This is a rare, highly desirable 18,000 SF small bay industrial commercial property for sale in the high growth market of Lake Wales, Polk County. The Property consists of two (2) buildings of 12,000 SF and 6,000 SF respectively on 1.69 acres of land. The buildings are currently 100% occupied with waiting list. The Property is zoned LCI – Limited Commercial Industrial, City of Lake Wales. The buildings are of steel construction on concrete slab and built in 2006. Building 1, on the west side of of the property fronting Scenic Highway 17, is 12,000 SF and is currently comprised of eight (8) demised tenant spaces, 100% occupied. Five (5) of these spaces are office / retail use that face Scenic Hwy 17, are 100% air-conditioned, are 800 SF each (20’ wide and 40’ deep), with a man door entry only for three of the spaces, and, the two end-cap spaces are serviced with a man door entry and a 10’ by 12’ garage door. The other three spaces in Building 1 are 2,000 SF, 3,000 SF, and 3,000 SF each respectively served with front load 10’ by 12’ grade level garage doors and man doors. Each space is separately metered, Building 1 is serviced with a 15 can electrical meter bank. Building 2 on the east side of the property is 6,000 SF and is currently comprised of four (4) demised spaces of 1,200, 1,200, 2,400, and 1200 SF respectively. These 1,200 SF bays being 20’ wide by 60’ deep, each bay served with one front load 10’ by 12’ grade level garage door and a man door. Each space is separately metered Building 2 is serviced with a 6 can electrical meter bank. Both buildings have metal roofs in excellent condition. All spaces are serviced with at least one bathroom. There are 36 striped parking places parking places, and IN ADDITION there is an approx. 30' wide by 130' grassy area behind Building 2 (see aerial) that can be used for outside storage or additional parking. Property is serviced with City of Lake Wales water, sewer, and storm drainage.
The Property could be purchased by an owner-user to occupy as much of the project needed by terminating any amount of the month-to-month term leases and continue to lease the remaining bays to tenants for income, or, purchased by an investor for consistent stable income, with ability to increase rents to desired level for all current month-to-month leases with 30 day notice to tenants, 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 75%+ BELOW MARKET. Lake Wales is an excellent market to enter into with explosive population growth occurring with more than 14,000 new residential units that are currently listed between conceptual and final plat stages within the city limits that is expected to double the population of Lake Wales within 2-3 years. This well built small bay complex has very little similar competition in Lake Wales, a great opportunity to own and control a quality, high in demand property.
