1421 Commercial Park Drive, Lakeland, FL 33801
sale
$475,000
|
Office
Courtesy Of Future Home Realty, Inc
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!
Read More About This Property
Read Less About This Property
Copyright © 2021 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Virtual Tour
Property Features
- Age: 41-50 Years Old
- Architecture Style: Other
- Cooling System: Zoned A/C
- Cooling System: Central A/C
- Exterior Type: Brick
- Floor Covering: Linoleum
- Floor Covering: Carpet
- Floors: 1.0
- Heating System: Zoned
- Legal Description: COMMERCIAL PARK SOUTH PB 47 PG 50 LOT 23
- MLSID: T3282038
- Roof Type: Composition Shingle
Data powered by Attom Data Solutions. Copyright© 2020. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$600,000
Retail
1322 E Memorial Boulevard
Lakeland, FL 33801
Building: 6,679 sq. ft.
|
Land: 0.61 Acres
Courtesy Of Coldwell Banker Residential Real Estate
sale
$495,000
Land-commercial/Business/Agricultural/Industrial
302 W Magnolia St
Lakeland, FL 33803
Land: 0.95 Acres
Courtesy Of Elliott Realty Services Inc
sale
$475,000
Office
1421 Commercial Park Drive
Lakeland, FL 33801
Building: 5,355 sq. ft.
|
Land: 0.38 Acres
Courtesy Of FUTURE HOME REALTY INC
sale
$450,000
Commercial Land
0 Us Highway 98 Highway N
Lakeland, FL 33810
Land: 2.26 Acres
Courtesy Of Keller Williams Realty of Jupiter