3212 US Highway 98 N - Fast Food FOR SALE


Lakeland, FL 33805
$2,929,000 USD
973-382-4433
3212 US Highway 98 N, Lakeland, FL for Sale
$2,929,000 USD
Fast Food - FOR SALE
1/8
null | 5% Cap Rate

3212 US Highway 98 N
Lakeland, FL 33805


HIGHLIGHTS

  • Long-Term Absolute (NNN) Opportunity - Single Tenant
  • Lease Commencement: 4/1979 - Lease Expiration: 9/2029
  • Lease Term Remaining: 6+ years
  • Renewal Options: Two, 5 year renewal options with 2.5% annual increases
  • NOI: $146,478
  • Rent Increases: 8.5% of gross sales

OVERVIEW

Priced to sell at $2,929,000 Lease Term Remaining: 6+ years Rent Increases: 8.5% of gross sales Renewal Options: Two, 5-year renewal options with 2.5% annual increases The property is located at a highly visible retail site with direct access to U.S. Highway 98 (46,500 ADT) Tenant: The Jan Companies currently owns and operates over 28 Burger King locations in Florida. Over the years, the entire Janikies Family, has worked continuously to diversify into the fast food, full service and country club arena. This impressive portfolio includes Burger King, Newport Creamery, Krispy Kreme, Popeye’s, CoreLife Eatery and several Country Clubs.

FOR SALE DETAILS

PRICE

$2,929,000 USD

PRICE/SF

$878 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Burger King

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.19 AC

LAND SF

51,836 SF

ZONING

C-2

APN/PARCEL ID

01-28-23-000000-031210

ASK ABOUT THIS PROPERTY

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973-382-4433

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973-382-4433

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