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3004 N US Highway 98
Lakeland, FL 33805
Retail Property For Sale
Investment Highlights
- Absolute NNN lease structure providing a hands-off investment to a buyer.
- Tenant recently exercised its first 5-year option, demonstrating commitment to this location.
- Offered at approximately $280/SF, below-replacement-cost basis on 0.46 acres.
- Corporate guarantee backed by iAnthus Capital Holdings, Inc., a publicly traded cannabis company.
- Below-market rent at $20/SF, providing rent security and upside in any re-lease scenario.
- E-commerce resistant tenant offering portfolio diversification benefits for net-lease investors.
Executive Summary
Kyle Matthews
License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
License # BK3554632, CQ1066435 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,610 SF
Building Class
C
Year Built
1976
Price
$1,009,790
Price Per SF
$279.72
Cap Rate
7.15%
NOI
$72,200
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.18
Lot Size
0.46 AC
Zoning
C2
Frontage
88’ on US Highway 98
Property Taxes
| Parcel Number | 23-28-01-016500-000315 | Improvements Assessment | $394,210 |
| Land Assessment | $228,160 | Total Assessment | $622,370 |
Property Taxes
Parcel Number
23-28-01-016500-000315
Land Assessment
$228,160
Improvements Assessment
$394,210
Total Assessment
$622,370
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