198 Melton Ave Auburndale, FL 33823

This 9,142 square foot vacant storefront, located at 198 Melton Ave, Auburndale, FL 33823, presents a compelling investment opportunity. Built in 1972 and renovated in 2007, this single-story building sits on a 0.87-acre lot and offers a fee-simple ownership structure. The property boasts a strong pro-forma cap rate of 7.03% and a pro-forma NOI of $91,420, with a list price of $1,300,000 ($142.20/sq ft). The property benefits from a prime location in a high-traffic area, experiencing over 27,750 vehicles per day. Auburndale's strategic location between Tampa and Orlando, coupled with its proximity to Lakeland (ranked #7 in U.S. News & World Report's "Best Places to Move"), contributes to its significant growth potential. The area features numerous national retailers, including Publix, Winn-Dixie, CVS, Planet Fitness, KFC, Walmart, and Dunkin'. Further enhancing the area's economic outlook is the Coca-Cola facility's planned $51 million investment and 50 new jobs. The lease is a single-tenant NNN lease with 3% annual rent bumps. Seller financing is available. This property is priced below replacement cost, making it attractive to both owner-users and investors.