$10,000,000 USD
Commercial for Sale, 700 Harlem Tenants Circle, Clewiston, Florida 33440
- MLS#R11127667
Listed By EXP Realty LLC
The Commercial Property for Sale located at 700 Harlem Tenants Circle, Clewiston, Florida 33440 is currently for sale. 700 Harlem Tenants Circle, Clewiston, Florida 33440 is listed for $10,000,000.
Property features
Lot/Land
- Land/Lot size:
73,248 m² (788,436 ft²)
Construction
- Year built: 1978
Interior Features
- Floors: Vinyl
Security
- Features: Security PatrolSmoke Detector
Heating and Cooling
- Heating system: Central
- Cooling system: Central AC
Utilities
- Other utilities: Public
Description
Harlem Garden Apartments is a 126-unit, fully HAP-assisted property sitting on 18 acres in Clewiston with no property taxes. Occupancy is 97%+, rents are backed by HUD, and the asset is fully staffed and in compliance.
2024 was distorted by one-time costs (insurance spike, HUD repayment, extraordinary repairs). When we normalize, NOI comes in around ~$525k. With the next HUD rent adjustment and expense optimizations, we project $650k NOI in 2026, which supports our $10MM asking price at a 6.5% cap.
Location
700 Harlem Tenants Circle, Clewiston, Florida 33440