The property is 99. 88 contiguous acres with approx. ½ mile US Hwy 41 frontage. It is located directly across from M-1 Homes 750 home residential development and just ¾ miles north of State Road 52. The property features three lakes, all spring fed. Open acres are all high and dry currently used for pasture. There is access to public sewer and water lines. Primary bounds are US41 to the west, Leland Ave. to the north, and Pilot Country Estates to the southeast, a fly-in community of estate homes.
The continued and immediate growth of Pasco County in and around the area would make this parcel a very good acquisition. With the construction of the SR 52 and US 41 interchange in full swing, plans for a new Moffitt Cancer Center just a few miles to the south, a 50+ acre mixed use development just minutes to the west, new multi-family and single family residential nearby and even some retail in the planning stages makes the property a solid purchase.
The Pasco County Board of Commissioners has passed a moratorium on car wash facilities, storage facilities and multi-family housing developments. It excluded any new projects north of SR 52 meaning the property is open to single family homes, townhomes and multi-family apartment complexes.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $6,880,000 | $6,880,000 | $6,880,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 7.250% | 7.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.942% | 7.354% | 7.207% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $46,934 | $46,934 | $61,839 |
Total Monthly Payment | $47,059 | $47,059 | $61,964 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.