316 Memorial BlvdLakeland, FL 33801

Property Details for 316 Memorial Blvd

Year built

2019

Lot size

1.10 AC

Property size (Sq ft)

4,650 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple 7-Eleven convenience store and gas station in Lakeland, Florida. Built in 2019, the 4,650-square-foot property sits on a 1.1-acre lot with 28 parking spaces and 16 gas pumps. Located on a hard corner with high visibility (71,000 vehicles per day), it benefits from its strategic position near Lakeland Regional Health Medical Center and within a dense retail corridor. The property boasts a 100% occupancy rate under a corporate-guaranteed, absolute NNN lease with a remaining term of 10.1 years, expiring December 31, 2034. The lease includes four 5-year options and 10% rent bumps every five years. The current net operating income (NOI) is $359,760, yielding a 5.15% cap rate, and the asking price is $6,985,631 ($1,502.29 per square foot). This property is situated in Polk County, Florida's fastest-growing county, offering significant long-term growth potential. The property's prime location, strong tenant, and favorable lease terms make it an attractive investment for discerning buyers. The property's parcel number is 24-28-07-170500-001010.

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.0552

Longitude

-81.9543

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