Warehouse Units in Combee Rd, Lakeland, FL Pending

  • $399,900
  • 10 beds
  • 2 baths
  • 7,920 sqft

Don’t miss this rare, low-cost commercial opportunity that sits in a great location in beautiful Lakeland, Florida.  The warehouse-type property has nine office-flex spaces and small parcel being leased for ice machine rental. Each unit has its own window AC unit. There’s only one shared bathroom among all the units.  The units rent for substantially below market rent at $400 to $500 monthly, grossing around $4,300 with minimal monthly expenses and maintenance.  Similar commercial spaces are renting for $8-$12 per square foot, giving an investor a substantial value-add opportunity.  You can beat the competition at $9 per foot and generate $6000 monthly, yielding 13%.  Seller financing available with $175,000 down at 7% for 36 months.  The property has a history of minimal vacancy, usually with a waiting list of tenants.

Price:
$399,900
Address:
N. Combee Rd
Lakeland, FL 33801
Square Feet:
7,920
Bedrooms:
10
Bathrooms:
2
Terms:
For Sale
Property Type:
Multi-family
Year Built:
1978
Basement:
Flip: $29,000, Rent: $34,000
MLS #:
Flip: $550,000, Rent: $4,300 mo. / $51,600 yr.

Call (407) 678-0062 for more details

Property Location