This is a rare small bay warehouse property in the high growth market of Winter Haven, Polk County, which sits directly between Tampa Bay and Orlando. The Property consists of two (2) buildings of 5,680 SF and 3,540 SF respectively on .59 acres of land. Property zoned BPC-2 Business Park, Polk County. The buildings are of steel construction on concrete slab and constructed 1979. The Northeastern building of 5,680 SF is comprised of seven (7), approximate 800 SF bays that are approximately 20’ wide and 40’ deep, each with one front load 10’ by 10’ grade level garage door. The Southwestern building of 3,540 SF (fronting Commercial Blvd) is comprised of five (5), approximate 600 SF bay that are approximately 20’ wide by 30’ deep, each with one front load 10’ by 10’ grade level garage door. Both buildings have metal roofs (with no skylights), the roofs were coated in 2014 with a thick, durable fiberglass coating (see aerial). Both roofs have been fortified around the entire perimeter edges of each roof by an additional roof screw every 12”, greatly increasing wind damage resistance. There is one (1) common area bathroom that services the entire complex. In the past 18 months a new entryway concrete driveway and dumpster pad was installed as well as an updated breaker box and electrical wiring work. There is a fenced area in front along the road that can be used for outside storage, vehicle or equipment parking storage. There is one electric meter for entire complex, Landlord-owner pays for electricity and passes thru to tenants within the rent. Property is served with City of Auburndale Water and Septic tank. Electricity provided by Florida Progress. The buildings were primer coated AND top-coated painted in 2016, and then painted again with current colors in 2020.
The Property presents the ability for an owner-user to occupy as much of the project needed by terminating any amount of the month-to-month term leases (all current leases are month-to-month term), and continue to lease the remaining bays to tenants for income. Or, purchase the Property as consistent income producing asset, immediately increase rents to desired level, and continue to increase rents and property value as the local and regional market continues to grow and develop. THE EXISTING RENTS ARE AT LEAST 40% BELOW MARKET and can be raised with a 30 day notice to tenants (given all leases are on a month-to-month term).
Winter Haven is an excellent market to invest in. The Lakeland-Winter Haven Metropolitan Statistical Area, with nearly 750,000 residents, boasted the nation’s No. 2 MSA growth rate between 2019 and 2020, and has grown by approximately 19,000 residents over the last decade, with a 45-50% growth rate. Winter Haven had a 78% increase in residential housing building permits from 2018 to 2021.
