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This exceptional property is located along the high-traffic State Road 16 corridor, connecting the Elevation Pointe development (under construction) to Mill Creek, Murabella, and World Golf Village. Publix is building a new store less than 1, 200 feet east in Elevation Pointe, which will feature 750 multi-family units and 196, 632 sq. ft. of commercial space. This store will be about 5 miles east of the existing Publix in Mill Creek, highlighting the area's rapid growth. State Road 16 is also set for expansion to five lanes.
The property is directly across from the Elevation Pointe multi-family development. With PUD zoning allowing a wide range of uses (including banks with drive-thru, convenience stores with gas pumps, car washes, quick-service restaurants with drive-thru, and more), this property is an ideal location for various retail developments in the near future.
Lots 2950 (0874100000) & 2960 (0874100030) SR 16 are sold together. Almost 2 acres.
Project Description
This
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$1,499,000
William Raveis Real Estate
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RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,199,200 | $1,199,200 | $1,199,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.750% | 6.125% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.251% | 6.235% | 6.183% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,998 | $7,286 | $10,120 |
| Total Monthly Payment | $7,123 | $7,411 | $10,245 |
* 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.