offering memorandum (l) · 2019. 1. 21. · kw commercial 11 s bumby ave., suite 200 orlando, fl...
TRANSCRIPT
KW COMMERCIAL11 S Bumby Ave.,Suite 200Orlando, FL 32803
194 E Dr. JA Wiltshire Avenue
OFFERING MEMORANDUM
SUNNY GANDHISenior Associate0: 407.629.4420C: [email protected]
PRESENTED BY:
LAKE WALES, FL
OFFERING MEMORANDUM
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OFFERING MEMORANDUM
Confidentiality & DisclaimerLAKE WALES, FL
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness ,veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived,or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independentprofessionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KWCommercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does not serve as a financial advisor to any partyregarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that maybe provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with acertified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed byOrlando Central in compliance with all applicable fair housing and equal opportunity laws.
KW COMMERCIAL11 S Bumby Ave.,Suite 200Orlando, FL 32803
PRESENTED BY:
SUNNY GANDHISenior Associate0: 407.629.4420C: [email protected]
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors shouldconduct your own investigation of the property and transaction.
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OFFERING SUMMARY
SALE PRICE: $320,000
CAP RATE: 8.44%
NOI: $27,020
LOT SIZE: 0.26 Acres
YEAR BUILT: 1981
BUILDING SIZE: 3,800
ZONING:LCI - LimitedCommercial Industrial
PRICE / SF: $84.21
PROPERTY OVERVIEWThis is a fully leased multi unit limited commercial industrial property in the Polk County reemerging community of Lake Wales.The property is less than a mile North of Downtown Lake Wales on US 17 at the intersection of Dr. J.A Wiltshire and N ScenicHwy. It has approximately 135 FT frontage on J.A Wiltshire and about 81 FT on US 17.
Polk county south of I-4 is seeing explosive growth with using US 17 as major north south arterial thoroughfare. Lego land, BockTower, and old Florida charm bring visitors to the area in need of professional services. Recent area growth helps to assure asolid and growing service industry base to support the occupancy of this investment for the years to come.
PROPERTY HIGHLIGHTS• Fully Leased
• Significant local area development
Executive Summary
194 E DR. JA WILTSHIRE AVENUE |
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Additional Photos
194 E DR. JA WILTSHIRE AVENUE |
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INCOME SUMMARY 2018 FINANCIALS
Yearly Rent Collection Unit 1 $14,400
Yearly Rent Collection Unit 2 $14,579
Sales Tax Collected $2,028
Gross Income $31,008
EXPENSE SUMMARY 2018 FINANCIALS
Sales Tax Paid $2,028
Property Taxes $1,358
Maintenance $600
Gross Expenses $3,987
Net Operating Income $27,020
Information provided in this analysis has been prepared from sources deemed to be reliable, but is not guaranteed to be a complete summary or statement of all available data necessary for making apurchase or investment decision. No representations or warranties are made by KW Commercial, 11 S. Bumby Avenue, Orlando, Florida 32803 as to the accuracy, completeness or implied futureperformance of the information provided.
Income & Expenses
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POPULATION 1 MILE 3 MILES 5 MILES
Total population 2,628 14,422 28,529
Median age 42.6 41.0 42.2
Median age (Male) 40.8 38.0 39.9
Median age (Female) 43.5 42.8 43.3
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 1,116 5,820 11,560
# of persons per HH 2.4 2.5 2.5
Average HH income $37,822 $49,141 $51,447
Average house value $117,144 $124,494 $150,093
* Demographic data derived from 2010 US Census
Demographics Map & Report
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