2965 New Tampa Hwy
Lakeland, FL 33815
13% CAP - CENT. LAKELAND MHP NEAR I-4 · Land For Sale
·
2.04 AC
Investment Highlights
- 16 OWNED MOBILE HOMES, 1 House, 1 Studio Apartment & 3 Retail Units -
- Current Income - $285,000, Current Expenses - $65,000. Cap Rate - 13.3%
- Good Location - Near I-4 and Polk Parkway.
- City Water and Sewer on site - Zoned I-1, City of Lakeland - LEGAL non confirming use
- Road Widening Project with DOT May Bring a Settlement Favorable to Buyer.
- Park is Owner Managed - Estimate 8% Fee for Third Party Management
Property Facts
| Property Type | Land | Total Lot Size | 2.04 AC |
| Property Subtype | Commercial | No. Stories | 1 |
| Proposed Use | Multifamily | ||
| Zoning | I-1 | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Multifamily |
| Total Lot Size | 2.04 AC |
| No. Stories | 1 |
| Zoning | I-1 |
Description
The property consists of 16 park-owned trailers, one (1) house, one (1) studio apt, and three (3) retail units. All tenants are month-to-month. The utilities consist of City water and City sewer. Tenants pay for their electricity with the exception of one (#10) who is billed a flat $150.00 per month for their electricity. Park is on city water and sewer. New Tampa Highway is planned to be widened at some point in the near future, and as such, a taking by the FDOT will occur. We anticipate that the next owner will enjoy a sizeable windfall from this event. The retail building at the front entrance is the only part of the property to be impacted. We believe that at that time, the front of the building will become the back and vice-versa, which would allow you the option of adding three more residential units to the property. The park is owner managed - add 8% for third party management.
Property Taxes
| Parcel Number | 23-28-22-095000-001050 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $786,045 |
Property Taxes
