Property Details for 3814 County Line Rd

Year built

2024

Lot size

4.31 lot acres

Property type

Retail properties & Spaces

Property subtype

Grocery and convenience stores

Description

This exceptional investment opportunity presents a brand-new, 5,200 square foot Circle K convenience store situated on a 4.314-acre lot at the signalized, hard corner intersection of County Line Road and Drane Field Road in Lakeland, Florida. The property boasts a 15-year absolute NNN lease commencing November 1, 2024, and expiring November 1, 2039, with 5% rent bumps every five years and seven 5-year lease options. The property features 32 parking spaces and benefits from its prime location in a dense industrial corridor, surrounded by major distribution centers including T.J. Maxx, Home Depot, and others, ensuring a consistent customer base. The property's strategic position is further enhanced by its proximity to Interstate 4 (139,000 vehicles per day), offering easy access to Tampa and Orlando. Lakeland's robust growth, with a 2.28% annual population increase and a 9.81% increase since the last census, makes this a highly attractive investment. The property's strong financials include a $4,737,000 asking price, a $225,000 NOI, and a 4.75% cap rate. The building was constructed in 2024 and is a single-tenant property with a credit-rated tenant. The ground lease is in place. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a rapidly growing market.

Location Insight

City

Lakeland

County

Polk

State

Florida

Longitude

-82.0555

Latitude

27.9958