Homes for sale - 3545 RECKER HWY, Winter Haven, FL 33880

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KIRK & STACY WEINGARTEN

stacy.weingarten@joinreal.com +1(941) 432-4141

$1,500,000

Est. payment - /mo

15,090 SqFt

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UPDATED:

11/18/2024 10:45 PM

Key Details

Property Type Commercial

Sub Type Warehouse

Listing Status Active

Purchase Type For Sale

Square Footage 15,090 sqft

Price per Sqft $99

Subdivision Rh Bryson Sub

MLS Listing ID OM688892

Construction Status Completed

HOA Y/N No

Originating Board Stellar MLS

Year Built 1965

Annual Tax Amount $7,767

Lot Size 0.980 Acres

Acres 0.98

Lot Dimensions 215X200

Property Sub-Type Warehouse

Property Description

The property comprises 30 units across four concrete buildings, totaling 15,090 square feet on 0.98 acres of mixed-use Commercial/Industrial-zoned land. The site includes three retail units, 25 storage/shop space units of various sizes, a manager's apartment, and a single-family residence, offering flexibility for both long- and short-term rentals. Strategically located on Recker Highway in Winter Haven, FL, this property features 215 feet of road frontage, a daily traffic count of 17,200 AADT, and 29 parking spaces. Accessibility is further enhanced by two ingress and egress points, improving traffic flow and attractiveness for both tenants and customers. With current occupancy at 40%, this property presents significant potential for growth through increased occupancy and rental adjustments to market rates. Financial data for 2023 reflects an Effective Gross Income (EGI) of $141,273 at a 6.1% cap rate, with trailing 2024 projections indicating an EGI of $151,773 at a 6.39 % cap rate. Anticipated improvements could potentially increase the cap rate to 11.62% at 100% occupancy, thereby enhancing return on investment. Located within the expanding Lakeland-Winter Haven MSA—a key logistics hub in Florida with a population of approximately 819,000 and an annual growth rate of 3.24%—this property benefits from excellent access to major transportation routes, including the 570 Toll Road, US Hwy 92, Hwy 27, and Hwy 60. Situated just 12 miles west of Lakeland, it enjoys close proximity to key commercial centers, which further enhances its appeal for prospective tenants. This property is positioned as a promising, growth-oriented investment. With month-to-month leases currently in place, a new owner has the flexibility to increase occupancy, stabilize rents, and optimize cash flow. This adaptability enables the realization of the property's potential for a higher cap rate and substantial income growth, making it a compelling opportunity in the Lakeland-Winter Haven market.

Location

State FL

County Polk

Community Rh Bryson Sub

Zoning C

Interior

Cooling Central Air

Flooring Concrete

Exterior

Parking Features Parking Spaces - 19 to 30

Utilities Available Public

Roof Type Metal,Shingle

Building

Story 1

Foundation Slab

Lot Size Range 1/2 to less than 1

Sewer Public Sewer

Water Public

Structure Type Block,Brick

New Construction false

Construction Status Completed

Others

Ownership Corporation

Acceptable Financing Cash, Trade

Listing Terms Cash, Trade

Special Listing Condition None

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Listed by CENTURY 21 J.W.MORTON R.E.

3545 RECKER HWY Winter Haven, FL 33880