Description
This 0.22-acre riverfront lot is located on a private island in Alva, FL. The property features an existing 480 sq. ft. frame structure with a front deck and grill pits, though its condition is unknown and should be considered a complete renovation or tear-down project. Accessible only by boat, the property offers true off-grid privacy with no water or electric utilities currently connected. The county has assessed the property at over $200,000, creating a massive potential equity spread at the current asking price.
🛠️ Project Scope (Off-Grid/Recreational)
Access: Boat-only access; closest ramp is nearby for easy transit.
Utilities: True off-grid setup required (solar/generator for power, rain catchment/well for water, composting/septic for waste).
Existing Structure: Frame cabin is likely a shell; requires structural inspection or demolition for a new camp/cabin build.
Site Prep: Clearing of overgrowth (seller has not visited in years) and inspection of existing deck/grill areas.
Usage: Ideal for a fish camp, weekend adventure retreat, or Airbnb “glamping” experience.
🟣 Market Analysis & Comps
Direct comparable sales for private island lots are non-existent, making this a unique “unicorn” asset.
Assessment Value Play: The most critical data point is the County Assessment of >$200,000. Tax assessments often lag below market value, so an assessment this high suggests the county views the river frontage as premium acreage
Calculating a traditional ARV is difficult due to the lack of “island home” sales. However, basing value on the county’s assessment and the premium nature of private river frontage: Estimated Value (As-Is Land): $90,000 – $125,000 (The $200k assessment suggests significantly higher upside if utilities/access were improved or a viable structure was confirmed).