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
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
Property Details
Price:
$2,579,333
MLS #:
O6198044
Status:
Active
Beds:
0
Baths:
0
Address:
610 E BURLEIGH BOULEVARD
Type:
Commercial
Subtype:
Retail
Subdivision:
TAVARES TAVARES COMMONS
City:
TAVARES
Listed Date:
Apr 20, 2024
State:
FL
Finished Sq Ft:
1,730
ZIP:
32778
Lot Size:
54,189 sqft / 1.24 acres (approx)
Year Built:
2023
Schools
Interior
Cooling
A/ C – Office Only
Exterior
Construction Materials
Block
Financial
Buyer Agent Compensation
2%%
Tax Year
2023
Taxes
$11,963
Map
Community
- Address610 E BURLEIGH BOULEVARD TAVARES FL
- CityTAVARES
- CountyLake
- Zip Code32778
Similar Listings Nearby
- 1515 US HIGHWAY 441
TAVARES, FL$2,500,000
1.41 miles away
- 495 W OLD US HIGHWAY 441
MOUNT DORA, FL$2,495,000
4.59 miles away
- 851 N DONNELLY ST
MOUNT DORA, FL$1,899,000
4.79 miles away
Courtesy of ELKPENN INC. 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. 610 E BURLEIGH BOULEVARD
TAVARES, FL
LIGHTBOX-IMAGES