316 Memorial Blvd, Lakeland, FL 33801
- Retail properties & Spaces
- 4,650 SF
- 1.10 lot acres
Current Use by Public Records
- Western Union / Bank / Credit Union
- 7-Eleven / Grocery & Convenience Store
- PNC Bank ATM / Atm
Property Details for 316 Memorial Blvd
- Year built
- 2019
- Lot size
- 1.10 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple 7-Eleven convenience store and gas station in Lakeland, Florida. Built in 2019, the 4,650-square-foot property sits on a 1.1-acre lot with 28 parking spaces and 16 gas pumps. Located on a hard corner with high visibility (71,000 vehicles per day), it benefits from its strategic position near Lakeland Regional Health Medical Center and within a dense retail corridor. The property boasts a 100% occupancy rate under a corporate-guaranteed, absolute NNN lease with a remaining term of 10.1 years, expiring December 31, 2034. The lease includes four 5-year options and 10% rent bumps every five years. The current net operating income (NOI) is $359,760, yielding a 5.15% cap rate, and the asking price is $6,985,631 ($1,502.29 per square foot). This property is situated in Polk County, Florida's fastest-growing county, offering significant long-term growth potential. The property's prime location, strong tenant, and favorable lease terms make it an attractive investment for discerning buyers. The property's parcel number is 24-28-07-170500-001010.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lakeland
- County
- Polk
- State
- Florida
- Longitude
- -81.9543
- Latitude
- 28.0552
