708 US 27 S 9,734 SF 100% Leased Industrial Building Lake Placid, FL 33852 $1,137,617 CAD ($116.87 CAD/SF) 10.28% Cap Rate

This is an excellent opportunity to purchase income producing property in Lake Placid, Florida. The subject 34,298 ft.² site is improved with 4 structures with 21 parking spaces in the front and additional parking in the back:
- 1 retail storefront (built 1979) facing major highway (US-27) and
- 3 buildings (built 1987) rented as warehouse storage units.
Property is zoned C-1 (highway commercial with a future land use designation of commercial general)
The subject site is 93 feet of frontage on parallel to US 27 and 93 feet of frontage on Wyrick Road which provides access at the rear.
The retail building to the east that faces the frontage road to US 27 contains 4,650 square-foot is currently occupied by single tenant. Originally set up as 5-unit building it was later divided into three rental units.

All of them are occupied. Unit 714 Is rented to Caribbean Restaurant , 712 is rented to the Boxing studio and Units 708-710 are rented to Arcade store. Total Monthly rent is $4,652.30 (Plus sales tax). Retail units are fully occupied. Tenants pay for water/garbage and electricity.
There are 3 STORAGE buildings located on the west portion of the property the front Wyrick Road are designed as warehouse storage rentals. These buildings are built in 1987 building A and C are identical, contain 1,200 ft.² each (2,400 ft.² total), divided into TEN (10) 10’ by 12‘units each (20 units total). The building B is 2,600 ft.², divided into 10(ten), 13 x 20‘units.
Small units are rented for $115 per month and bigger units for $145 per month (including tax). Total for storage units at the prices above is $3,750.00(including sales tax) per month.
Property is secured by 146 linear feet of 6-foot-high chain-link fence in the rear access gate, and central Water/sewer is provided by town of Lake Placid.