3130 N Us Highway 98 Lakeland, FL 33805

This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN leased Bob Evans restaurant located at 3130 US Hwy 98 N, Lakeland, FL 33805. The property boasts a 5,142 square foot building on a 1.08-acre lot, constructed in 1985 and renovated in 2009. With 88 parking spaces, it benefits from a prime location fronting US Hwy 98 (58,000 vehicles per day) and directly off I-4 (111,500 vehicles per day), within the rapidly growing I-4 corridor connecting Tampa and Orlando. The current lease, commencing May 1, 2018, and expiring April 30, 2037, offers a remaining term of 12.4 years with 2% annual rent bumps and six 5-year lease options. The property generates a strong NOI of $205,040, representing a 5.50% cap rate on the $3,728,000 asking price. The property's strong performance is further supported by Lakeland's robust demographics, including an average household income of $75,928 and a 2.28% annual population growth rate. Polk County, where Lakeland is located, is the fastest-growing county in Florida, experiencing significant population influx due to affordable housing and proximity to major metropolitan areas. The property's APN is 232801000000031190. This is a rare opportunity to acquire a stable, high-performing asset in a thriving market.