Listing by: Matthew Walsh, FUTURE HOME REALTY INC

0 Beds

0 Bath

5,355 SqFt


FULLY RENTED AND PRICED TO SELL at approximately 8% CAP RATE, this commercial building has 6 suites which are currently divided into four functioning sites and long term lessee for outdoor billboard. Want six separate units? With a small remodel each of 6 units would have 2 exit doors and a 1/2 bath. Currently, 2 remodeled suites just rented for $1200 with 2 year lease and 2, 2 year renewal w/ 3% escalation clause. Owner knows rents are low and has two long-term tenants at lower than market rate, and recently leased unit 4 for $800 for one year, discounted for friend. Even with the reduced rents, this excellent building is at an excellentcap rate, and has potential for being much greater: run the numbers! 5 AC units, 2 which are newer. Roof approx 10-12 years old. Plenty of parking and has extra space that has been rented out. Owners suites (5 & 6) are pristine with LVP flooring and attractive new carpet, 2 baths, reception area and office, executive office, class room or large workroom with separate entry, 2 storage rooms and another small office/utilities area. Suite 1 has been leased about 2 years; Suite 2 & 3 has been leased to same client for approx 6 years and leases suite 3 for reduced amount to use as storage. Bill board has separate meter, as does Suite 2, and rents for $775 per month (very long term) but landlord pays electric and water, excluding the billboard. Total yearly rents: $52,500; estimate of total expenses: $14,555. Don't move slow on this one! With lower price and new leases, this one is ripe!

Property Details
Price $475,000
Total Baths 0
Lot Size 111.4x130
Lot Size Area 16553
Acres 0.38
Property Type Commercial
Sub type OfficeSpace
MLS Sub type Office
Stories 1
Year Built 1973
Roof Shingle
Heating Central Building,Zoned
Foundation Slab
Parking Description 13 to 18 Spaces
Geographic Data
Directions Going north on Hwy 98 go rt on N crystal lake Rd then rt on Commercial. park dr on rt
County Polk
Latitude 28.025271
Longitude -81.925572
Market Area 33801 - Lakeland
Address Information
Postal Code 33801
State FL
Country United States
Listing Information
Listing Office Phone 813-855-4982
Listing Agent Matthew Walsh
Listing Agent Phone 813-625-5820
Special listing conditions None
Virtual Tour URL
MLS® Information
Days on market 111
MLS® Status Active
Listing Date Jan 1, 2021
Listing Last Modified Jul 3, 2021
Tax ID 24-28-29-248150-000230
Tax Year 2020
Tax Annual Amount 5105
MLS® Area 33801 - Lakeland
MLS® # T3282038

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