This two-lot assemblage totaling 4. 78± net acres is situated at the SE corner of the signalized intersection of Pine Ridge Road and Logan Boulevard S, a high traffic intersection boasting almost 70, 000 vehicles per day and surrounded by both established and growing residential communities. Excellent visibility and access from three road frontages, Pine Ridge Road, Logan Boulevard S and Boxwood Way. Subject to amending the GGAMP (Golden Gate Area Master Plan), the current Estate District zoning has the potential of being developed into an ALF project, Place of Worship, School, Nursing Home, and more. The site also offers the potential for Commercial, Gas Station, Car Wash, Drug Store, and Retail use, subject to rezoning as well as amending the GGAMP. Lot 2 has a tenant occupied, 1, 760± SF, 3-bedroom, 2-bathroom pool home built in 1989. Lease is expiring on May 2, 2024. Property is currently on Well & Septic, but Water line is on the south side Pine Ridge Rd and Sewer line is 4, 300' to the west.
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Our Executive Mortgage Banker:
Our Insurance Division:
$4,400,000
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 | $3,520,000 | $3,520,000 | $3,520,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.762% | 6.036% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $22,539 | $22,539 | $30,905 |
Total Monthly Payment | $22,664 | $22,664 | $31,030 |
* 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.