Waterfront
Address
2886 N C 470, LAKE PANASOFFKEE, FL
Price
$ 425,000
Property Attributes
  • MLS#G5115539
  • TypeSingle Family
  • Listing Status Active
  • CountySumter
  • CityLAKE PANASOFFKEE
  • AreaLake Panasoffkee
  • NeighborhoodPANASOFFKEE FOREST
  • Zip33538
  • StyleSingle Family Residence
  • Year Built1978
  • Taxes$ 3631
  • Price$ 425,000
  • Bedrooms2
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage1086
  • Lot Size2.16 Acres
Data Source:
Stellar MLS
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.

Elementary School Middle School High School
Lake Panasoffkee Elementary Elementary School South Sumter Middle Middle School South Sumter High High School
Price History
7/27/2026 Listed $425,000

General Features

Sewer Septic Tank
Heating Central
Cooling Central Air
Utilities Electricity Connected
Roof Shingle
Appliances Range,Refrigerator
Zoning RPUD
Construction Materials Other
Year Built 1978
Levels One
Property Subtype Single Family Residence
Tax Year 2025
Ownership Fee Simple
Waterfront Features Canal - Freshwater
Additional Parcels Description F31E029
County Sumter
New Construction false
Property Type Residential
Subdivision Name PANASOFFKEE FOREST
Facing Direction Southeast
Garage Y/N false
Total Rooms 4
Full Baths 1
Status Active
Directions From 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!
High School South Sumter High
City LAKE PANASOFFKEE
Senior Community Y/N false
MLS Area 33538 - Lake Panasoffkee
Lot Size Units Acres
Lot Size Square Feet 94090
Carport Spaces 1
Carport Y/N true
Elementary School Lake Panasoffkee Elementary
Land Lease Y/N false
Tax Annual Amount 3631.44
Middle/Junior High School South Sumter Middle
Additional Parcels Y/N true
Lease Considered Y/N true
Virtual Tour https://www.propertypanorama.com/instaview/stellar/G5115539
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Tenant
Tax Lot 29
Legal Description BEG 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
Water View Canal
Water Access Type Canal - Freshwater
Minimum Lease No Minimum
Water Access Y/N true
Water View Y/N true
Flood Zone Code AE
In Law Suite YN false
DockY/N false

Interior Features

Interior Amenities Ceiling Fan(s)
Flooring Luxury Vinyl
Furnished Y/N Unfurnished
Air Conditioning Y/N true
Heating Y/N true
Fireplace Y/N false
Laundry Features Other
Total Bedrooms 2
LivingAreaSource Public Records
Total Baths 1

Exterior Features

Exterior Amenities Other
Water Source Public
Lot Size Area 2.16
Foundation Details Slab
Building Area Total 1264
Lot Size Acres 2.16
Road Surface Type Asphalt
Private Pool false
Waterfront Y/N true
Covered Spaces 1
Number of Lots 2

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Single Family Average in 33538

Price
AVG $380K
$430K
Taxes
AVG $1,506
$3,631
Year Built
AVG 1980
1978

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Listed By
FLAMINGO REAL ESTATE & MNGMT with 352-689-1000. - 352-689-1000

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