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$425,000

2 Beds 1 Baths 1,086 SQFT 2.16 Acres
Type: Single Family

2886 N C 470
LAKE PANASOFFKEE, FL 33538

MLS#: G5115539
Mark Abdel
Mark Abdel
The Real Estate Advantage
Agent
Phone: 651.283.8251
Office: 952.226.7700
Presented by: FLAMINGO REAL ESTATE & MNGMT with 352-689-1000. - 352-689-1000

Property Description

 

Located in the heart of Lake Panasoffkee at the intersection of C-470 and County Road 414, this property offers a unique opportunity for waterfront residential development. With the approved plots for up to 13 single-family manufactured homes along the canal front and outlet river, or 8 "cottages" 600-800 sq ft in size, already plotted by the county. All approved site plans are recorded with the county, and available to interested buyers upon request to the listing agent. This site is perfect for transforming into a picturesque waterfront, river access, income producing community. Currently, the property includes one home and five mobile home, Three of the mobile homes are in disrepair and will require removal, one is a lot lease and one is rented. The site build home has a new roof replaced in 2025, and new flooring throughout. The redevelopment possibilities are immense, allowing for the creation of a modern, inviting neighborhood that takes full advantage of the stunning waterfront views. County Road 414 provides direct access to a scenic walking bridge that overlooks the outlet and leads to Marsh Bend “Outlet” Park. This park is a local favorite, featuring a public boat ramp, walking trails, a beach volleyball court, picnic areas, fishing spots, grill stations, and a pet area, enhancing the appeal of this location for future residents. Discover the potential of this exceptional property and imagine the waterfront lifestyle it can offer. Call or email us today to explore all the development possibilities.


 

Interior Features

Bedrooms

Total Bedrooms2

Bathrooms

Half Baths0
Total Baths1

Other Interior Features

LivingAreaSource0 sqft
Air Conditioning Y/NYes
Fireplace Y/NNo
FlooringLuxury Vinyl
Furnished Y/NUnfurnished
Heating Y/NYes
Interior AmenitiesCeiling Fan(s)
Laundry FeaturesOther

General

Additional Parcels DescriptionF31E029
Additional Parcels Y/NYes
AppliancesRange, Refrigerator
Building Area Units0 sqft
Carport Spaces1
Carport Y/NYes
CityLAKE PANASOFFKEE
Construction MaterialsOther
CoolingCentral Air
CountySumter
DirectionsFrom the intersection of CR 470 and SR 44, head south on CR 470 to Lake Panasoffkee. As soon as you cross the outlet bridge the property is located on the right. Look for sign!
DockY/NNo
Elementary SchoolLake Panasoffkee Elementary
Facing DirectionSoutheast
Flood Zone CodeAE
Full Baths1
Garage Y/NNo
HeatingCentral
High SchoolSouth Sumter High
In Law Suite YNNo
Land Lease Y/NNo
Lease Considered Y/NYes
Legal DescriptionBEG 1285.69 FT S 89 DEG 55 MIN 42 SEC W OF 1/4 SEC COR BETWEEN SEC 30 & 31 POINT BEIN G ON THE S R/W ST RD 470 SAID POINT ALSO BEING ON A CURVE CO NCAVE TO THE NE HAVING A RADIUS OF 956.87 FT THENCE WIT H A CHORD BEARING N 63 DEG 46 MIN 55SEC W 241.2 9 FT TO THE P.C. OF SAID CURVE S 31 DEG 17 MIN 41 SEC W 125.16 FT TO SEC LINE 277.50 FT FROM POB S 38 DEG 38MIN 45 SEC W 17.78 FT T O C/L OF A CANAL AT N/LY END THENCE ALONG C/L S 38 DEG 38 M IN 45 SEC W 155.61 FT S 59 DEG 54 MIN W 126.52 FT N 85 DE G 47 MIN W 117.47 FT N 55 DEG 40 MIN W 235.48 FT TO THE E/LY BA NK OF PANASOFFKEE RIVER S 48 DEG 28MIN 22 SEC W 105.89 FT ALONG THE MEANDERS OF RIVER TO R/W OF OLD ROAD ALONG R/W S 55 DEG 40 MIN E 230.41 FT S 72 DEG 42SEC E 120.84 FT N 85 DE G
LevelsOne
Living Area Units0 sqft
Lot Size Square Feet94,090 sqft
Lot Size UnitsAcres
MLS Area33538 - Lake Panasoffkee
Middle/Junior High SchoolSouth Sumter Middle
Minimum LeaseNo Minimum
New ConstructionNo
Occupancy TypeTenant
OwnershipFee Simple
Property SubtypeSingle Family Residence
Property TypeResidential
RoofShingle
Senior Community Y/NNo
SewerSeptic Tank
Standard StatusActive
StatusActive
Subdivision NamePANASOFFKEE FOREST
Tax Annual Amount$3,631
Tax Lot29
Tax Year2025
Total Rooms4
UtilitiesElectricity Connected
Virtual TourClick here
Water Access TypeCanal - Freshwater
Water Access Y/NYes
Water ViewCanal
Water View Y/NYes
Waterfront FeaturesCanal - Freshwater
Year Built1978
ZoningRPUD

Exterior

Building Area Total1,264 sqft
Covered Spaces1
Exterior AmenitiesOther
Foundation DetailsSlab
Lot Size Acres2.16
Lot Size Area2 sqft
Number of Lots2
Private PoolNo
Road Surface TypeAsphalt
Water SourcePublic
Waterfront Y/NYes

Additional Details

Price History

  

Similar Properties

$425,000

2 Beds 1 Baths 1,086 SQFT 2.16 Acres
Type: Single Family

2886 N C 470
LAKE PANASOFFKEE, FL 33538

MLS#: G5115539
Mark Abdel
Mark Abdel
The Real Estate Advantage
Agent
Phone: 651.283.8251
Office: 952.226.7700