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770 BIG TREE DR Longwood, FL 32750
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Key Details
Sold Price $460,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 8,150 sqft
Price per Sqft $56
MLS Listing ID O5548783
Sold Date 01/20/19
HOA Y/N No
Year Built 1984
Annual Tax Amount $3,898
Lot Size 0.610 Acres
Acres 0.61
Property Description
Amazing opportunity to buy commercial real estate in prime Longwood at a current 7.5% cap rate. The property sits on 0.6 acres in the heart of Longwood's commerce park and has approximately 25 parking spaces. Property consists of eight 1,000 sq ft units - all leased to different tenants. Very close to major highways, restaurants & shopping centers. Most units have been tenanted since 2012 at 6$/ft MG. The expenses and maintenance are low and simply re-leasing at market rates would bump this to a 9% cap with ease. A great return whenever you decide to sell.
Value Add, Check. Multi-tenant, Check. Long-Term Tenants, Check. Low Price per Foot, Check. Solid Current Cap Rate, Check.
This is an excellent investment opportunity.
Location
State FL
County Seminole
Zoning M-1
Interior
Heating Central
Cooling Central Air
Flooring Laminate
Exterior
Garage 19 to 30 Spaces
Utilities Available BB/HS Internet Capable
Waterfront false
Roof Type Shingle
Parking Type 19 to 30 Spaces
Building
Lot Description Central Business District, City Limits, Near Public Transit
Lot Size Range 1/2 Acre to 1 Acre
Water Public
Structure Type Block
New Construction false
Others
Ownership Corporation
Special Listing Condition None
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Bought with ADVANTA REALTY LLC
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