2886 N C 470, Lake Panasoffkee, FL 33538 - Photo 1

1/1

$385,000

Sold
Closed
Single Family
2 Beds
1 Full Bath
1,086 Sq. Ft.

1/1

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 potential to create up to 13 single-family lots along the canal front and outlet river, this site is perfect for transforming into a picturesque waterfront community.Currently, the property includes one home and one mobile home, both requiring TLC, along with three dilapidated mobile homes that need to be removed. 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.

Full Property Details

Full Property Details for 2886 N C 470

General

Sold For: $385,000
Taxes: $3,601 (2024)
Status: Closed
Type: Single Family
Source: MidFloridaRegionalMLS
MLS ID: G5092914
Added to Site: 339 day(s) ago

Rental Information

Min. Lease: No Minimum

Interior

Number of Rooms: 4
Interior Features: Ceiling Fan(s)
Appliances: Range, Refrigerator
Flooring: Other

Rooms

Bathrooms

Total Bathrooms: 1
Full Bathrooms: 1

Bedrooms

Total Bedrooms: 2

Other Rooms

Laundry: Other

Exterior

Exterior Features: Other

Location

Area: 33538 - Lake Panasoffkee
County: Sumter
Development Name: 33538 - Lake Panasoffkee
Subdivision: N/A
Driving 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!
Direction Faces: East

Community

Community Name: 33538 - Lake Panasoffkee

Heating & Cooling

Cooling Type: Central Air
Heating Type: Central

Utilities

Sewer: Septic Tank
Water: Public
Utility Description: Electricity Connected

Structural Information

Exterior Const.: Other
Roof: Shingle
Stories/Levels: One
Square Feet: 1,086
Sq. Ft. Source: Public Records
Living Area: 1,086 Sq. Ft.
Year Built: 1978

Lot Features

Lot Size (Acres): 3.78
Lot Size (Sq. Ft.): 94,090
Lot Size: 2.16
Street/Road Desc.: Paved

Financial Considerations

Tax Amount: $3,601
Tax Year: 2024

Disclosures and Reports

Ownership: Fee Simple
Special Conditions: None
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 28
Flood Zone Info: AE
APN: F31023
Property ID: F31023
Block/Lot/Section: 00/00

Listed by Flamingo Real Estate & Mngmt
Sold by Flamingo Real Estate & Mngmt

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Price & Sales History for 2886 N C 470

Date

Details

Price

Change

Source

8/22/2025

Sold

$385,000

-3.73%

MLS

2/13/2025

Listed

$399,900

—

MLS

Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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2886 N C 470, Lake Panasoffkee, FL 33538 (MLS# G5092914) is a Single Family property that was sold at $385,000 on August 22, 2025. Want to learn more about 2886 N C 470? Do you have questions about finding other Single Family real estate for sale in Lake Panasoffkee? You can browse all Lake Panasoffkee real estate or contact a Coldwell Banker agent to request more information.

2886 N C 470 Lake Panasoffkee, FL 33538