155 Old St Augustine RdMadison, FL 32340

Property Details for 155 Old St Augustine Rd

Lot size

16.92 AC

Property type

Land

Property subtype

Industrial properties

Description

This exceptional 16.92-acre property in Madison, Florida, presents a unique investment opportunity. Currently operating as a 32-room hotel and RV park, the property boasts a substantial net operating income (NOI) of $300,000 annually, yielding a 7.69% pro-forma cap rate. The asking price is $3,900,000, representing a fee-simple ownership. The RV park, while currently underperforming, offers significant upside potential with improvements underway to bring all hookups to operating standards. Alternatively, the expansive land offers diverse redevelopment possibilities. The property's zoning allows for a wide range of uses, including but not limited to: industrial outdoor storage (IOS), a convenience store, restaurant, or mobile home park. The seller is willing to assist with obtaining any necessary special exemptions following contract acceptance. This versatile property is situated at 155 SW Old St Augustine Rd, Madison, FL 32340, and presents a compelling investment opportunity with substantial potential for increased revenue and return. The property's location provides excellent access to major transportation routes and offers a strong foundation for a variety of commercial and industrial ventures. Don't miss this chance to acquire a prime piece of Florida real estate with multiple high-value development options.

Location Insight

City

Madison

County

Madison

State

Florida

Latitude

30.3921

Longitude

-83.3556

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