3675 Innovation DrLakeland, FL 33812

Property Details for 3675 Innovation Dr

Year built

2005

Lot size

1.26 AC

Property size (Sq ft)

8,000 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

242910280562000130

APU

242910280562000130

Description

This exceptional investment opportunity presents a fully leased, 8,000-square-foot Class B office and medical building situated on a 1.26-acre lot in Lakeland, Florida. Located at 3675 Innovation Drive, this single-story, free-standing building boasts a prime location within the Parkway University Center on US Highway 98 South. The property features 52 parking spaces and is zoned for professional use in Polk County. Constructed in 2005, the building is currently 100% occupied by two long-term, well-established tenants—one national and one regional—under a triple-net (NNN) lease structure. This presents a stable and predictable income stream with a 5.70% cap rate and an asking price of $3,800,000 ($475 per square foot). The property offers significant upside potential with the possibility of expanding the building by approximately 2,200 square feet. Detailed financial information is available upon request. This is a rare opportunity to acquire a high-quality, fully leased NNN investment property in a desirable Lakeland location. The APN is 24-29-10-280562-000130.

• CAP approach

  CAP return

  Valuation

  6%

  $2,058,802

  6.5%

  $1,900,433

  7%

  $1,764,688

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,570,144

  Geo Method

  $1,461,040

• Alternative Use

  Use

  Valuation

  Residential

  $2,356,537

  Hospitality

  $2,158,575

  Educational

  $1,795,909

  Medical

  $1,857,673

  Retail

  $2,793,636

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

27.9794

Longitude

-81.8896

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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