701 Canal StMulberry, FL 33860

Property Details for 701 Canal St

Year built

1944

Lot size

0.11 AC

Property size (Sq ft)

3,140 SF

Zone code

C-2

Property type

Retail properties

Property subtype

Other individual retail properties

APN

233001142480003040

APU

233001142480003040

Description

This 3,140-square-foot vacant storefront in Mulberry, Florida, presents a compelling value-add opportunity for owner-users or investors. Located at 701 E Canal St, this C-2 zoned property sits on a 0.22-acre lot and offers 16 parking spaces. Built in 1944 and renovated in 2022 (including a new roof), the building is ready for immediate occupancy. The property enjoys high visibility on a main thoroughfare with an average daily traffic count of 23,000 vehicles. Its strategic location near established businesses and the planned construction of the new Mulberry City Hall across the street promises increased foot traffic and potential for synergy. The permitted uses under C-2 zoning include retail, restaurant, medical, and more. While previously a laundromat, a deed restriction prohibits future operation of any coin laundry or laundromat on the site. The asking price is $425,000 ($146.50/sq ft). This fee-simple property offers significant potential for growth and return on investment. The property's APN is 23-30-01-142480-003040/003030.

• CAP approach

  CAP return

  Valuation

  6%

  $952,948

  6.5%

  $879,644

  7%

  $816,813

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,445,115

  Geo Method

  $1,445,115

• Alternative Use

  Use

  Valuation

  Residential

  $742,013

  Hospitality

  $679,680

  Educational

  $565,486

  Medical

  $584,934

  Retail

  $879,644

Location Insight

City

Mulberry

County

Polk

State

Florida

Latitude

27.8946

Longitude

-81.9678

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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