Prime Income-Producing Property with tremendous Growth Potential in Lake Wales, Florida. Seize this extremely rare opportunity to invest in a commercially zoned BP property within the city limits of Lake Wales, Florida—a city on the brink of significant growth. This income-producing asset boasts 9 fully leased hotel units, a 3-bedroom Inn keepers’ home, and a commercial restaurant with banquet hall. In addition, there are two efficiency units to be completed and also, the possibility to rebuild 10 rooms that were demolished after a fire. All this will significantly increase income potential. The property offers a fully functional commercial kitchen, with an oversized dining room/banquet hall and fully equipped bar as well. The space is perfect for a restaurant, banquet hall, or event space. The kitchen has operated as a successful Jamaican restaurant for three years and was recently closed by the owner, due to prevailing family issues. (kitchen equipment to be negotiated upon sale of the property). With all its features, the property’s’ income potential is incredibly enhanced and provides a versatile venue for a variety of business ventures. Situated on a spacious 2.33-acre parcel, this property not only generates immediate revenue but also presents a golden opportunity for future expansion of the Highway 27 corridor. Given the predicted growth trajectory of Lake Wales, this land is perfectly poised for the development of a future hotel, tapping into the increasing demand for hospitality services in the area. Position your investment for the future in one of Central Florida’s emerging markets. All leases on the property are month to month. Seller is diligently working on leasing the remaining units & restaurant & lounge, to get the property operating at full income potential. 11 hotel rooms, 1 single family home, and commercial restaurant total to be rented. Call today for details and your private showing.
Property Details
Price:
$1,500,000
MLS #:
L4946852
Status:
Active
Beds:
0
Baths:
0
Address:
16905 HWY 27
Type:
Commercial
Subtype:
Hotel/Motel
City:
LAKE WALES
Listed Date:
Aug 12, 2024
State:
FL
Finished Sq Ft:
8,500
ZIP:
33859
Lot Size:
101,556 sqft / 2.33 acres (approx)
Year Built:
1954
Schools
Interior
Cooling
A/ C – Office Only, Wall/ Window Unit(s)
Heating
Central
Exterior
Construction Materials
Block
Roof
Shingle, Tile
Financial
Tax Year
2023
Taxes
$4,632
Map
Community
- Address16905 HWY 27 LAKE WALES FL
- CityLAKE WALES
- CountyPolk
- Zip Code33859
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Courtesy of COLDWELL BANKER REALTY. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Stellar MLS. Detailed information about real estate listings held by brokerage firms other than CENTURY 21 Carioti include the name of the listing broker. Neither the listing company nor CENTURY 21 Carioti shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Stellar MLS. All rights reserved.
16905 HWY 27
LAKE WALES, FL
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