For Sale
$1,300,000

198 Melton Ave Auburndale, FL 33823

High-traffic, NNN storefront, excellent ROI.

Overview

Added:
Dec 11, 2024
Days on market:
128
This 9,142 square foot vacant storefront, located at 198 Melton Ave, Auburndale, FL 33823, presents a compelling investment opportunity. Built in 1972 and renovated in 2007, this single-story building sits on a 0.87-acre lot and offers a fee-simple ownership structure. The property boasts a strong pro-forma cap rate of 7.03% and a pro-forma NOI of $91,420, with a list price of $1,300,000 ($142.20/sq ft). The property benefits from a prime location in a high-traffic area, experiencing over 27,750 vehicles per day. Auburndale's strategic location between Tampa and Orlando, coupled with its proximity to Lakeland (ranked #7 in U.S. News & World Report's "Best Places to Move"), contributes to its significant growth potential. The area features numerous national retailers, including Publix, Winn-Dixie, CVS, Planet Fitness, KFC, Walmart, and Dunkin'. Further enhancing the area's economic outlook is the Coca-Cola facility's planned $51 million investment and 50 new jobs. The lease is a single-tenant NNN lease with 3% annual rent bumps. Seller financing is available. This property is priced below replacement cost, making it attractive to both owner-users and investors.

Highlights

  • Below replacement cost offering, ideal for owner-users and investors.
  • High-visibility location near a rapidly growing US city.
  • High traffic count: Situated near a major retail corridor with over 27,500 vehicles per day (VPD).
  • Desirable location: Near Lakeland and Auburndale, ranked #7 among "Best Places to Move in the US" by U.S. News.
  • Strong retail presence: Surrounded by national retailers including Publix, Winn-Dixie, CVS, and more.
  • Economic growth driver: Nearby Coca-Cola facility expanding with a $51 million investment and 50 new jobs; further job growth in neighboring cities.

Property Details for 198 Melton Ave

Property type
Retail properties, Retail space
Square Feet
9,142 SF
Year Built/Renovated
1972/2007
Buildings
1
Stories
1
Lot Size (sq. ft)
37,897 SF
Units
1

Location Insight

City
Auburndale
County
Polk
State
Florida
Latitude
28.0564567
Longitude
-81.781664
198 Melton Ave, Auburndale, Florida

FAQs

What type of property is this?
Retail property - High-traffic, NNN storefront, excellent ROI.
Where is the retail property located?
The property is located at 198 Melton Ave Auburndale, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Below replacement cost offering, ideal for owner-users and investors.; High-visibility location near a rapidly growing US city.; High traffic count: Situated near a major retail corridor with over 27,500 vehicles per day (VPD).
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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198 Melton Ave
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