$3,900,000
$4,000,000
2.5%For more information regarding the value of a property, please contact us for a free consultation.
27,745 SqFt
SOLD DATE : 02/23/2024
Key Details
Sold Price $3,900,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 27,745 sqft
Price per Sqft $140
Subdivision Clear Lake Views
MLS Listing ID O6156034
Sold Date 02/23/24
HOA Y/N No
Originating Board Stellar MLS
Year Built 1996
Annual Tax Amount $3,266
Lot Size 4.270 Acres
Acres 4.27
Property Description
We are pleased to present Kaley Square, a mixture of 32 commercial/residential units on 12 lots totaling 4.27 acres. The prospective income upon increasing rents is estimated at $500,000 and the seller will consider seller financing. The property has been over 90% occupied for decades and has long term tenants spanning back to the 90's. This investment offers a prospective 10%+ cap with the opportunity to redevelop the site and own nearly an entire city block. Communication with the county shed light on the option to change the zoning and FLU to Neighborhood Commercial and increase value in the site for future redevelopment. This property is truly one of a kind.
Location
State FL
County Orange
Community Clear Lake Views
Zoning C-3 & R-2
Interior
Cooling Central Air, Other, Wall/Window Unit(s)
Exterior
Roof Type Built-Up
Building
Foundation Crawlspace, Other, Slab
Lot Size Range 2 to less than 5
Structure Type Block,Metal Frame,Other,Wood Siding
New Construction false
Others
Ownership Partnership
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with OLDE TOWN BROKERS INC