3545 Recker Highway, Winter Haven FL 33880

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$1,500,000

3545 Recker Highway, Winter Haven, FL 33880

bedrooms

bathrooms

square feet

Acreage

0.98

Open Houses

year built

1988

Full Baths

Half Baths

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The property comprises 30 units across four concrete buildings, totaling 15,090 square feet on 0.98 acres of mixed-use Commercial/Industrial-zoned land. The site includes three retail units, 25 storage/shop space units of various sizes, a manager’s apartment, and a single-family residence, offering flexibility for both long- and short-term rentals. Strategically located on Recker Highway in Winter Haven, FL, this property features 215 feet of road frontage, a daily traffic count of 17,200 AADT, and 29 parking spaces. Accessibility is further enhanced by two ingress and egress points, improving traffic flow and attractiveness for both tenants and customers. With current occupancy at 40%, this property presents significant potential for growth through increased occupancy and rental adjustments to market rates. Financial data for 2023 reflects an Effective Gross Income (EGI) of $141,273 at a 6.1% cap rate, with trailing 2024 projections indicating an EGI of $151,773 at a 6.39 % cap rate. Anticipated improvements could potentially increase the cap rate to 11.62% at 100% occupancy, thereby enhancing return on investment. Located within the expanding Lakeland-Winter Haven MSA—a key logistics hub in Florida with a population of approximately 819,000 and an annual growth rate of 3.24%—this property benefits from excellent access to major transportation routes, including the 570 Toll Road, US Hwy 92, Hwy 27, and Hwy 60. Situated just 12 miles west of Lakeland, it enjoys close proximity to key commercial centers, which further enhances its appeal for prospective tenants. This property is positioned as a promising, growth-oriented investment. With month-to-month leases currently in place, a new owner has the flexibility to increase occupancy, stabilize rents, and optimize cash flow. This adaptability enables the realization of the property's potential for a higher cap rate and substantial income growth, making it a compelling opportunity in the Lakeland-Winter Haven market.

Location
Subdivision	Not On List
County	Polk
Elementary School	-
Middle School	-
High School	-

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MLS number: 838713

Listing agent: Elias Kirallah #3123414

Listing broker: Century21 J.W. Morton Real Estate, Inc (352) 726-6668

Copyright © 2025 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Wednesday, January 15 2025 at 12:28 a.m. EST

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