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3545 Recker HIGHWAY, Winter Haven, FL, 33880 | $1,500,000
The property comprises 30 units across four concrete buildings, totaling 15, 090 square feet on 0. 98 acres of mixed-use Commercial/Industrial-zoned land. The site includes three retail units, 25 storage/shop space units of various sizes, a manager’s apartment, and a single-family residence, offering flexibility for both long- and short-term rentals. Strategically located on Recker Highway in Winter Haven, FL, this property features 215 feet of road frontage, a daily traffic count of 17, 200 AADT, and 29 parking spaces. Accessibility is further enhanced by two ingress and egress points, improving traffic flow and attractiveness for both tenants and customers. With current occupancy at 40%, this property presents significant potential for growth through increased occupancy and rental adjustments to market rates. Financial data for 2023 reflects an Effective Gross Income (EGI) of $141, 273 at a 6. 1% cap rate, with trailing 2024 projections indicating an EGI of $151, 773 at a 6. 39 % cap rate. Anticipated improvements could potentially increase the cap rate to 11. 62% at 100% occupancy, thereby enhancing return on investment. Located within the expanding Lakeland-Winter Haven MSA—a key logistics hub in Florida with a population of approximately 819, 000 and an annual growth rate of 3. 24%—this property benefits from excellent access to major transportation routes, including the 570 Toll Road, US Hwy 92, Hwy 27, and Hwy 60. Situated just 12 miles west of Lakeland, it enjoys close proximity to key commercial centers, which further enhances its appeal for prospective tenants. This property is positioned as a promising, growth-oriented investment. With month-to-month leases currently in place, a new owner has the flexibility to increase occupancy, stabilize rents, and optimize cash flow. This adaptability enables the realization of the property's potential for a higher cap rate and substantial income growth, making it a compelling opportunity in the Lakeland-Winter Haven market.
Features
- Property Type: Warehouse
- Construction: Block, Brick
- Utilities: Public
- Garage: 19 to 30 Spaces
- Levels: 1
- Cooling: Central Air
- Units: 30
- Lot Size: 215 x 200
- Year Built: 1965
- Approx Sq. Feet: 15,090
- Acreage: 0.98
- Est. Taxes: $7,767
- MLS#: OM688892
- Days on Market: 12 days
- Website: https://www.raveis.com
/prop/OM688892/3545reckerhighway_winterhaven_fl?source=qrflyer
Listing courtesy of CENTURY 21 J.W.MORTON R.E. Phone: 352-726-6668
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
3545 Recker HIGHWAY, Winter Haven, FL, 33880
$1,500,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,200,000 | $1,200,000 | $1,200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.620% | 6.735% | 6.806% |
| Monthly Tax Payment | $647 | $647 | $647 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,783 | $7,684 | $10,536 |
| Total Monthly Payment | $8,555 | $8,456 | $11,308 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388