Active

$1,450,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • 15090 sq ft
Overview
  • ID: MFROM688892
  • Bedrooms:
  • Bathrooms: 0
  • Size: 15090 sq ft
Property Details
Remarks
The property comprises 30 units across four concrete buildings, totaling 15,090 square feet on 0.98 acres of mixed-use Commercial/Industrial-zoned land. The site includes three retail units, 25 storage/shop space units of various sizes, a manager’s apartment, and a single-family residence, offering flexibility for both long- and short-term rentals. Strategically located on Recker Highway in Winter Haven, FL, this property features 215 feet of road frontage, a daily traffic count of 17,200 AADT, and 29 parking spaces. Accessibility is further enhanced by two ingress and egress points, improving traffic flow and attractiveness for both tenants and customers. With current occupancy at 40%, this property presents significant potential for growth through increased occupancy and rental adjustments to market rates. Financial data for 2023 reflects an Effective Gross Income (EGI) of $141,273 at a 6.1% cap rate, with trailing 2024 projections indicating an EGI of $151,773 at a 6.39 % cap rate. Anticipated improvements could potentially increase the cap rate to 11.62% at 100% occupancy, thereby enhancing return on investment. Located within the expanding Lakeland-Winter Haven MSA—a key logistics hub in Florida with a population of approximately 819,000 and an annual growth rate of 3.24%—this property benefits from excellent access to major transportation routes, including the 570 Toll Road, US Hwy 92, Hwy 27, and Hwy 60. Situated just 12 miles west of Lakeland, it enjoys close proximity to key commercial centers, which further enhances its appeal for prospective tenants. This property is positioned as a promising, growth-oriented investment. With month-to-month leases currently in place, a new owner has the flexibility to increase occupancy, stabilize rents, and optimize cash flow. This adaptability enables the realization of the property's potential for a higher cap rate and substantial income growth, making it a compelling opportunity in the Lakeland-Winter Haven market. Disclaimer: All information provided herein is for marketing purposes only and is not guaranteed for accuracy. Prospective buyers or tenants are encouraged to conduct their own independent due diligence. The seller, broker, and associated parties make no representations or warranties, expressed or implied, as to the accuracy or completeness of this information. All dimensions, zoning details, financial data, and other property-related facts should be independently verified. Please consult with appropriate licensed professionals before making any investment or purchasing decisions.
Financial Considerations
Price:
$1,450,000
HOA Fee:
N/A
Tax Amount:
$7767.09
Price per SqFt:
$96.09
Tax Legal Description:
COMM INT OF N LINE OF SE1/4 OF NW1/4 & N R/W SR 655 RUN SELY ALONG R/W 119.5 FT TO POB THENCE NELY AT A 90 DEG ANGLE 198.93 FT SELY PARALLEL TO N BNDRY SR 655 263.59 FT SWLY AT A 90 DEG ANGLE 199 FT TO R/W NWLY ALONG R/W 263.29 FT TO POB LESS W 50 FT THEREOF ABOVE DESC INCLUDES PT OF LOTS 15 & 16 OF BRYSONS R H SUB PB 4 PG 16 & BEG 751.64 FT E OF NW COR OF SE1/4 OF NW1/4 RUN SELY ALONG R/W 6.7 FT SWLY AT RT ANGLES 199 FT M/L TO SR R/W NWLY ALONG R/W 9 FT NELY 196.85 FT E 2.6 FT TO POB
Exterior Features
Lot Size:
42519
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
Parking Spaces - 19 to 30
Roof:
Metal, Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
N/A
Cooling:
Central Air
Appliances:
N/A
Furnished:
No
Floor:
Concrete
Levels:
N/A
Additional Features
Property Sub Type:
Warehouse
Style:
N/A
Year Built:
1965
Construction Type:
Block, Brick
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    3545 RECKER HWY
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