Address
1421 COMMERCIAL PARK DRIVE Lakeland, FL
Price
$ 475,000
Property Attributes
  • MLS#T3282038
  • TypeCommercial
  • CountyPOLK
  • CityLakeland
  • AreaLakeland
  • NeighborhoodCommercial Park South
  • Zip33801
  • StyleOffice
  • Year Built1973
  • Taxes5105
  • Price$ 475,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage5355
  • Lot Size0.38 Acres
Listing Provided Courtesy Of:
FUTURE HOME REALTY INC
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!

Price History
1/6/2021 Listed $475,000

General Features

Business Type Commercial, Professional/Office
Ceiling Height 8 to 9 Feet
Construction Materials Brick
Cooling Central Air, Zoned
Electric 100 Amp Service, 110 Volts, 220 Volts
Flooring Carpet, Linoleum
Heating Central Building, Zoned
Levels One
MLS Area 33801 - Lakeland
Parking Features 13 to 18 Spaces
Property SubType Office
Property Type Commercial
Roof Shingle
Sewer Public Sewer
Special Listing Conditions None
Status Active
Subdivision Name COMMERCIAL PARK SOUTH
Total Num Buildings 1
Township 28
Utilities Electricity Available, Phone Available
Year Built 1973
Zoning O-1

Interior Features

Living Area 5355.00
Numof Restrooms 6

Exterior Features

Building Area Total 5355.00
Foundation Details Slab
Lot Dimensions 111.4x130
Lot Size Acres 0.38
Lot Size Square Feet 16553
Road Frontage Type City Street

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 33801

Price
AVG $580K
$480K
Taxes
AVG $5,075
$5,105
Visits
AVG 100
5
Year Built
AVG 1957
1973
Walkscore
AVG 40
46
Data Provided by Walkscore ® not using MLS data

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