5441 Socrum Loop RdLakeland, FL 33809

Property Details for 5441 Socrum Loop Rd

Year built

2004

Lot size

0.85 AC

Property size (Sq ft)

3,425 SF

Property type

Retail properties

Property subtype

Banks

APN

242730000000013070

APU

242730000000013070

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,290,011

  6.5%

  $1,190,779

  7%

  $1,105,724

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,691,484

  Geo Method

  $1,576,280

• Alternative Use

  Use

  Valuation

  Residential

  $1,004,467

  Hospitality

  $920,086

  Educational

  $765,501

  Medical

  $791,828

  Retail

  $1,190,779

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.1131

Longitude

-81.9461

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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