104 Us Highway 27 S, Avon Park, FL 33825
sale
$1,200,000
|
Other
Courtesy Of Advantage Realty
VALUE-ADD RETAIL + SELF-STORAGE REDEVELOPMENT OPPORTUNITY - PRIME US-27 FRONTAGE Rare chance to acquire a high-visibility commercial property along US-27 in Avon Park with exceptional redevelopment upside. The property currently features a 5,670 SF retail strip center fronting US-27, a 3,198 SF secondary building, and an 875 SF apartment, offering immediate income with significant repositioning potential. The proposed redevelopment concept transforms the property into a modern hybrid retail + self-storage facility, capitalizing on strong highway exposure and growing demand for climate-controlled storage. The concept includes 5 renovated retail suites along US-27, second-floor climate-controlled storage (~5,000 SF) above the retail, a signature tower/parapet feature visible from the highway, three neighborhood retail suites in the rear building, and a secure drive-up mini-storage courtyard (approx. 60-70 units) positioned behind the buildings. This configuration creates a diversified income property with multiple revenue streams from retail, climate storage, drive-up storage, and residential rental. Based on market rents and the proposed layout, the stabilized redevelopment scenario indicates the potential for significant income growth and value creation compared to the current under-market rents and vacancy.Upside Potential Proforma 8%+- Cap Rate /$214k+- NOI;Ideal buyers may include: 10 Federal Storage, Absolute Storage Management, Out O' Space Storage, Prime Storage Group or Independant Operator affiliated with UHaul. Current below market rate tenants including a hair salon, pet store, nail salon, Bingo parlor,etc. Buyer to verify all information and perform independent due diligence.
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Property Features
- Age: Over 50 Years Old
- Amenities: Ceiling Fan
- Amenities: Disabled Access
- Cooling System: Electric
- Cooling System: Central Air
- Cooling System: Wall Unit(s)
- Exterior Type: Concrete Block
- Floor Covering: Vinyl
- Floor Covering: Linoleum
- Floor Covering: Carpet - Full
- Floor Covering: Carpet
- Floors: 2
- Heating System: Electric (Heating)
- Heating System: Central
- Heating System: Other (Heating)
- Legal Description: TOWN OF AVON PARK IN 21-33 -28 S 180 FT OF LOTS 9 + 10 -PLAZA- BLK 17
- MLSID: 321898
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