Building Size | 6,240 Square Feet |
Land Size | 0.48 Acres |
Zoning | C-2, City of Lake Wales |
Parking | 24 Spaces |
Water | Available |
Sewer | Available |
Electric | Available |
Year Built | 1987 |
Located in downtown Lake Wales, this well established retail strip plaza has been a staple of the area for almost 40 years. There are six total tenant spaces in the plaza, with a long term tenant using 2 spaces.
All tenants have active leases, with most expiring in November 2025. The landlord takes care of the main infrastructure of the plaza, and pays for the property tax and hazard insurance. The tenants cover the water bill, landscaping, liability, business and contents insurance, plus all regular repairs, including electric, HVAC and plumbing.
Although the tenants, some long term (10+) are stable, rents are currently underperforming. A huge upside exists with achieving market rents in the short term.
The structure itself has excellent features - it is a concrete block, with a slab foundation and has a flat roof. Each tenant has a dedicated HVAC unit, and there are six electrical meters. There are 24 parking spaces in the plaza, and additional employee spots in the rear.
For more information please visit: SVN Saunders Ralston Dantzler
The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.