18 Highway 40 West
Description
? 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!
- Listed by Shawn Poole • SNAP REALTY LLC
Property Details for 18 Highway 40 West
Property Details for 18 Highway 40 West
| Status | Active |
|---|---|
| MLS # | W7868880 |
| Days on Market | 48 |
| Taxes | $639 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Mixed Use |
| MLS Type | Commercial Sale / Mixed Use |
| Year Built | 1995 |
| Lot Size | 0.32 AC / 14,119 SF |
| County | Levy County |
Building Information for 18 Highway 40 West
Property Information for 18 Highway 40 West
- 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
- Tax Legal Description: 02-17-16 PLAZA 40 CONDOMINIUM UNIT 18 OR BOOK 1701 PAGE 229
- Tax Lot: 18
- Tax Year: 2023
- Virtual Tour URL Unbranded: https://www.propertypanorama.com/instaview/stellar/W7868880
- 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
- Year Built Numeric: 1995
- Flood Zone Code: AE
- New Construction: No
- Public Survey Range: 16E
- Public Survey Section: 02
- Construction Materials: Block, Stucco
- Foundation Details: Slab
- Pool: None
- Pool Private: No
- Waterfront Feet Total: 0
- Cooling: Central Air
- Living Area Units: Square Feet
- Water View: No
Property History for 18 Highway 40 West
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 18 Highway 40 West
Schools near 18 Highway 40 West
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 (Course Offerings) PublicK 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.
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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.
