For Sale
$2,300,000

5441 Socrum Loop RdLakeland, FL 33809

Prime Lakeland location, absolute NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 6,480 square foot, single-story, Class A Truist Bank building situated on a 0.85-acre lot in Lakeland, Florida. The property, built in 1991 and boasting a 100% occupancy rate since March 28, 2008, features a highly desirable absolute NNN lease with a credit-rated tenant. The current lease, with a remaining term of approximately 3.9 years, extends to September 30, 2028, and includes six five-year renewal options. Annual rent increases of 1.5% are built into the lease structure. The property generates a Net Operating Income (NOI) of $123,362, resulting in a 5.36% cap rate. The tenant, Truist Bank, is responsible for all property maintenance, including roof and structural repairs. Conveniently located at 5441 N Socrum Loop Rd, Lakeland, FL 33809, this property offers 23 parking spaces and is strategically positioned as an outparcel to a Publix-anchored shopping center, adjacent to a recently renovated McDonald's. The property is zoned C-2 and features a four-lane drive-thru. The asking price is $2,300,000, translating to a land value of $382.80 per square foot. This investment offers a secure, long-term opportunity in a rapidly growing area of Central Florida, benefiting from its proximity to Interstate 4 and the significant population growth experienced in Lakeland. The net rentable square footage is 3,425 square feet.

Highlights

  • Absolute NNN lease to Truist Bank (investment-grade tenant rated A by S&P and A+ by Fitch), with approximately 4 years remaining on the initial term.
  • Lease includes 1.5% annual rent increases and six 5-year renewal options.
  • Corporate guaranteed lease.
  • Outparcel to a Publix-anchored shopping center, located west of Interstate 4.
  • Located in Lakeland, FL, a rapidly growing area.

Property Details for 5441 Socrum Loop Rd

Property type
Retail properties, Banks
Square Feet
6,480 SF
Class
A
Year Built
1991
Buildings
1
Stories
1
Lot Size (sq. ft)
37,026 SF

Location Insight

City
Lakeland
County
Polk
State
Florida
Latitude
28.11297230462
Longitude
-81.945927045633
5441 Socrum Loop Rd, Lakeland, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
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.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
5441 Socrum Loop Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message