2523 US Hwy 27 S, Avon Park, FL 33825
sale
$1,500,000
|
Other
Courtesy Of Advantage Realty
HERON BAY CENTER VALUE-ADD INVESTMENT | OWNER-USER OPPORTUNITY | EXCEPTIONAL REPLACEMENT-COST ADVANTAGE Offered at $1,500,000 | Approximately $135/SF Including Land Acquire an established income-producing commercial asset at a fraction of today's estimated replacement cost! Strategically positioned along highly traveled US Hwy 27 in Avon Park, Florida, Heron Bay Center offers investors and owner-users a compelling opportunity to acquire an 11,122+/- SF, two-story, multi-tenant office/retail center with existing rental income, significant upside potential, and an attractive acquisition basis. PRICED WELL BELOW ESTIMATED REPLACEMENT COST! At approximately $135/SF, including land, Heron Bay Center presents a distinct cost advantage compared with estimated new construction costs approaching $300/SF or more, excluding land and additional development expenses. MULTIPLE PATHS TO VALUE CREATION Featuring approximately 12 individually identified suites, the property offers an attractive combination of established tenants, below-market rental rates, and available space for additional leasing or owner occupancy. Vacant suites are being marketed at starting rates of $16+/RSF annually on a modified gross basis, providing opportunities to enhance rental income through lease-up and future rent adjustments as market conditions and lease terms permit. AN IDEAL OWNER-USER STRATEGY Establish your business headquarters while generating income from neighboring tenants to help offset ownership expenses. Occupy available space, expand as opportunities arise, and build equity in a commercial asset that could continue producing rental income long after your business is sold or you retire. STRATEGIC LOCATION & PROPERTY HIGHLIGHTS Prominent frontage and exposure along US Highway 27 Scenic Lake Glenada views South Florida State College located across the lake Adjacent to the 250-space Lake Glenada RV Resort Approximately 12 separately identified commercial suites Existing rental income with additional leasing potential Flexible investment and owner-occupancy possibilities PROJECTED STABILIZED INVESTMENT PERFORMANCE Financial Metric/Seller's Pro Forma Asking Price: $1,500,000 Projected Annual Gross Rental Income: $187,312 Projected Annual NOI: $104,573 Projected Capitalization Rate: 6.97% Acquisition Price/SF: Approximately $135 Projections are based on the seller's stabilized operating assumptions and are not representative of guaranteed or current operating performance. All measurements, rental rates, construction-cost comparisons, financial projections, and other property information are approximate and subject to independent buyer verification. Future performance is not guaranteed.
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Property Features
- Age: 41-50 Years Old
- Architecture Style: Other
- Cooling System: Electric
- Cooling System: Central Air
- Floors: 2
- Heating System: Electric (Heating)
- Heating System: Central
- Legal Description: MAXCY PARKWAY SUB PB 4-PG 72 LOTS 86-87-88-89 BLK C -HERON BAY CENTER-
- MLSID: 328753
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