2440 Us Hwy 98th N Lakeland, FL 33805-2411

Property Details for 2440 Us Hwy 98th N

Year built

1973

Lot size

4.17 lot acres

Property size

3,840 SF

Zone code

I-1

Property type

Office buildings

APN

232801000000021030

APU

232801000000021030

Description

This exceptional investment opportunity presents a 45,061 square foot industrial warehouse located at 2440 US Highway 98 N, Lakeland, FL 33805. The property, situated on a 4.17-acre lot, features three buildings totaling 45,061 square feet and boasts a desirable I-1/MCC zoning designation. Built in 1973, the single-story structure includes a retail showroom (approximately 8,500 sq ft with 12' clear ceilings), a warehouse-style showroom (approximately 8,260 sq ft with 18' clear ceilings), and approximately 2,460 sq ft of office space. The remaining warehouse space (approximately 28,000 sq ft) offers four 10' x 10' dock-high doors and four 12' x 13' drive-in doors. The property benefits from robust 3-phase, 240-volt, 2,500-amp electrical service. Currently leased to a strong regional tenant with seven locations under a Net Lease agreement expiring September 2027 (no options), this property offers a compelling 7.80% cap rate at an asking price of $4,950,000 ($109.85/sq ft). Its strategic location less than one mile from Interstate 4, Exit 32 (Lakeland's primary I-4 access point between Tampa and Orlando), across from a Home Depot, and near Lakeland Regional Hospital, makes this a highly attractive investment. Ample space around the building allows for potential lay-down yard usage. The property's unique industrial zoning within a mixed commercial corridor adds to its investment appeal.

Location Insight

City

Lakeland

County

Polk

State

Florida

Longitude

-81.9606

Latitude

28.0747

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments