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 (January 2025 restaurant is currently rented month to month). Call today for details and your private showing.
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 (January 2025 restaurant is currently rented month to month). Call today for details and your private showing.
Features
Building and Construction
Covered Spaces: 0.00
Living Area: 8500.00
Roof: Shingle, Tile
Property Information
Property Condition: Completed
Garage and Parking
Garage Spaces: 0.00
Open Parking Spaces: 0.00
Utilities
Carport Spaces: 0.00
Cooling: Office Only, Wall/Window Unit(s)
Heating: Central
Road Frontage Type: Divided Highway
Finance and Tax Information
Home Owners Association Fee: 0.00
Insurance Expense: 0.00
Net Operating Income: 182000.00
Other Expense: 0.00
Tax Year: 2023
Other Features
Country: US
Legal Description: S1/2 OF SE1/4 OF SE1/4 OF SW1/4 LYING E OF HWY LESS R/W FOR US 27
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