This property has a HUGE VALUE ADD OPPORTUNITY due to mismanagement!
Retail units are producing a $1950 a month income and are being rented way under market rents!
This building and land are located right in the center of Wauchula's Business District and has 2 way Highway Frontage on Hwy 17! Due to the seller's health it has been mismanaged and has the potential to increase the NOI by at least $2000 a month! The 0.579 acres of land & 4,908 sq ft. building already in place is being offered for $250K but "ALL OFFERS WILL BE CONSIDERED"!!
The current property has an 40% value add with All store fronts leased way under current area rents and 6 storage units being used for personal storage by the owner. If rents are raised to $1,000 a month for each retail space and storage units are rented for $60 monthly, this property could produce an additional $1400 monthly! This would give this property a 13.4% cap rate if purchased for $250k and current cap rate is 7.8% at current rents! Also it's located in an opportunity zone so no Capital gains tax!