610 E Burleigh Boulevard Tavares, FL 32778
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
- Property TypeCommercial
- NeighborhoodTavares Tavares Commons
- CountyLake
- Taxes$11,962
- HOA/Condo/Coop Fees$0
- Days on Site35 Days
- MLS StatusActive
- MLS ID NumberO6198044
- Home Size Source Builder
- Year Built2023
- Lot Size1.24 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction Block
- Number of Stories 1
- Acreage 1.24
- Property Sub Type Retail
- Foundation Concrete Perimeter
- Zoning C-2
- Ownership Other
- Parcel Number 21-19-26-0010-000-00100
Interior Features
- Cooling Office Only
Exterior Features
- Waterfront Property No
Community Features
- Township 19S
- MLS Area 32778 - Tavares / Deer Island