4950 Dave Robbins WayLakeland, FL 33812

  • Retail properties
  • 7,627 SF
For Sale
$2,221,000 View listing

Property Details for 4950 Dave Robbins Way

Year built
2021
Lot size
0.95 AC
Property size (Sq ft)
7,627 SF
Property type
Retail properties
Property subtype
Lifestyle centers

Description

This exceptional investment opportunity presents a 7,627 square foot O'Reilly Auto Parts store in Lakeland, Florida. The property, built in 2021, sits on a 0.95-acre corner lot at a lighted intersection on Dave Robbins Wy, boasting high visibility and traffic counts of 56,500 vehicles per day – a 40% increase since 2020. The property is strategically located as an outparcel to a Publix-anchored shopping center, benefiting from the high traffic and customer base of this dominant grocery chain. The lease, a Net Lease (NN) with a corporate guarantee from a credit-rated tenant, has 11.5 years remaining (original term 15 years, commencing June 1, 2021, and expiring May 31, 2036) with four 5-year renewal options. The current rent is significantly below market rate, reflecting a 22.6% increase since the lease's inception in Q1 2020. The property's strong location is further enhanced by its proximity (10 miles) to O'Reilly Auto Parts' Florida distribution center, serving a vast population of over 10 million people within a 100-mile radius. The surrounding area demonstrates robust demographics, with 80,794 residents within a 5-mile radius and an average household income of $112,799. Furthermore, over 5,100 new residential units are under construction, adding to the already substantial customer base. The asking price is $2,221,000, representing a cap rate of 5.85% and a NOI of $129,927. This presents a compelling investment opportunity with a strong tenant, long lease term, and significant growth potential.

4950 Dave Robbins Way, Lakeland, Florida

Location Insight

City
Lakeland
County
Polk
State
Florida
Latitude
27.9747
Longitude
-81.8847

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].