18 Highway 40 West

Inglis, FL 34449

$950,000
Price
Beds
7,250 Sq. Ft.
$131 / Sq. Ft.
7,250
Sq. Ft.
$131
per Sq. Ft.

Description

Prime Multi-Unit Shopping Plaza, has 7,250 rentable Sq. Ft. and is divided into 6 units. One is also further divided to accommodate an A and B to provide a total of 7 units. Each of the 6 are deeded separately and can be sold together or separately in the future. All this is a haven for outdoor enthusiasts and sportsmen, offering a wealth of opportunities in Inglis, Florida, Levy County, known as 'Florida’s Natural Paradise'. Situated at the intersection of Highway 40 and US 19 (with a combined AADT...Prime Multi-Unit Shopping Plaza, has 7,250 rentable Sq. Ft. and is divided into 6 units. One is also further divided to accommodate an A and B to provide a total of 7 units. Each of the 6 are deeded separately and can be sold together or separately in the future. All this is a haven for outdoor enthusiasts and sportsmen, offering a wealth of opportunities in Inglis, Florida, Levy County, known as 'Florida’s Natural Paradise'. Situated at the intersection of Highway 40 and US 19 (with a combined AADT of 14,300), occupying the South-East corner and accessible from two roads, both County Highway 40 E. and Palmetto Drive behind the subject property, with an designated 66' wide driveway access, lies the subject property: a 1.80 + or -- acre parcel, with 200 feet of Highway 40 frontage and less than 150 feet from US19/US98, zoned retail/commercial in the Municipal Service District, part of the Spring Protection Area. This zoning allows for 70% F/RR and A/RR coverage, permitting a variety of uses including Urban Services, Commercial, and even increased residential density for the subject parcel and the surrounding parcels, paving the way for more suburban development in the future. To the South, the 66' drive access provides for the possibility of additional expansion behind the subject building and or a drive through, if ever needed.
? 90% leased to long term tenants and anchored by a national tenant, Subway. The multiple tenants and individual deeds provide for a stable income or cash-flow in the future as well as options for selling the units individually. This subject building was constructed in late 1995 and has been maintained over the years with many improvements. In 2023 the entire roof was replaced (yes, with a 15 year guarantee, that is transferrable). The parking lot was re-surfaced in 2021 and the overall building is in above average condition. There is no differed maintenance. These spaces are highly usable and functional for a variety of general retail, professional/medical office users and service companies. All areas are finished beautifully with quality building materials that leave a lasting impression. Further upgrades include new HVAC installed between 2009 and 2023, a video monitoring system, also a fenced in area for storage. This is an Attractive Investment Opportunity: With its prime location, versatile zoning, functional design, and quality finishes, the Plaza presents an attractive investment opportunity for potential tenants or buyers seeking retail/commercial space in the area. The property taxes are low at $8,400.00/year and the building insurance is only $5,700.00 per year. The gross income is currently at $88,000.00 per year. Please keep in mind, this property is anchored by a Subway location that has been there for over 15 years, its literally a fixture of the community and has just renewed the lease. There is room to escalate the rents in the future. Florida has been very desirable for many reasons, but no state income tax and the growth it has seen in the past two decades is incredible. Now, this area of Levy County has been selected by several developers and large tracks of land have changed hands in the past 6 months. We are talking about several thousand acres. Also Withlacoochee Electric Co-Operative has made public plans for additional expansion and has the acquired land. This property is a "Crown Jewel" for any investor. No one will pay for potential, so we are including it for free!
  1. Listed by Shawn Poole • SNAP REALTY LLC

Property Details for 18 Highway 40 West

Subdivision Name
PLAZA 40
Township
17S
Waterfront
No
LISTING UPDATED: 10/05/2024 04:56 AM

Property Details for 18 Highway 40 West

StatusActive
MLS #W7868880
Days on Market39
Taxes$639 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeCommercial Sale / Mixed Use
Year Built1995
Lot Size0.32 AC / 14,119 SF
CountyLevy County

Building Information for 18 Highway 40 West

Stories-Residences-Year Built1995Lot Size0.32 AC / 14,119 SF

Property Information for 18 Highway 40 West

Summary
Location and General Information
  • Building Area Source: Public Records
  • Building Area Total: 7250.0
  • Building Area Units: Square Feet
  • Directions: US 19 North to East on Highway 40
  • Mls Major Change Type: New Listing
  • Major Change Type: New Listing
  • Listing Service: Full Service
  • Road Frontage Type: County Road
  • Unit Number: No
  • Street Number: 18
  • Street Name: HIGHWAY 40
  • Street Direction Suffix: E
  • State: FL
  • City: INGLIS
Taxes and HOA Information
  • Tax Legal Description: 02-17-16 PLAZA 40 CONDOMINIUM UNIT 18 OR BOOK 1701 PAGE 229
  • Tax Lot: 18
  • Tax Year: 2023
Virtual Tour
Property
Lot Information
  • Additional Parcels: No
  • Parcel Number: 20988-018-00
  • Total Acreage: 1/4 to less than 1/2
  • Total Num Buildings: 1
  • Water Access: No
  • Water Extras: No
  • Living Area: 7250
Property and Assessments
  • Year Built Numeric: 1995
  • Flood Zone Code: AE
  • New Construction: No
  • Public Survey Range: 16E
  • Public Survey Section: 02
Interior and Exterior Features
Exterior Features
  • Construction Materials: Block, Stucco
  • Foundation Details: Slab
  • Pool: None
  • Pool Private: No
  • Waterfront Feet Total: 0
Interior Features
  • Cooling: Central Air
  • Living Area Units: Square Feet
  • Water View: No

Property History for 18 Highway 40 West

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 18 Highway 40 West

Taxable ValueLand-Additions-Total-
Tax Record2023$639 ($53 / month)
Home Facts
Total Finished SqFt1,000 SqFtAbove Grade Finished SqFt1,000 SqFtStyleStoresYear Built1995Year Renovated1999CountyLEVYAPN2098801800

Schools near 18 Highway 40 West

This home is within Levy.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 4 to 12
Public - K to 12
Public - K to 5
Rating
School
Distance
Yankeetown School
PublicPK to 8

Hilltop Alternative School
Public4 to 12

Levy Virtual Instruction Program
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

18 Highway 40 West is a mixed use property for sale in Inglis, FL 34449. This property was listed for sale on October 4, 2024 by SNAP REALTY LLC, it's currently listed at $950,000. This listing's school district is Levy. Nearby schools include Yankeetown School, Hilltop Alternative School and Levy Virtual Instruction (Course Offerings). 18 Highway 40 West is a 0-bed, 0-bath, 7,250 sqft mixed use property built in 1995.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of SNAP REALTY LLC

Based on information from one of the following Multiple Listing Services: Pensacola Association of REALTORS®, Amelia Island Nassau County Association of REALTORS and NEFMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Pensacola Association of REALTORS®, Amelia Island Nassau County Association of REALTORS and NEFMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.