3675 Innovation Dr Lakeland, FL 33812-4106
- Medical offices
- 8,000 SF
- 1.26 lot acres
Feb 07, 2025
Current Use by Public Records
- Premier Heart and Vascular Center / Medical Clinic / Cardiologist
- Dr. Rami Heart, FACC, FACOI / Cardiologist
Property Details for 3675 Innovation Dr
- Year built
- 2005
- Lot size
- 1.26 lot acres
- Property size
- 8,000 SF
- Property type
- Medical offices
- Property subtype
- Medical centers
- APN
- 242910280562000130
- APU
- 242910280562000130
Description
This exceptional investment opportunity presents a fully leased, 8,000-square-foot Class B office and medical building situated on a 1.26-acre lot in Lakeland, Florida. Located at 3675 Innovation Drive, this single-story, free-standing building boasts a prime location within the Parkway University Center on US Highway 98 South. The property features 52 parking spaces and is zoned for professional use in Polk County. Constructed in 2005, the building is currently 100% occupied by two long-term, well-established tenants—one national and one regional—under a triple-net (NNN) lease structure. This presents a stable and predictable income stream with a 5.70% cap rate and an asking price of $3,800,000 ($475 per square foot). The property offers significant upside potential with the possibility of expanding the building by approximately 2,200 square feet. Detailed financial information is available upon request. This is a rare opportunity to acquire a high-quality, fully leased NNN investment property in a desirable Lakeland location. The APN is 24-29-10-280562-000130.
Value Estimation
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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
- -81.8896
- Latitude
- 27.9794
- CBSA code
- 29460
- CBSA name
- LAKELAND, FL METROPOLITAN STATISTICAL AREA
