Waterfront Redevelopment Opportunity in Old Homosassa!!!!

Retail-Commercial for Sale
Catylist Listing ID: 30651500
Property Subtypes: Mixed Use, Restaurant
Building Size (RSF): 2,370 SF
Gross Building Area: 2,490 SF
Gross Land Area: 1.21 Acres
Sale Price: $750,000
Unit Price: $316.46 PSF
Property Use Type: Investment, Business
Building Name: Starting Gate Restaurant formerly known as the Yulee Cafe
Usable Size (USF): 2,490 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 10/28/2020

Overview / Comments

Life's all about taking advantage of the few opportunities that pass before you in life. I believe this to be one of those opportunities. Not many waterfront commercial properties in the area and there certainly aren't very many commercial waterfront properties in Old Homosassa. If you don't know Old Homosassa, you are missing out. As far as historic goes, it doesn't get much more historic than down here. Yulee Sugarmill operated from 1851 to 1864 and served as a supplier of sugar products for Southern troops during the Civil War. This along with some of the coolest waterfront establishments on the west coast of Florida make Old Homosassa a true destination. This property has the size and ability to be redeveloped into just about anything you want; a Bed & Breakfast, camp retreat, art gallery, and much more. There is currently a thriving restaurant on site with a vacation rental cottage. The Commercial Land Use would allow for multiple vacation rental properties to be constructed, as well supporting operations. Imagine 10-15 vacation rental units, a bait shop, a kayak/paddle board rental, restaurant, gold carts, tiki bar and more all on the same site? This would be something people would drive from miles and miles away to come and be a part of. The canal behind is only suitable for flats boats, pontoon boats, and the like, but there is a small bridge to travel under anyway. You aren't going to attract the big boat crowd, and really, you don't need to. The private boat ramp on site can not be duplicated anywhere. Your guests can come and launch their boats and more all from the same site they lodge at. If you did it right, the income from the restaurant and the vacation rental could carry the property while you get your ducks in a row to develop. The site is currently serviced by city water and sewer is available. One you add sewer the possibilities are endless. This really could be something special located in an area that is already known as being special. Ask about owner finance options.

Additional Details

Nearest MSA: Homosassa Springs
County: Citrus
Taxing Authority: Citrus County
Tax ID/APN: 17E19S320010 00890 0040
Zoning: CLC - COASTAL LAKES COMMERCIAL
Retail Clientele: Family, Traveler, Tourist, Recreation
Property Located Between: The Yulee Historic Sugarmill and the Public Boat Ramp
Property Visibility: Excellent
Largest Nearby Street: Suncoast Blvd
Feet of Frontage: 275
Traffic/Vehicle Count: 2,700
Airports: Tampa International Airport within 70 miles
Site Description: Site is comprised of 3 different parcels. The restaurant sits on 1 parcel, the western most parcel. This parcel is waterfront. The adjacent parcel to the east is also waterfront and used to have an old service repair shop/garage on it. It has been demo'd. The 3rd site fronts Yulee Drive and house s small cottage which was used as a vacation rental at one time. This cottage is currently rented out to an employee who helps run the restaurant and keep and eye on things.
Area Description: An original Florida fishing town, few place can match the feeling of the gulf coast better than Homosassa, Florida. Manatees, paddlers, and boaters cruise these waters heading up to the world-famous Ellie Schiller Homosassa Springs Wildlife State Park. The centerpiece of this incredible Park which features rescued and rehabilitated native Florida wildlife is deep beautiful Homosassa Spring–a second magnitude spring that attracts manatees, fish of all kinds, and people. Descend underwater without ever getting wet in the Fishbowl Observatory. Or take a manatee tour to Blue Waters just outside the park and swim with a manatee. It’s an experience you’ll never forget. Wild manatees use Homosassa Springs as a warm water shelter from November 15 to March 31. The rest of the year, the Park’s rehabilitated manatees swim in the spring. If you want to see a manatee, guaranteed, this is the place. Florida panthers, black bears, red wolves, alligators and a parade of flamingos make this one of Florida’s most incredible wildlife experiences! Please check out our live Homosassa River cam to see what is happening.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1946
Roof Type: Gable
Construction/Siding: Block, Concrete, Stucco
Parking Type: Surface
Parking Description: Unpaved lot
Sprinklers: Dry
Heat Type: Electricity
Heat Source: Central, Wall Units
Air Conditioning: Package Unit, Window Unit
Internet Access: Cable
Zoning Description: COASTAL AND LAKES COMMERCIAL DISTRICT (CLC). See attachment for full description and uses.
Part of Planned Development?: Yes
In Flood Plain?: Yes
Lot Depth: 189
Water Service: Municipal
Sewer Type: Septic
Easements: Water Rights
Land Ownership: Fee Simple
Legal Description: See attached Exhibit A-Legal Description

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 2,663 20,905
Median Age: 58.72 55.01
Households: 1,306 9,672

Contact

Photograph of Listing Agent

David Bramblett

Active Agent Realty, LLC
CE-FL Member
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