3212 US Highway 98 N 3,337 SF Retail Building Lakeland, FL 33805 $3,200,000 ($958.95/SF) 4.76% Cap Rate

Rare opportunity to acquire a high performing Burger King investment strategically positioned within one of Central Florida's most active long term growth corridors. Unlike traditional single tenant net lease investments that rely solely on fixed rental income, this offering combines stable in place cash flow, recurring percentage rent participation, future redevelopment potential and long term land appreciation. Situated on approximately 1.20 acres at the US Highway 98 and Interstate 4 corridor, the property is leased through April 2029, with an automatic 10 year renewal extending the term to April 2039 unless the tenant delivers written notice of non renewal before September 21, 2028. Contractual base rent steps from $100,000 to $125,000 in 2029 and $150,000 in 2034, independent of sales performance. In addition to base rent, the lease provides 8.5% percentage rent on gross sales above the minimum an override the store has generated in every lease year shown, producing $52,454 in trailing three year average annual override income. Total in place revenue of $152,454 prices the offering at a 4.76% cap rate on the combined base and percentage rent basis; buyer to verify all figures against the executed lease and monthly sales records in the due diligence package. The property's long term strategic value has been validated by third party redevelopment interest. Per ownership, a redevelopment focused buyer previously submitted an acquisition proposal exceeding the asking price, including a cash for keys offer to the tenant to obtain site control. The tenant declined without submitting a counteroffer, demonstrating commitment to the location while validating the underlying land value. Documentation available for review during due diligence; buyer to verify. Located within Lakeland's Midtown CRA District, the property benefits from continued public and private investment throughout the surrounding trade area, including FDOT's US-98 widening program, the Gibson Trails and Prospect Lake Wire residential programs, and commercial intensification near Lakeland Park Center. Institutional confidence is evidenced by the recently developed CarMax directly across the street and a dense corridor of national operators including LongHorn Steakhouse, Denny's, Bob Evans, Waffle House, Dunkin' and Domino's. As population growth, retail demand and commercial development continue throughout the Tampa Orlando corridor, highly visible interstate retail locations with proven traffic patterns and redevelopment potential become increasingly scarce. This is more than a passive NNN investment it is a strategic real estate position offering immediate income, sales linked percentage rent upside, redevelopment optionality and long term value creation.
Location Description:
Positioned along the highly trafficked US Highway 98 corridor with immediate access to Interstate 4, this property benefits from exceptional visibility, strong ingress and egress, and a strategic location within one of Central Florida's most active retail and commercial growth markets. Located between Tampa and Orlando, Lakeland continues to experience significant population growth, residential expansion, logistics investment and retail development driven by its central location along the Interstate 4 corridor. The property sits directly across from the recently developed CarMax and within a dense corridor of national operators including LongHorn Steakhouse, Denny's, Bob Evans, Waffle House, Dunkin' and Domino's. US Highway 98 serves as a major commercial artery for the region, carrying substantial commuter and consumer traffic while providing direct connectivity to Interstate 4. Continued investment from retailers, developers and corporate users has strengthened the corridor's long term fundamentals and increased demand for strategically positioned retail real estate. Highly visible, interstate oriented retail corners with established traffic patterns, signalized access and national retail tenancy are becoming increasingly difficult to replicate throughout Central Florida. As development activity continues throughout the Tampa Orlando corridor, this location offers investors exposure to increasing land values, strong retail fundamentals and long term redevelopment potential.