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1401 Resmondo Drive, Lake Wales, FL 33853
$1,350,000
1401 Resmondo Drive, Lake Wales, FL 33853View this property at 1401 Resmondo Drive, Lake Wales, FL 33853
1401 Resmondo DriveLake WalesFL33853
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Property Description
This is a rare, highly desirable 18,000 SF small bay industrial commercial property for sale in the high growth market of Lake Wales, Polk County. The Property consists of two (2) buildings of 12,000 SF and 6,000 SF respectively on 1.69 acres of land. The buildings are currently 100% occupied with waiting list. The Property is zoned LCI - Limited Commercial Industrial, City of Lake Wales. The buildings are of steel construction on concrete slab and built in 2006. Building 1, on the west side of of the property fronting Scenic Highway 17, is 12,000 SF and is currently comprised of eight (8) demised tenant spaces, 100% occupied. Five (5) of these spaces are office / retail use that face Scenic Hwy 17, are 100% air-conditioned, are 800 SF each (20' wide and 40' deep), with a man door entry only for three of the spaces, and, the two end-cap spaces are serviced with a man door entry and a 10' by 12' garage door. The other three spaces in Building 1 are 2,000 SF, 3,000 SF, and 3,000 SF each respectively served with front load 10' by 12' grade level garage doors and man doors. Each space is separately metered, Building 1 is serviced with a 15 can electrical meter bank. Building 2 on the east side of the property is 6,000 SF and is currently comprised of four (4) demised spaces of 1,200, 1,200, 2,400, and 1200 SF respectively. These 1,200 SF bays being 20' wide by 60' deep, each bay served with one front load 10' by 12' grade level garage door and a man door. Each space is separately metered Building 2 is serviced with a 6 can electrical meter bank. Both buildings have metal roofs in excellent condition. All spaces are serviced with at least one bathroom. There are 36 striped parking places parking places, and IN ADDITION there is an approx. 30' wide by 130' grassy area behind Building 2 (see aerial) that can be used for outside storage or additional parking. Property is serviced with City of Lake Wales water, sewer, and storm drainage. The Property could be purchased by an owner-user to occupy as much of the project needed by terminating any amount of the month-to-month term leases and continue to lease the remaining bays to tenants for income, or, purchased by an investor for consistent stable income, with ability to increase rents to desired level for all current month-to-month leases with 30 day notice to tenants, and, continue to increase rents and property value as the local and regional market continues to grow and develop. THE EXISTING RENTS ARE AT LEAST 75%+ BELOW MARKET. Lake Wales is an excellent market to enter into with explosive population growth occurring with more than 14,000 new residential units that are currently listed between conceptual and final plat stages within the city limits that is expected to double the population of Lake Wales within 2-3 years. This well built small bay complex has very little similar competition in Lake Wales, a great opportunity to own and control a quality, high in demand property.
Full Property Details
Full Property Details for 1401 Resmondo Dr
General
- Sold For: $1,350,000
- Taxes: $16,213 (2022)
- Status: Closed
- Type: Industrial
- MLS ID: P4926680
- Added to Site: 300 day(s) ago
Location
- Area: 33853 - Lake Wales South
- County: Polk
- Development Name: 33853 - Lake Wales South
- Subdivision: RESMONDO
- Driving Directions: From U.S. Highway 27, drive east on East Mountain Lake Cutoff Road .66 miles until you come to lighted intersection with Scenic Highway 17. Take a right on Scenic Hwy 17 and drive .43 miles, then take a left onto Resmondo Drive, drive 75 yards then take first left, then drive 135 yards to the end of cul-de-sac towards the left and enter the Property.
Community
- Community Name: 33853 - Lake Wales South
Heating & Cooling
- Cooling Type: A/C - Office Only
Structural Information
- # Buildings: 2
- Exterior Const.: Metal Frame, Metal Siding
- Square Feet: 1,800
- Living Area: 1,800 Sq. Ft.
- Year Built: 2006
Lot Features
- Lot Size (Acres): 1.69
- Lot Size (Sq. Ft.): 73,695
- Lot Size: 1.6918
- Frontage: State Road
- Street/Road Desc.: Asphalt
Financial Considerations
- Tax Amount: $16,213.28
- Tax Year: 2022
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Ownership: Corporation
- Special Conditions: None
- Legal Description: RESMONDO COMMERCIAL CENTER PB 132 PG 27 LOT 3
- Flood Zone Info: X
- APN: 272935880012000030
- Property ID: 272935880012000030
Listed and Sold by Beasley Real Estate Services
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Schools
Schools serving 1401 Resmondo Dr
School District:Polk County Public Schools
Rating | Name | Grades | Distance |
---|---|---|---|
321 Dr J A Wiltshire Ave E, Lake Wales, FL 33853 | PK-5 | 0.8 mi | |
800 4th St S, Lake Wales, FL 33853 | 6-9 | 2.3 mi | |
1270 S Broadway Ave, Bartow, FL 33830 | 9-12 | 15.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1401 Resmondo Dr
Date
Details
Price
Change
Source
2/06/2024
Sold
$1,350,000
-22.86%
MLS
8/16/2023
Price Reduced
$1,750,000
-11.62%
MLS
7/24/2023
Listed
$1,980,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1401 Resmondo Drive, Lake Wales, FL 33853 (MLS# P4926680) is a Industrial property that was sold at $1,350,000 on February 06, 2024. Want to learn more about 1401 Resmondo Drive? Do you have questions about finding other Industrial real estate for sale in Lake Wales? You can browse all Lake Wales real estate or contact a Coldwell Banker agent to request more information.