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3545 Recker Highway, Winter Haven, FL 33880
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  • MLS#: 838713 ( CommercialSale )
  • Street Address: 3545 Recker Highway
  • Viewed: 6
  • Price: $1,500,000
  • Price sqft: $99
  • Waterfront: No
  • Year Built: 1988
  • Bldg sqft: 15090
  • Days On Market: 45
  • Additional Information
  • County: POLK
  • City: Winter Haven
  • Zipcode: 33880
  • Subdivision: Not On List
  • Provided by: Century 21 J.W.Morton R.E.
  • REALTOR® Association of Citrus County
  • DMCA Notice
  • Description
    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 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.
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  •   Property Tax $
  •   Home Insurance $
  •   HOA Fees $
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Flooring: Concrete
  • Living Area: 0.00
  • Roof: Asphalt, Metal, Shingle
Land Information
  • Lot Features: Acreage, Flat, MultipleLots
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
  • Parking Features: ParkingSpaces
Eco-Communities
  • Water Source: Public
Utilities
  • Carport Spaces: 0.00
  • Cooling: CentralAir
  • Sewer: PublicSewer
Finance and Tax Information
  • Home Owners Association Fee: 0.00
  • Insurance Expense: 12100.00
  • Net Operating Income: 95879.00
  • Other Expense: 0.00
  • Pet Deposit: 0.00
  • Security Deposit: 0.00
  • Tax Year: 2024
  • Trash Expense: 0.00
Other Features
  • Current Use: MiniStorage, MixedUse, Warehouse
  • Levels: One
  • Area Major: 30
  • Occupant Type: Owner
  • Parcel Number: 25-28-25-000000-032010
  • Possession: Closing
  • The Range: 0.00
  • Zoning Code: C, IND
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  1. Tropic Shores Realty
  2. A Winning Team
  3. 352.684.7371
  4. tropicshoresrealty@gmail.com