- For Sale $950,000
- Property Type Retail - Strip
- Property Size 6,240 SF
- Units 6
- Lot Size 0.48 Acre
- Year Built 1987
- Date Updated Apr 23, 2024
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Attachments
Highlights
- 6,240 SF Retail Strip Center in downtown Lake Wales.
- Zoned C-2, City of Lake Wales
- Six total spaces in the strip center - five tenants with one tenant using two spaces.
- Leases are modified gross, with Landlord covering property taxes, hazard insurance and main infrastructure. Tenants cover utilities, landscaping and all repairs.
- Total current base rent - $65,463 + 5.5% tax. Proforma rents @ $15 PSF show income at $93,200 per year.
- All rents under market by $4-$5 per square foot.
- Landlord collects an additional $450 per month ($5,400 per year) for water and landscaping reimbursement.
- Two long term tenants with over 10+ years in the plaza.
- Six electrical meters, one water bill for the whole building.
- All leases available for review when under contract.
- Tenant @ 222 - Lease w/escalation expires 4/30/26
- Tenant @ 224 - Lease expires 11/30/25
- Tenant @ 226 - Lease expires 11/30/25
- Tenant @ 228 - Lease expires 11/30/25
- Tenant @ 230/232 - Lease expires 11/30/25
- 24 parking spaces in the main front lot, with additional room at the back of the property, which is accessed by a private alley.
- Property tax - $7.942
- Hazard Insurance - $5,500
False
Contacts
Location
Getting Around
-
Walk Score ®
69/100 Somewhat Walkable -
Bike Score ®
54/100 Bikeable
- City Lake Wales, FL
- Zip Code 33853
- Market Tampa St Petersburg Clearwater
Points of Interest
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Citgo
0.59 miles
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Sunoco
0.65 miles
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Murphy USA
2.19 miles
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Citgo
4.19 miles
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Wawa
4.42 miles
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Shell
4.55 miles
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Murphy USA
6.47 miles
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7-Eleven
7.02 miles
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Rightway Food
7.68 miles
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Shell
7.95 miles
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Crooked Lake Prairie Parking
6.66 miles
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Legoland Parking Lot
8.64 miles
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Lake Wales Family Restaurant
0.22 miles
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L'incontro Restaurant
0.23 miles
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Melanie's Seafood Company
0.27 miles
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Manny's Chop House
0.29 miles
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Burger King
0.34 miles
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Pizza Hut
0.37 miles
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McDonald's
0.55 miles
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Crazy Fish Bar & Grill
0.73 miles
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KFC
0.92 miles
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City Star Family Restaurant
0.94 miles
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Publix
0.42 miles
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Save-A-Lot
0.91 miles
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Walmart Supercenter
2.29 miles
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Eagle Ridge Mall
4.13 miles
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Aldi
4.46 miles
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Publix
4.55 miles
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Walmart Supercenter
6.49 miles
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CVS Pharmacy
7.07 miles
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Publix
8.48 miles
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Bealls
8.62 miles
Frequently Asked Questions
What is the lease rate for Lake Wales Downtown Retail Strip Center?
Rental asking rate at Lake Wales Downtown Retail Strip Center is $475,000.00/YR.
What is the total square footage of Lake Wales Downtown Retail Strip Center?
Lake Wales Downtown Retail Strip Center totals 6,240 square feet.
When was this property built?
Lake Wales Downtown Retail Strip Center was built in 1987.
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