45730 Us Highway 27Davenport, FL 33897

Property Details for 45730 Us Highway 27

Lot size

1.07 AC

Property type

Land

Property subtype

Commercial land

APN

262601488301000090

APU

262601488301000090

Description

This exceptional investment opportunity presents a brand-new, 4,000 square foot Sherwin-Williams storefront in Davenport, Florida. Located on US Highway 27, this property boasts a 10-year net lease (commencing October 1, 2024, and expiring September 30, 2034) with a corporate guarantee from Sherwin-Williams, a globally recognized brand. The lease includes six, five-year options with an 8% rent increase at each option. The property sits on a 0.82-acre lot and includes 26 parking spaces. Built in 2024, this single-story building is situated in a high-growth area with over 6,500 housing units nearby and benefits from high traffic counts on US Highway 27 and Ronald Reagan Parkway, with proximity to I-4. The property's strong location within a thriving retail corridor, coupled with the exceptional tenant and lease terms, makes this a compelling investment opportunity with a current Net Operating Income (NOI) of $147,000 and a 5.75% cap rate. The asking price is $2,556,500, representing a price per square foot of $639.12. The property is zoned RACX (Regional Activity Center) and offers a fee-simple ownership structure. The area's population and household growth are projected to exceed 4% annually for the next five years, further enhancing the long-term value of this investment. The average household income within one mile exceeds $112,000. This is a 100% occupied property with an occupancy date of October 1, 2024.

• Alternative Use

  Use

  Valuation

  Residential

  $15,563,053

  Hospitality

  $14,255,673

  Educational

  $11,860,553

  Medical

  $12,268,455

  Retail

  $18,449,748

Location Insight

City

Davenport

County

Polk

State

Florida

Latitude

28.2578

Longitude

-81.6601

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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