603 FRONT Street, Welaka, FL, 32193 | $1,500,000

Seller open to all reasonable offers! Virtual rendering (first picture) to illustrate commercial ideas/opportunities. Current zoning permits this space to be creatively activated w ideas such as a boutique hotel, brewery, wedding venue, marina, or restaurant. This authentic waterfront property provides a unique opportunity because of its versatile use, location, and various revenue stream possibilities. Situated on . 65 acres with 148 ft of waterfront and 100+ year old oak canopies, it currently offers a one-of-a-kind craftsman cottage, 2 studios or offices, 6 boat slips, and a concrete pad—all with backup power from a 22 KW propane generator. Utilize the cottage for a hotel dining room, bridal suite, marina storefront, etc. Add a barn or A-frame to the concrete pad for weddings with stunning sunset views or build a hotel. Multiple revenue streams available bw the boat slips, cottage, and 2 studios. The town of Welaka aspires to create a downtown main street bw Elm & Palmetto St, which The cottage was remodeled in 2017 with modern amenities while thoughtfully maintaining the historic integrity. This open floor plan with artistic touches incorporates finishes like African Wenge & Walnut flooring, a pecky Cypress live edge vanity, beautiful custom stained-glass, reclaimed beams, and panoramic windows overlooking the gardens, deck, fire pit, and St. Johns River for stunning Western sunsets. The private second bed/bath downstairs also has a separate entrance for potential renters. This property is across from 387, 000 acres of the Ocala National Forest. It's truly a wildlife sanctuary with animals like bald eagles, manatees, and herons in your back yard. Welaka is a quaint town with convenient access to St. Augustine, Jacksonville, and Daytona. It's a golf cart community with gravel paths canopied with live oaks. It is home to entrepreneurs, artists, veterans, and even world-class outfitter brands, which is fitting considering the river is known as the Bass Fishing Capital of the World and Welaka means river of lakes. 1, 000 sqft cottage, 800 sqft studio

Features

  • Property Type: Mixed Use
  • Current Use: Commercial, Hotel/Motel, Marina, Multi-Family, Office, Residential, Retail, Single Family
  • Construction: Frame, Wood Siding
  • Heating: Central
  • Year Built: 1930
  • Approx Sq. Feet: 1,800
  • Acreage: 0.65
  • Lot Desc: Other
  • Water Front: Yes
  • MLS#: 1221648
  • Days on Market: 361 days
  • Website: https://www.raveis.com
    /prop/1221648/603frontstreet_welaka_fl?source=qrflyer
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NMLS Mortgage Loan Originator ID 16953

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603 FRONT Street, Welaka, FL, 32193

$1,500,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

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 $1,200,000 $1,200,000 $1,200,000
Term 360 months 360 months 180 months
Initial Interest Rate** 6.625% 6.750% 6.625%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.282% 6.864% 6.810%
Monthly Tax Payment N/A N/A N/A
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $7,684 $7,783 $10,536
Total Monthly Payment $7,809 $7,908 $10,661

* 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.