Commercial Property Investors often ask what is a 1031 Exchange and will it benefit them. Well it can be a very powerful wealth building tool. To start with you will want to identify the ideal prospects which you want to trade up to. The best way to get into a 1031 Exchange is before you sell your existing property.
Once you identify those properties that gives us the unique ability to present your property for sale. The like-kind commercial property which you have not sold yet can be marketed for sale now. The replacement property does not have to be centrally located to the property which I are releasing. If you want to trade up to a larger Multi-family, then you might want an Investment in a City with a more impressive density.
You can begin the process also by contacting a 1031 Exchange intermediary company. We can help you with that process in Florida. The 1031 Exchange intermediary will help the property owner to put a spotlight on the exchange to remain compliant with the rules.
The replacement property for Section 1031 exchanges should be like-kind. We see Investors exchange into multifamily investments which might be a 30 Unit Property. Now even though the term is “like-kind” that does not mean that you have to exchange for another Apartment Building. You can get another income producing property for example buy a Florida Net Lease Property which is producing income. So we hope this information helps you as you search for Commercial Real Estate in Florida.
Contact us for a 1031 Exchange property in Florida.
O’Reilly Commercial Realty LLC
Phone: (352) 237-2222
This Multi-Family Property below is currently Off-Market and serves as an example of Florida Commercial Real Estate Like-Kind Properties. Contact us for a similar property.
Royal Garden Village Commercial Property
|No. Spaces||50||Cap Rate||7.0% estimate|
|Price per Space||$74,000 estimate||No. Stories||1|
|Property Type||Multifamily||Lot Size||71,988 SF|
|Property Sub-type||Mobile Home – RV Community||Income Producing|
|Property Use Type||Investment|
Description of Multi-family Florida Investment Properties
Royal Garden had approximately 50 leasable pads. It was located in desirable Hollywood Florida. This was being presented as a fee simple transaction with no ground leases. All tenants were on a month to month lease for buyer’ s convenience.
There were about 41 tenants with a lease on the property. There is very little maintenance with low operating expenses. This park had a manager on site and was supposedly very easy to manage and operate. The total lot size is 71,988 sq ft (1.65 acres). It is very feasible this location can be developed into a residential apartment building, or commercial project. This property has over 220 feet of street frontage on Johnson St which is a major artery.
The commercial properties are just west of 441 on Johnson Street.
Highlights of Hollywood Investment Property
- 50 leasable pads, large lot over 1.65 acres. 220 foot frontage on major artery
- Actual net operating income was approximately $240,000
- Solid Capitalization rate was over 6.0%
- Low expenses, very easy to manage, manager on site
- Future development potential
Property in Hollywood, Florida 33024 (Broward County)
This property information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals.The 1031 exchange property information is provided for consumer personal, solely to identify potential properties for potential purchase.