67 Acres Prime Ocean Front Atlantic Coast, Southeast US
- Listing Id: 8027
- Broker Name: Jimmy Cagle
- Category: Restaurants
- Asking Price: $8,000,000.00
- EBITDA: $272,289.00
- Real Estate: $150,000.00
- Cash Flow: $314,814.00
- Inventory: $8,000.00
- No. Of Full-Time Employees: 6
- No. Of Part-Time Employees: N/A
- Gross Income: $330,000.00
- FF&E: $125,000.00
- Year Built: 1954
- Address: Click Here
- Zip Code: Click Here
- City: Plainville
- State: CT
- Country: United States
- Tenancy: Single
- Occupancy: N/A
- Lot Size: N/A
- No. Of Stories: N/A
- No. Of Indoor Seating: N/A
- Inside Sq. Ft: N/A
- Available: Yes
Description
67 acre virgin parcel of land w/ Atlantic ocean on 3 sides• Family-owned since 1954• Parcel has never been offered for sale, virgin property• Extremely desirable Southeastern US resort location• Property is owned by 94-year-old woman who must sell immediately to endow her children's trust• 24 buildable acres• 42 wetland and beach acres• 14 lots are direct ocean front ($1M+ each), 25 more lots are partial ocean or intracoastal front• Environmental and wetland surveys are already completed• Min. 35 - max. 39 buildable lots• Planned gated community with 50-ft wide road• Lots will be 60-ft wide and 200 - 800 ft deep• Undeveloped beachfront lots are extremely scarce in this area, generally sell for at least $1 million+• This deal is priced to sell right now for only $8 Million• Appraiser walked property yesterday, informal appraisal of $14 Million+• Buyer must have ocean front development experience and financial capability to close quickly, no messing around
Financial Summary
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