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    1421 Commercial Park Drive

    Lakeland, FL 33801
    • $474,000
    • STATUS: Active
    • ON SITE: 132 days
    • MLS #: L4914263
    UPDATED: 12 min ago
    $474,000
    • 0
      BEDS
    • 0.38
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,355
      SQFT
    • $89
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1973
    County:
    Area:

    School Ratings & Info

    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 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!

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    © 2020 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2020-07-10T22:40:06.123.
    www.lightteamorlando.com/homes/103680539
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    1421 Commercial Park Drive Lakeland, FL 33801

    • Price: $474,000
    • Status: Active
    • Updated: 12 min ago
    • MLS #: L4914263
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.38
    Acres
    5,355
    SQFT
    $89
    $/SQFT
    1973
    Built
    Neighborhood:
    Commercial Park South
    County:
    Polk
    Area:
    Lakeland
    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 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!
    Exterior Features

    Adjoining Property Professional Office Construction Materials BrickConcrete Foundation Details Slab Lot Features In City Limits Lot Size Dimensions 111.4X130 Parking Features 13 To 18 Spaces Roof Shingle Water Access Yn No Water Extras Yn No Waterfront Feet Total 0 Waterfront Yn No

    Interior Features

    Accessibility Features Accessible Approach With Ramp Appliances Electric Water Heater Ceiling Height 8 To 9 Feet Ceiling Type Acoustical Cooling Central AirZoned Flooring CarpetCeramic TileRecycled/Composite Flooring Heating CentralElectricZoned Levels One Numof Restrooms 6 Sewer Public Sewer Stories Total 1

    Property Features

    Additional Parcels Yn No Business Type Professional/Office Condo Environment Yn No Converted Residence Yn No Disclosures Lead PaintSeller Property Disclosure Electric 110 Volts220 VoltsSeparate Meters Flood Zone Code X Listing Terms CashConventional Net Operating Income 41700 New Construction Yn No Property Sub Type Office Realtor Info See Attachments Security Features Security System Special Listing Conditions None Tax Annual Amount 5105.15 Tax Year 2019 Total Num Buildings 1 Use Code C-1 Utilities Bb/Hs Internet CapableElectricity AvailablePublic Zoning O-1C-1


    Listing information © 2020 My Florida Regional MLS DBA Stellar MLS..
    Listing provided courtesy of Coldwell Banker Realty.



    © 2020 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2020-07-10T22:40:06.123.
     
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