Property Listing No Longer Available for Sale

1421 Commercial Park Drive

Lakeland, FL

Office for Sale - $499,000 - 4,575 Sq. Ft. on 0.38 acres


Property Info

CIMLS#1072082
Location
  1421 Commercial Park Drive
  Lakeland FL 33801
UpdatedApril 30th, 2020
TypeOffice
Price$499,000
Building4,575 Sq. Ft.
Land0.38 acres

Property Description

Commercial building with six suites currently divided into four units with some long term leases. Currently two remodeled suites are being used by owner but are available for lease at $11 PSF Mod Gross. Billboard income of $775 per month included with the sale. Currently running at a 5% cap, but will get closer to an 8% cap once owner unit is leased. Suite 5 & 6 have been renovated with new laminate flooring, fixtures and refinished bathrooms. 5 A/C Units in total, 2 are newer. Roof approx 10-12 years old. Excellent traffic counts along US 98, and plenty of common parking available at the building.


Financials