23720 Us-27Lake Wales, FL 33859

Property Details for 23720 Us-27

Year built

2025

Property size (Sq ft)

3,200 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee simple ownership of a brand-new, 3,200 square foot Panera Bread restaurant located at 23720 US-27 in Lake Wales, Florida (33859). Built in 2025, this single-story building sits on a commercially zoned lot and boasts 39 parking spaces. The property features a 15-year absolute NNN lease with a corporate guarantee from Panera Bread, ensuring consistent income and minimal landlord responsibilities. The lease includes three 5-year renewal options, providing long-term stability. The current occupancy is 100%, generating a strong net operating income (NOI) of $209,600 and a compelling 4.85% cap rate. The asking price is $4,322,000. This property benefits from its strategic location within a larger development, adjacent to Shoppes On The Ridge, and within a growing area of Lake Wales, offering a strong local demographic base within a 5-mile radius. The property's location in Florida offers the added advantage of no state income tax. Scheduled rental increases are built into the lease, further enhancing the investment's long-term value. This is a turnkey investment with significant upside potential.

Location Insight

City

Lake Wales

County

Polk

State

Florida

Latitude

27.9551

Longitude

-81.6224

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