3545 Recker Highway
Brokerage Office: 352-629-6883
3545 Recker Highway, WINTER HAVEN, FL 33880
Contact Pretty Penny Properties Inc
Schedule A Showing
Request More Information
- MLS#: OM688892 ( Commercial Sale )
- Street Address: 3545 Recker Highway
- Viewed: 6
- Price: $1,500,000
- Price sqft: $99
- Waterfront: No
- Year Built: 1965
- Bldg sqft: 15090
- Days On Market: 65
- Additional Information
- Geolocation: 28.0221 / -81.7701
- County: POLK
- City: WINTER HAVEN
- Zipcode: 33880
- Subdivision: Rh Bryson Sub
- Provided by: CENTURY 21 J.W.MORTON R.E.
- Contact: Elias Kirallah
- 352-726-6668
- DMCA Notice
-
DescriptionThe 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 managers 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 MSAa 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.
Property Location and Similar Properties
Property Features
Home Owners Association Fee
- 0.00
Carport Spaces
- 0.00
Close Date
- 0000-00-00
Cooling
- Central Air
Country
- US
Covered Spaces
- 0.00
Flooring
- Concrete
Garage Spaces
- 0.00
Legal Description
- COMM INT OF N LINE OF SE1/4 OF NW1/4 & N R/W SR 655 RUN SELY ALONG R/W 119.5 FT TO POB THENCE NELY AT A 90 DEG ANGLE 198.93 FT SELY PARALLEL TO N BNDRY SR 655 263.59 FT SWLY AT A 90 DEG ANGLE 199 FT TO R/W NWLY ALONG R/W 263.29 FT TO POB LESS W 50 FT THEREOF ABOVE DESC INCLUDES PT OF LOTS 15 & 16 OF BRYSONS R H SUB PB 4 PG 16 & BEG 751.64 FT E OF NW COR OF SE1/4 OF NW1/4 RUN SELY ALONG R/W 6.7 FT SWLY AT RT ANGLES 199 FT M/L TO SR R/W NWLY ALONG R/W 9 FT NELY 196.85 FT E 2.6 FT TO POB
Living Area
- 15090.00
Area Major
- 33880 - Winter Haven/Eloise/JPV/Wahnetta
Net Operating Income
- 95879.00
Parcel Number
- 25-28-25-000000-032010
Parking Features
- Parking Spaces - 19 to 30
Possession
- Negotiable
Property Condition
- Completed
Property Type
- Commercial Sale
Road Frontage Type
- Highway
Roof
- Metal
- Shingle
Sewer
- Public Sewer
Tax Year
- 2023
Township
- 28
Utilities
- Public
Virtual Tour Url
- https://app.cloudpano.com/tours/1hVVecU9G
Water Source
- Public
Year Built
- 1965
- Every PENNY matters, Get Your PENNY's Worth From Today's Real Estate Market