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3545 RECKER HIGHWAY

Commercial For Sale
$1,500,000

BTC: 16.98754247

ETH: 486.45861372

7 days
0 room(s)
15,090 sqft
Est. Estimated sales range: $0 - $0
$0

Overview

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

Florida • WINTER HAVEN • 33880 • Commercial • For Sale

Facts and features

Type:
Commercial Sale
Parking:
19 to 30 Spaces
Year Built:
1965
Lot:
0.98 Acres
Heating:
No Data
Price/sqft:
$99
Cooling:
Central Air
HOA:
No Data
All facts and features

  • Flooring

    • Concrete

    Cooling

    • Central Air

  • Parking

    • 19 to 30 Spaces

    Lot

    • Lot: 0.98 Acres

    Other Property Information

    • Parcel Number: 252825000000032010

    • Zoning: C

  • Type and style

    • Property Type: Commercial Sale

    • Property Sub Type: Warehouse

  • Utility

    • Public

  • Other financial information

    • Annual tax amount: $7,767

  • Source details

    • MLS ID: OM688892

    Other facts

    • Construction Materials: Block / Brick

    • Foundation Details: Slab

    • Living Area: 15090

    • Water Source: Public

    • Lot Size Dimensions: 215 x 200

    • Subdivision Name: RH BRYSON SUB

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The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: CENTURY 21 J.W.MORTON R.E.