4521 Macey Ln Lake Wales, FL 33859-7331
- Drive through restaurants
- 3,114 SF
- 1.03 lot acres
Current Use by Public Records
- Wendy's / Fast Food Restaurant / Hamburger Restaurant
Property Details for 4521 Macey Ln
- Year built
- 2002
- Lot size
- 1.03 lot acres
- Property size
- 3,114 SF
- Property type
- Drive through restaurants
- APN
- 272916864750000010
- APU
- 272916864750000010
Description
This exceptional investment opportunity presents a fee-simple, 3,114 square foot Wendy's restaurant located at 4521 Macey Ln, Lake Wales, FL 33859. The property boasts a 6.25% cap rate and a strong net lease with a corporate guarantee from Wendy's, minimizing landlord responsibilities. The lease commenced November 7, 2013, and expires November 6, 2028, with four 5-year renewal options, each including a 10% rent increase. Current rent is $127,509 annually, with 7.5% rent bumps every five years during the initial lease term. The property sits on a 1.03-acre lot at a hard-signalized intersection of US Hwy 27 and Star Lake Dr, experiencing approximately 40,500 vehicles daily. Built in 2002, this location benefits from excellent retail synergy, situated approximately 1.3 miles from Eagle Ridge Mall and near major retailers such as Home Depot, Kohl's, Publix, and more. Lake Wales is experiencing significant growth, with over 40 projects underway and approvals for more than 15,660 new residential units. This prime location offers substantial upside potential for long-term growth and passive income. The asking price is $2,040,000. APN: 272916864750000010. 100% occupancy.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,790,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,895,000
- 6.5%
- $2,175,000
- 7%
- $2,125,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,025,000
- Geo Method
- $1,920,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,890,000
- Retail
- $1,850,000
- Mixed-Use
- $1,830,000
- Hospitality
- $2,160,000
- Educational
- $2,230,000
- Residential Income
- $1,870,000
- Energy
- $2,350,000
- Income-Based Land
- $2,015,000
- Food Service
- $1,715,000
Location Insight
- Map
- Local Demand
- City
- Lake Wales
- County
- Polk
- State
- Florida
- Longitude
- -81.625
- Latitude
- 27.964
- CBSA code
- 29460
- CBSA name
- LAKELAND, FL METROPOLITAN STATISTICAL AREA
