Commercial Sale Property - Retail in Tavares
Listing Price: $2,579,330
Description of Property
Passive investment opportunity with huge tax benefits. Purchaser has the ability to write off 60% in year 1 with accelerated depreciation . The property is occupied by Strickland Brothers who is rapidly expanding with the goal to reach 200 by 2024. Strategic investment by Princeton equity during 2021 is propelling expansion efforts. Approx 15 years remain on the lease with 10% escalations every 5 years. The tenant has 3 (5yr) options they can exercise after the initial term. Current annual in place NOI $154,760 , passive income collected every month providing the purchaser with a 6% yield (CAP). No landlord responsibilities. Absolute NNN deal . Flyer = https://elkpenn.com/properties/Burleigh/Burleigh%20Blvd.pdf
Property Details At A Glance
Property Type: Commercial Sale
Property Use or Sub Type: Retail
City: Tavares
County: Lake
Subdivision: Tavares Tavares Commons
Sq. Ft. Gross: 1,730
Year built: 2023
Annual Tax: $11,963
Taxes and fees can change periodically, and other fees may apply. Please check with your Realtor for more details.
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Water Access: Not specified
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Exterior & Construction
Architectural Style:
Construction: Block
Foundation: Concrete Perimeter
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Floors in Unit: One
Cooling: A/C - Office Only
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Lot Information
Lot Features:
Lot Size (acres): 1.24
Lot Size (sq. ft.): 54,189 square feet
Road Frontage: Access Road
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Legal Description & Other Information
Financing Available: Other
Parcel Number: 211926001000000100
Zoning: C-2
New Construction: Yes
Tax Legal Desc.: TAVARES COMMONS PB 62 PG 92-93 PARCEL 1 ORB 6014 PG 1727
Listing courtesy of ELKPENN INC. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.