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16905 HWY 27 LAKE WALES, FL 33859
- Commercial / Resale (MLS)
Property Details for 16905 HWY 27, LAKE WALES, FL 33859
Features
- Price/sqft: $176
- Lot Size: 2.33 acres
- Total Units: 1
- Stories: 1
- Roof Type: Tile
- Heating: Central Furnace
- Construction Type: Masonry
- Exterior Walls: Stucco
Facts
- Year Built: 01/01/1954
- Property ID: 907088643
- MLS Number: L4946852
- Parcel Number: 27-30-14-000000-042090
- Property Type: Commercial
- County: Polk
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. Prime Income-Producing Property with tremendous Growth Potential in Lake Wales, Florida. Seize this extremely rare opportunity to invest in a commercially zoned BP property within the city limits of Lake Wales, Floridaa city on the brink of significant growth. This income-producing asset boasts 9 fully leased hotel units, a 3-bedroom Inn keepers' home, and a commercial restaurant with banquet hall. In addition, there are two efficiency units to be completed and also, the possibility to rebuild 10 rooms that were demolished after a fire. All this will significantly increase income potential. The property offers a fully functional commercial kitchen, with an oversized dining room/banquet hall and fully equipped bar as well. The space is perfect for a restaurant, banquet hall, or event space. The kitchen has operated as a successful Jamaican restaurant for three years and was recently closed by the owner, due to prevailing family issues. (kitchen equipment to be negotiated upon sale of the property). With all its features, the property's' income potential is incredibly enhanced and provides a versatile venue for a variety of business ventures. Situated on a spacious 2.33-acre parcel, this property not only generates immediate revenue but also presents a golden opportunity for future expansion of the Highway 27 corridor. Given the predicted growth trajectory of Lake Wales, this land is perfectly poised for the development of a future hotel, tapping into the increasing demand for hospitality services in the area. Position your investment for the future in one of Central Floridas emerging markets. All leases on the property are month to month. Seller is diligently working on leasing the remaining units & restaurant & lounge, to get the property operating at full income potential. 11 hotel rooms, 1 single family home, and commercial restaurant total to be rented. Call today for details and your private showing.
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Property Brokerage:
Coldwell Banker Real Estate Winter Haven
290 Cypress Gardens Blvd, SE
Winter Haven
FL
33880
Copyright © 2024 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.