- For Sale $950,000
- Property Type Retail - Strip
- Property Size 6,240 SF
- Units 6
- Lot Size 0.48 Acre
- Year Built 1987
- Date Updated Apr 9, 2024
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Attachments
Highlights
- 6,240 SF Retail Strip Center in downtown Lake Wales.
- Zoned C-2, City of Lake Wales
- Six total spaces in the strip center - five tenants with one tenant using two spaces.
- Leases are modified gross, with Landlord covering property taxes, hazard insurance and main infrastructure. Tenants cover utilities, landscaping and all repairs.
- Total current base rent - $65,463 + 5.5% tax. Proforma rents @ $15 PSF show income at $93,200 per year.
- All rents under market by $4-$5 per square foot.
- Landlord collects an additional $450 per month ($5,400 per year) for water and landscaping reimbursement.
- Two long term tenants with over 10+ years in the plaza.
- Six electrical meters, one water bill for the whole building.
- All leases available for review when under contract.
- Tenant @ 222 - Lease w/escalation expires 4/30/26
- Tenant @ 224 - Lease expires 11/30/25
- Tenant @ 226 - Lease expires 11/30/25
- Tenant @ 228 - Lease expires 11/30/25
- Tenant @ 230/232 - Lease expires 11/30/25
- 24 parking spaces in the main front lot, with additional room at the back of the property, which is accessed by a private alley.
- Property tax - $7.942
- Hazard Insurance - $5,500
False
Contacts
Craig Morby
SVN | Saunders Ralston Dantzler
(863) 581-0059
Location
Getting Around
-
Walk Score ®
Somewhat Walkable (69) -
Bike Score ®
Bikeable (54)
- City Lake Wales, FL
- Zip Code 33853
- Market Tampa St Petersburg Clearwater
Points of Interest
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Citgo
0.59 miles
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Sunoco
0.65 miles
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Murphy USA
2.19 miles
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Citgo
4.19 miles
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Wawa
4.42 miles
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Shell
4.55 miles
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Murphy USA
6.47 miles
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7-Eleven
7.02 miles
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Rightway Food
7.68 miles
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Shell
7.95 miles
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Crooked Lake Prairie Parking
6.66 miles
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Legoland Parking Lot
8.64 miles
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Lake Wales Family Restaurant
0.22 miles
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L'incontro Restaurant
0.23 miles
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Melanie's Seafood Company
0.27 miles
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Manny's Chop House
0.29 miles
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Burger King
0.34 miles
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Pizza Hut
0.37 miles
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McDonald's
0.55 miles
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Crazy Fish Bar & Grill
0.73 miles
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KFC
0.92 miles
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City Star Family Restaurant
0.94 miles
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Publix
0.42 miles
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Save-A-Lot
0.91 miles
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Walmart Supercenter
2.29 miles
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Eagle Ridge Mall
4.13 miles
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Aldi
4.46 miles
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Publix
4.55 miles
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Walmart Supercenter
6.49 miles
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CVS Pharmacy
7.07 miles
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Publix
8.48 miles
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Bealls
8.62 miles
Contact Listing Broker
Craig Morby
SVN | Saunders Ralston Dantzler
(863) 581-0059