REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Hawkins-Poe Corporate

info@hawkinspoe.com +1(253) 274-8981

$ 430,000

Est. payment | -/mo

5,355 SqFt

Save Virtual Tour

$ 430,000

Est. payment | -/mo

Save Virtual Tour

5,355 SqFt

Key Details

Property Type Commercial

Sub Type Office

Listing Status Pending

Purchase Type For Sale

Square Footage 5,355 sqft

Price per Sqft $80

Subdivision Commercial Park South

MLS Listing ID T3282038

HOA Y/N No

Total Fin. Sqft 5355

Year Built 1973

Annual Tax Amount $5,105

Tax Year 2020

Lot Size 0.380 Acres

Acres 0.38

Lot Dimensions 111.4x130

Property Sub-Type Office

Property Description

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. 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 excellent cap rate, and has potential for being much greater: run the numbers! 5 AC units, 2 which are newer. Roof approx 12-15 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, 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!

Location

State FL

County Polk

Area 33801 - Lakeland

Zoning O-1

Interior

Cooling Central Air, Zoned

Flooring Carpet, Linoleum

Exterior

Parking Features Parking Spaces - 13 to 18

Utilities Available Electricity Available, Phone Available

Roof Type Shingle

Building

Story 1

Entry Level One

Foundation Slab

Lot Size Range 1/4 to less than 1/2

Sewer Public Sewer

Structure Type Brick

New Construction No

Others

Tax ID 24-28-29-248150-000230

Ownership Sole Proprietor

Acceptable Financing Cash, Conventional, Trade, FHA, Lease Option, Lease Purchase, Other

Virtual Tour 2 https://www.propertypanorama.com/instaview/stellar/T3282038

Listing Terms Cash, Conventional, Trade, FHA, Lease Option, Lease Purchase, Other

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/T3282038

Listed by FUTURE HOME REALTY INC

Nearby Locations

Hawkins-Poe Corporate

License ID: 9531

+1(253) 274-8981 | info@hawkinspoe.com

1421 COMMERCIAL PARK DRIVE Lakeland, FL 33801

Hawkins-Poe Corporate

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

GET MORE INFORMATION

Go tour this home

1421 COMMERCIAL PARK DRIVE