  • Tile flooring
  • Wood floors

Roofing

  • Shingle roof

Construction

  • Construction status: Existing

Other

  • Horses allowed
  • Tax year: 2016

Mortgage Payments for 10917 MISTLETOE DRIVE, THONOTOSASSA, FL 33592

The approximate monthly Principal & Interest payment for this property would be $7,288. This payment is based on a 30-year loan at a fixed rate of 3.85 % with a down payment of $150,000. Actual lender interest rates and loan programs may vary.

Use our Mortgage Payment Calculator to determine a more exact payment estimate.