$2,877,000

LAKEWOOD PARK PLAZA has forward potential, and rents are still somewhat low. Some tenants have been renting and are due to renew at a new rate, bringing the monthly rent roll up to approximately $15,000.00 monthly. To rebuild such a complex with a 20% down payment at 5% interest leaves room to refinance later, and monthly debt service over 30 years, amortized, gives you a $12,500.00 monthly payment.Whether you are a 1031 Exchange, Cash, or Financing, this property is already up and running.The new growth potential, including the Arts Cultural Programing and the renovation of Old City Hall, to name a few, are coming to Fort Pierce and the surrounding area. This plaza sits on Turnpike Feeder Road. With proximity to Kings Hwy and State Road 70.