5508 Us Hwy 98th N Lakeland, FL 33809-3101

Property Details for 5508 Us Hwy 98th N

Year built

1978

Lot size

0.16 lot acres

Property size

1,200 SF

Zone code

C-3

Property type

Retail space

APN

232723008000000770

APU

232723008000000770

Description

This 1,880 sq ft, single-story office building in Lakeland, Florida, presents a compelling investment opportunity for owner-users or investors. Situated on a 0.16-acre lot at the high-traffic intersection of US Highway 98 North and Gibsonia Galloway Road, this property boasts excellent visibility and accessibility. Built in 1978, the building is comprised of two units: a 1,200 sq ft space currently owner-occupied and a 680 sq ft space leased to a long-term tenant for $850/month ($15.45/sq ft) on a month-to-month basis with a 60-day termination clause. The property features eight parking spaces, four in the front and four in the rear, accessible from both US 98 and an alleyway. The building is constructed of block and includes three bathrooms, central air conditioning in the larger unit, and window units in the smaller. The property is zoned C-2, City of Lakeland, allowing for a variety of uses. The asking price is $495,000 ($263.30/sq ft). Annual property taxes are $3,150, and insurance is $5,000. The property is served by FGUA water and utilizes a septic tank. Two water meters and three electric meters are available. The high daily traffic count of 54,500 vehicles provides exceptional exposure. The current owner will vacate the larger unit, creating an opportunity for immediate occupancy or leasing. The tenant space could potentially be subdivided. Excellent signage opportunities exist due to grandfathered signage on US 98.

Location Insight

City

Lakeland

County

Polk

State

Florida

Longitude

-81.9741

Latitude

28.1138

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments