Fully Restored Multi-Tenant Retail Investment | 315 E Summerlin St
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Fully Restored Multi-Tenant Retail Investment 315 E Summerlin St
11,472 SF 100% Leased Retail Building Bartow, FL 33830 $1,295,000 ($113/SF) 7.71% Cap Rate
Investment Highlights
- Two Free-Standing Buildings
- 100% Occupied
- 12,702 Gross Square Feet
- Fully Refurbished 2020
- Owner Lease-back 50% of Property
- Development Acreage (.19 AC) is to be Sold Separately.
Executive Summary
KW Commercial is pleased to offer for sale a fully leased historic commercial-retail, property in downtown Bartow, Florida. The free-standing property consists of a single parcel at the southeast corner of East Summerlin and South Wilson Avenue totaling .23 (+/-) acres. The property has been stylishly refurbished and is presently fully occupied by operating businesses. Two suites are used for retail purposes. Two additional suites are fully equipped restaurants sharing a common kitchen. One of the restaurant suites includes a 1,500 SF outdoor patio with canopy. The sale includes a 10 Year Sale-Leaseback agreement with the current owner, who operates the two restaurants. The second story of the two-story building is leased as a studio/office. The parcel is presently designated as Mixed-use, Commercial which allows for a broad range of commercial uses including retail/office or conversion to a mixed-use development. The adjacent 10,000 SF paved parking/development area is to be sold separately. The Future Land Use for the property is Commercial. Additional value-add opportunities and features. Please call broker for details.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$124,740
|
$10.87
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$124,740
|
$10.87
|
| Taxes |
$10,550
|
$0.92
|
| Operating Expenses |
$14,400
|
$1.26
|
| Total Expenses |
$24,950
|
$2.17
|
| Net Operating Income |
$99,790
|
$8.70
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $124,740 |
| Annual Per SF | $10.87 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $124,740 |
| Annual Per SF | $10.87 |
| Taxes | |
|---|---|
| Annual | $10,550 |
| Annual Per SF | $0.92 |
| Operating Expenses | |
|---|---|
| Annual | $14,400 |
| Annual Per SF | $1.26 |
| Total Expenses | |
|---|---|
| Annual | $24,950 |
| Annual Per SF | $2.17 |
| Net Operating Income | |
|---|---|
| Annual | $99,790 |
| Annual Per SF | $8.70 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,472 SF
Building Class
C
Year Built
1920
Price
$1,295,000
Price Per SF
$113
Cap Rate
7.71%
NOI
$99,785
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.59
Land Acres
0.45 AC
Zoning
C - Commercial
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 25-30-05-375000-002012 | Total Assessment | $229,898 (2023) |
| Land Assessment | $0 (2023) | Annual Taxes | $10,550 ($0.92/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
25-30-05-375000-002012
Land Assessment
$0 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$229,898 (2023)
Annual Taxes
$10,550 ($0.92/SF)
Tax Year
2024
-
Mark Arnold -
KW Commercial - Orlando Central
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Fully Restored Multi-Tenant Retail Investment | 315 E Summerlin St
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