Property Details for 2920 Franklin St

Year built

2023

Lot size

1.22 lot acres

Property size

7,600 SF

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

This exceptional investment opportunity presents a brand-new, 7,600-square-foot Sherwin-Williams commercial paint store in Lakeland, Florida. Located on a 1.22-acre lot at 2920 Franklin St, 33803, this property boasts excellent visibility and accessibility, situated less than five miles southeast of downtown Lakeland with easy access to major roadways. The store, opened in February 2024, benefits from a strong 9-year net lease with five 5-year renewal options. Rent increases are structured as flat through the initial term, then 7.4% in the first option and 8% in subsequent options. The property features 19 parking spaces and offers a larger capacity and extended capabilities compared to other Sherwin-Williams locations, including three steel roll-up doors and a contractor desk. This is Lakeland's second, and larger, Sherwin-Williams commercial paint store, uniquely positioned to serve the southern part of Polk County. The asking price is $2,400,000, representing a compelling 5.95% cap rate and a $142,800 annual net operating income (NOI). The Lakeland-Winter Haven MSA, with a population of 754,798, is experiencing rapid growth, making this a highly attractive investment in a thriving market. The property's strategic location, strong tenant, and favorable lease terms combine to create a robust and secure investment opportunity. This is a rare chance to acquire a newly constructed, high-performing retail asset in a dynamic and expanding region.

Location Insight

City

Lakeland

County

Polk

State

Florida

Longitude

-81.9008

Latitude

27.9978