Building Details

Year Built 1965

Buildings 2

Listing Agency: CAPSTAR REAL ESTATE LLC Show Phone

Listed By: Gavin Perry · License #3628492

Source: Dennisrealty

Added: Oct 20 Changed: Oct 23 Last Checked: Oct 23 at 5:00PM

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Investment Insights

Based on property information with market context.

This Fort Meade property includes a Circle K convenience store and a laundromat in two buildings totaling approximately 4,062 SF on 0.37 acres. The building dates to 1965; the convenience store was renovated in 2013, and the laundromat in 2025. Circle K Stores, Inc. is identified as the master tenant, with Bright Laundromat, LLC subleasing the laundromat. The appraisal assumes an absolute-net lease structure. The sale covers the leased-fee real estate interest only; the adjacent fuel parcel and its canopy, tanks, and pumps are excluded, as are operating businesses, tenant-owned equipment, and inventory.

At the corner of N Charleston Avenue and 2nd Street, the property has frontage on US Highway 17 and 15 on-site parking spaces. Appraisal-cited traffic is approximately 24,500 vehicles daily.

Key Highlights

• Two‑building property totaling approximately 4,062 SF on 0.37 acres
• Circle K convenience store and laundromat; Bright Laundromat, LLC subleases the laundromat
• Corner at N Charleston Avenue and 2nd Street, with frontage on US Highway 17

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,812

Cap Rate

4.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,056,240 $1.1M

Cap Rate 7%

$754,457 $754.5K

Cap Rate 9%

$586,800 $586.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,062 SF

Gross rent

$75.6K $18.60/SF

− Vacancy

−$5.1K −$1.26/SF

EGI

$70.4K $17.34/SF

− OpEx

−$17.6K −$4.33/SF

NOI

$52.8K $13.00/SF

Area

Polk County, FL

Vacancy

6.80%

Lease Rate

$18.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,056,240

Cap Rate 7%

$754,457

Cap Rate 9%

$586,800

Alternative Uses

Best Use

Specialty Retail

$754.5K

$660.2K – $880.2K (±1% cap)

NOI $52,812 @ 7.0% cap · market cap 4.22%

Second Best

Retail

$651.7K

$570.2K – $760.3K (±1% cap)

NOI $45,616 @ 7.0% cap · market cap 3.65%

Theoretical Best

Office A

$976.1K

$854.1K – $1.14M (±1% cap)

NOI $68,329 @ 7.0% cap · market cap 5.47%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Grocery and convenience stores

Suggested Use

Top Pick Dental Office Law Firm Spa & Massage Center Nail Salon Hair Salon Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24,500 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

259

Businesses Nearby

81k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 58% Dining 37% Home Improvements & Furnishings 5%

McDonald's Dining

27,149 visits/mo 0.1 miles

Circle K Shops & Services

22,592 visits/mo 0.1 miles

Dollar General Shops & Services

10,356 visits/mo 0.3 miles

Dollar Tree Shops & Services

5,665 visits/mo 0.3 miles

Vision Ace Hardware Home Improvements & Furnishings

4,272 visits/mo 0.2 miles

Demographics for 33841, FL

7,439

Population

3,776

Households

2

Avg Household Size

40

Median Age

9%

College-Educated

77%

High-School Grad

168.4 sq mi

ZIP Area

44

Density / Sq Mi

$39,608

Median Household Income

$35,374

Median Earnings

$860

Median Rent

$138,700

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Two buildings contain a convenience store and laundromat, with the laundromat subleased to a separate operator.

Where is this grocery and convenience store located?

The property is located at 116 N CHARLESTON AVENUE Fort Meade, FL.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: Two‑building property totaling approximately 4,062 SF on 0.37 acres; Circle K convenience store and laundromat; Bright Laundromat, LLC subleases the laundromat; Corner at N Charleston Avenue and 2nd Street, with frontage on US Highway 17