4204 US Highway 98 N - Storefront FOR SALE


Lakeland, FL 33809- City of Lakeland
$4,654,000 USD
813-434-8278
4204 US Highway 98 N, Lakeland, FL for Sale
$4,654,000 USD
Storefront - FOR SALE
1/15
null | 5.75% Cap Rate

4204 US Highway 98 N
Lakeland, FL 33809
City of Lakeland


HIGHLIGHTS

  • Heartland Dental & Chipotle | Two-Tenant Strip | Corporate Signed Leases | Limited Landlord Responsibilities
  • Polk County is the Fastest Growing County in Florida | Top Migrating City | Downtown Lakeland - New Development
  • Signalized Hard Corner Intersection | Directly Off I-4 | Surrounding Retailers | Lakeland - High Growth Trade Area
  • Strong Demographics & Trade Area | Annual Population Growth
  • Exceptional Sales History at Property | Long-Term Viability at Site

OVERVIEW

• Opportunity to acquire the two-tenant Heartland Dental and Chipotle strip • Heartland Dental has operated at this location for 11 years and has ~4 years remaining on their lease with 1 (5-year) to extend • Chipotle has operated at this location for 10 years and recently signed a 15-year extension through December 31, 2040 with 2 (5-year) options to extend • Landlord responsibilities are limited to roof, structure, and foundation • The roof was installed in 2015 and has a warranty until 2035 • Tenants have a contractual right to be on the pylon sign on the hard corner of US-98 & Sleepy Hill

FOR SALE DETAILS

PRICE

$4,654,000 USD

PRICE/SF

$745 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chipotle & Heartland Dental - Lakeland FL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding, Restaurant, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

PUD

APN/PARCEL ID

23-27-35-000000-011120,35-27-23-000000-011020

ASK ABOUT THIS PROPERTY

William WambleSRS Real Estate PartnersMore Info
813-434-8278

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

William WambleSRS Real Estate PartnersMore Info
813-434-8278

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.