Highlights

• Zoning: Split; MF-22 & C-2
• ADJACENT TO CENTRAL FLORIDA EUROCAR DEALERSHIOP - NEW Mercedes, BMW, Volvo...
• Utilities: Public Water/Sewer

• Rentals: 38; Apts, Home, MHs & Cottages
• Taxes: $6,750 MOL (2005) ; One Property off Corner of US-92 & US-98
• Special: Hi-Vis Development Site Retail or Ofc/Multi-Fam

Description

Hi-Vis Steady Income Producing MHP/ Redevelopment parcel in Lakeland. 150' fronting busy US Hwy 98 (N. Lake Parker Ave) by 375' in depth. Currently a 38 unit (9 apartments, 3 cottages, 25 mobiles & a 1,200 sf home) family rental situation sitting on 1.63 acres of land on US HWY 98 less than one block to Main St (US-92) intersection and adjacent, but separated by Lemon St. to the S., to Central Florida Eurocars (a Mercedes/ VW/ Volvo/ Jaguar dealership). Park operates w/ less than market rents to stay full and is running 60% expenses (high) which make this absentee situation another huge upside for someone with a local flair, or continue to keep absentee and keep status quo. To the N is a trophy shop (corner) and adjacent to that is Avis. Immediately across US-98 is an rv sales and service facility w/ more national names to the N and S. The existing structures total over 12,000 sf and are served by municipal water & sewer; 90+% of the electric is separately metered and only a few trailers share connections; the home was built in 1938 and the cottages/ apts in 1947 we believe. All units are park owned and managed onsite by 10+ year veteran manager for this park.

Manager is willing to stay or move on w/ existing owners to another park at buyers discretion. Lakeland is ranked 137 among Best Places For Business in 2006; Ranked 13th for Job Growth, 97th for Income Growth; 20th for Net Migration; OVERALL 137th in the country! Owners are mobile home corporation w/ considerable assets in Florida, but moving assets more towards N. Florida/ Georgia. They also purchased a 22,500 sf industrial warehouse nearby at 2228-2240 Peachtree (1.11 acres) to use as a headquarters/ supply center hub for their operations to facilitate many of their parks. As 15 parks in central/ S. Florida have been sold in last 12+ months, this Peachtree location is no longer needed and also available for sale for $998,000 (ONLY $44/SF!). It has been divided and rented in 1,750 sf bays; some double, and has a 3,500sf bay plus 1,400 sf office up front left vacant for owner/ user which can also be rented in the event an investor wished to pick up both of these at once; also a discount would be considered for both! Convenient to both US-92 and Hwy-98 w/ an easy commute to Plant City, Tampa, Orlando or almost anywhere in Central Florida via I-4 or the interstates.