Wauchula, FL 33873,610 N 6TH
Wauchula, FL 33873,610 N 6TH
Wauchula, FL 33873,610 N 6TH
Wauchula, FL 33873,610 N 6TH
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$250,000

$250,000

Est.Price: ?

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Est. payment /mo

2,664 SqFt


SOLD DATE : 09/04/2019

Key Details

Sold Price $250,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

Square Footage 2,664 sqft

Price per Sqft $93

MLS Listing ID O5764407

Sold Date 09/04/19

Construction Status No Contingency

HOA Y/N No

Year Built 1981

Annual Tax Amount $4,920

Lot Size 0.610 Acres

Acres 0.61

Property Description

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!

Location

State FL

County Hardee

Interior

Cooling Central Air

Exterior

Utilities Available Public

Building

Lot Description Central Business District

Lot Size Range 1/2 Acre to 1 Acre

Sewer Public Sewer

Structure Type Block

New Construction false

Construction Status No Contingency

Others

Ownership Sole Proprietor

Special Listing Condition None

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Stellar MLS
Listed by COLDWELL BANKER RESIDENTIAL RE
Bought with COLDWELL BANKER RESIDENTIAL RE

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Kelly & Steve Christie

Agent | License ID: SL3269324

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