Property Attributes
- MLS#O6198044
- TypeCommercial
- CountyLAKE
- CityTAVARES
- AreaTavares - Deer Island
- NeighborhoodTavares Tavares Commons
- Zip32778
- StyleRetail
- Year Built2023
- Taxes$ 11962
- Price$ 2,579,333
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage1730
- Lot Size1.24 Acres
Data Source:
Stellar MLS
Property Description
Passive investment opportunity with huge tax benefits. Purchaser has the ability to write off 60% in year 1 with accelerated depreciation . The property is occupied by Strickland Brothers who is rapidly expanding with the goal to reach 200 by 2024. Strategic investment by Princeton equity during 2021 is propelling expansion efforts. Approx 15 years remain on the lease with 10% escalations every 5 years. The tenant has 3 (5yr) options they can exercise after the initial term. Current annual in place NOI $154,760 , passive income collected every month providing the purchaser with a 6% yield (CAP). No landlord responsibilities. Absolute NNN deal . Flyer = https://elkpenn.com/properties/Burleigh/Burleigh%20Blvd.pdf
Price History | |
---|---|
4/20/2024 | Listed $2,579,333 |
General Features
Cooling | A/C - Office Only |
---|---|
Zoning | C-2 |
Construction Materials | Block |
Year Built | 2023 |
Levels | One |
Property SubType | Retail |
Tax Year | 2023 |
Percent Ownership | Other |
County | Lake |
New Construction | Yes |
Property Type | Commercial Sale |
Subdivision Name | TAVARES TAVARES COMMONS |
Status | Active |
Directions | In between leesburg and Mt.Dora. |
City | TAVARES |
Buyer Agent Compensation | 2% |
MLS Area | 32778 - Tavares / Deer Island |
Lot Size Square Feet | 54189 |
Waterfront Y/N | No |
Street Name | Burleigh |
Listing Terms | Other |
Tax Annual Amount | 11962.9 |
Property Condition | Completed |
Public Remarks | Passive investment opportunity with huge tax benefits. Purchaser has the ability to write off 60% in year 1 with accelerated depreciation . The property is occupied by Strickland Brothers who is ra |
Virtual Tour | https://www.propertypanorama.com/instaview/stellar/O6198044 |
Days on Market | 3 |
Standard Status | Active |
Tax Lot | PG 1727 |
Virtual Tour | https://www.elkpenn.com/properties/Burleigh/Burleigh%20Blvd.pdf |
Legal Description | TAVARES COMMONS PB 62 PG 92-93 PARCEL 1 ORB 6014 PG 1727 |
Interior Features
Air Conditioning Y/N | Yes |
---|---|
Street Suffix | BOULEVARD |
Living Area Units | Square Feet |
Exterior Features
Lot Size Area | 1.244 |
---|---|
Foundation Details | Concrete Perimeter |
Number of Buildings | 1 |
Building Area Total | 1730 |
Lot Size Acres | 1.24 |
Road Surface Type | Asphalt |
Lot Size Units | Acres |
Road Frontage Type | Access Road |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool