NNN Gas Station
For Sale
Contact for pricing
1615 W Memorial Blvd, Lakeland, FL 33815
Freestanding fueling property supported by a pure NNN lease with scheduled annual increases and extension options.
Property SizeContact for details
Days on Market143
Property Features for 1615 W Memorial Blvd
General Information
Standard status
Active
Property subtype
Special Purpose
Occupancy
100%
Additional Details
Cap Rate
8%
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Grimaldi Commercial Realty Corp
(813) 882-0884
Listed By:
Kari Lynn Grimaldi · License #FL BK3076744
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 3:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Grimaldi Commercial Realty Corp
Investment Insights
Based on property information with market context.
This gas station is positioned on W. Memorial Blvd in Lakeland, Florida, with a pure NNN lease currently in place. The agreement began July 19, 2018, runs through July 18, 2028, and provides for a 3% annual rental increase throughout the initial term. The lease also includes two five-year extension options.
The property offers a defined long-term lease structure with the tenant responsible under the NNN arrangement. Reported in-place performance includes a 10.44% cash-on-cash return and an approximately 8% cap rate. By year 5, the reported cash-on-cash return is over 14.31% with a cap rate over 8.7%; in the final lease year, before any options are exercised, the reported cash-on-cash return is over 20% and the cap rate is over 10%.
The property offers a defined long-term lease structure with the tenant responsible under the NNN arrangement. Reported in-place performance includes a 10.44% cash-on-cash return and an approximately 8% cap rate. By year 5, the reported cash-on-cash return is over 14.31% with a cap rate over 8.7%; in the final lease year, before any options are exercised, the reported cash-on-cash return is over 20% and the cap rate is over 10%.
Key Highlights
- Pure NNN lease runs from July 19, 2018 through July 18, 2028
- 3% annual rental increases during the initial 10‑year lease term
- Two five‑year extension options follow the initial lease period
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
42k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 23%
Wendy's
Dining
19,025 visits/mo
0.2 miles
Taco Bell
Dining
12,512 visits/mo
0.4 miles
Lakeland Ford
Shops & Services
5,072 visits/mo
0.2 miles
Mobil
Shops & Services
2,348 visits/mo
0.0 miles
Enterprise Rent-A-Car
Shops & Services
1,281 visits/mo
0.4 miles
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Freestanding fueling property supported by a pure NNN lease with scheduled annual increases and extension options.
Where is this gas station located?
The property is located at 1615 W Memorial Blvd Lakeland, FL.
What are key features of this property?
This property features: Pure NNN lease runs from July 19, 2018 through July 18, 2028; 3% annual rental increases during the initial 10‑year lease term; Two five‑year extension options follow the initial lease period
