23720 Us-27 Lake Wales, FL 33859
- Retail properties
- 3,200 SF
Current Use by Public Records
- Retail properties
Property Details for 23720 Us-27
- Year built
- 2025
- Property size
- 3,200 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee simple ownership of a brand-new, 3,200 square foot Panera Bread restaurant located at 23720 US-27 in Lake Wales, Florida (33859). Built in 2025, this single-story building sits on a commercially zoned lot and boasts 39 parking spaces. The property features a 15-year absolute NNN lease with a corporate guarantee from Panera Bread, ensuring consistent income and minimal landlord responsibilities. The lease includes three 5-year renewal options, providing long-term stability. The current occupancy is 100%, generating a strong net operating income (NOI) of $209,600 and a compelling 4.85% cap rate. The asking price is $4,322,000. This property benefits from its strategic location within a larger development, adjacent to Shoppes On The Ridge, and within a growing area of Lake Wales, offering a strong local demographic base within a 5-mile radius. The property's location in Florida offers the added advantage of no state income tax. Scheduled rental increases are built into the lease, further enhancing the investment's long-term value. This is a turnkey investment with significant upside potential.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lake Wales
- County
- Polk
- State
- Florida
- Longitude
- -81.6224
- Latitude
- 27.9551
