52+- ACRES located in the heart of the Pocono Mountains, Middle Smithfield Township, Monroe County. It is situated within one mile from 209N, and eight miles north of Stroudsburg, Pa. and Intestate 80. Only one hour and fifteen minutes from New York City and two hours from Philadelphia. In the midst of the most desirable part of the Poconos near Bushkill Falls, Fernwood Resort (5 miles north), 1600 new homes developed by Toll Bros, Shawnee Ski Mountain and Casinos only several minutes away.
This pristine acreage is zoned R-2. It was owned and operated as a basketball camp for 28 years by a famous university basketball coach. The property has approximately 430 feet frontage on Lower Lakeview Drive. On site water and septics. There are a total of 18 buildings. There is a large pond suitable for fishing and boating, swimming pool, five outdoor basketball courts plus a 90 x 120 steel gym building (approximately 10,800 square feet) with two indoor basketball courts. There is a building containing a dining hall with kitchen & deck overlooking beautiful pond which could make an excellent conversion to a restaurant.
The present owner leases a total of ten year round rental units (seven rental units are in two buildings and two buildings are single family dwellings and one 2 bedroom cottage).
A fantastic opportunity for an investor to acquire immediate income and potential to rehabilitate more of the existing buildings and turn investment into a positive cash flow after debt service.
Asking $950,000 (Seller financing may be available to qualified buyer.)
*Buyer broker cooperation is invited.