NNN Flex/Retail Investment | 305 W Main St
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NNN Flex/Retail Investment 305 W Main St
13,660 SF Retail Building Lakeland, FL 33815 $3,100,000 ($227/SF) 7.25% Cap Rate
Investment Highlights
- Flex/retail 13,660 SF building on Main St with new roof
- 4-5 year left on the leases and 4% annual increases
- Located in downtown Lakeland between Tampa and Orlando
- Fully leased with 5 tenants, NNN lease
- Walking distance from restaurants and services
Executive Summary
Flex/retail 13,660 SF building on Main St located downtown Lakeland between Tampa and Orlando with brand new roof. The space has urban interior design elements including open ceilings, fully air-conditioned, exposed air ducts, exposed brick wall features and glass storefronts, with 30 parking spaces + street parking. Fully leased with 5 tenants, NNN lease, 4-5 year left on the leases and 4% annual increases.
Suite 305 is a 4,725 SF gym, high ceiling, restrooms with showers, fully renovated in 2023. Suite 307-1 is an non-profit office/creation studio with 4 offices, restroom and breakroom. Suite 307-2 is a coffee shop and coffee roasters. Suite 309-1 is a dance studio, fully renovated in 2024, exposed brick wall, breakroom, 2 restrooms and storage. Suite 309-2 is a bike retail shop, open space with storage space.
The property is located minutes from the Sports & Events District who has future growth and near the new 180 acres Bonnet Springs Park opened in 2022. Located in downtown Lakeland between Tampa and Orlando within walking distance to restaurants, hotels, bars, shopping, services, this location offers easy access to I-4 and Polk Parkway within minutes.
Suite 305 is a 4,725 SF gym, high ceiling, restrooms with showers, fully renovated in 2023. Suite 307-1 is an non-profit office/creation studio with 4 offices, restroom and breakroom. Suite 307-2 is a coffee shop and coffee roasters. Suite 309-1 is a dance studio, fully renovated in 2024, exposed brick wall, breakroom, 2 restrooms and storage. Suite 309-2 is a bike retail shop, open space with storage space.
The property is located minutes from the Sports & Events District who has future growth and near the new 180 acres Bonnet Springs Park opened in 2022. Located in downtown Lakeland between Tampa and Orlando within walking distance to restaurants, hotels, bars, shopping, services, this location offers easy access to I-4 and Polk Parkway within minutes.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
13,660 SF
Building Class
B
Year Built
1924
Price
$3,100,000
Price Per SF
$227
Cap Rate
7.25%
NOI
$224,750
Tenancy
Single
Building Height
1 Story
Building FAR
0.71
Land Acres
0.44 AC
Opportunity Zone
Yes
Zoning
C-6 - Commercial
Parking
30 Spaces (2.2 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Bike Score ®
Very Bikeable (79)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $384,714 | |
| Land Assessment | $34,880 | Total Assessment | $487,184 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$34,880
Improvements Assessment
$384,714
Total Assessment
$487,184
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NNN Flex/Retail Investment | 305 W Main St
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