16905 Hwy 27
Lake Wales,
FL
33859
Property Details
| List Price: |
$1,500,000 |
| Beds: |
-- |
| Baths: |
-- |
| Status: |
Active |
SqFt: |
8500 Square Feet |
| Agency: |
COLDWELL BANKER REALTY |
| Agency Phone: |
(863) 294-7541 |
Description/Comments
| Lot Size: |
2 acre(s) |
| Property Type: |
Commercial Sale-Other |
| Year Built: |
1954 |
| Notes: |
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, Florida—a 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 Florida’s 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. |
| MlsNumber: |
-- |
| ListingId: |
L4946852 |
Estimate Your Monthly Payment
| Listing Provided By: |
COLDWELL BANKER REALTY, original listing |
| Phone: |
(863) 294-7541 |
| Office Phone: |
(863) 294-7541 |
| Agent Name: |
Brandy Duncan |
| Disclaimer: |
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. |
