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NNN Restaurant w/Adjacent Parcel 2 Properties Offered at $1,795,000 in Lake Wales, FL
INVESTMENT HIGHLIGHTS
- 6.69% cap rate
- NNN lease with 9 years remaining on the initial term and two (2) five-year renewal options for long term stability
- Adjacent 0.41-acre parcel ready for multifamily development at 116 Twin Lake Blvd
- Minimal landlord responsibilities under a true NNN structure
- Established restaurant tenant operating successfully for over 25 years
- Annual 3% rent increases throughout the lease term
EXECUTIVE SUMMARY
Looking for a solid commercial investment with built-in growth potential? This offering features a fully leased NNN restaurant property along with an adjacent parcel ideally suited for multifamily development, providing both stable income and significant long-term upside.
The restaurant property includes a 3,978 sq ft building situated on a 62,350 sq ft (1.43-acre) lot with a long-term tenant under a true NNN lease, offering reliable cash flow and minimal landlord responsibilities. The lease includes annual 3% rent increases for the duration of the term, ensuring consistent income growth year over year. The neighboring parcel totals 17,979 sq ft (0.41 acres) and presents a prime opportunity for new multifamily construction, with favorable zoning and strong surrounding demographics supporting continued residential demand.
Located in a thriving commercial corridor with excellent visibility and accessibility, this property benefits from consistent traffic, strong area growth, and proximity to major retailers, residential communities, and employment centers. The combination of a stabilized NNN asset and a ready to develop parcel makes this a rare opportunity for investors seeking both income and development potential.
Don’t miss out on this exceptional investment and development opportunity in one of Florida’s most desirable markets. Contact Foresight Property Services today for a private showing or additional information.
Please do not disturb the tenant or make direct inquiries at the property; all communication and showings must be coordinated through Foresight Property Services. One of the partners is a Licensed Florida Real Estate Agent.
The restaurant property includes a 3,978 sq ft building situated on a 62,350 sq ft (1.43-acre) lot with a long-term tenant under a true NNN lease, offering reliable cash flow and minimal landlord responsibilities. The lease includes annual 3% rent increases for the duration of the term, ensuring consistent income growth year over year. The neighboring parcel totals 17,979 sq ft (0.41 acres) and presents a prime opportunity for new multifamily construction, with favorable zoning and strong surrounding demographics supporting continued residential demand.
Located in a thriving commercial corridor with excellent visibility and accessibility, this property benefits from consistent traffic, strong area growth, and proximity to major retailers, residential communities, and employment centers. The combination of a stabilized NNN asset and a ready to develop parcel makes this a rare opportunity for investors seeking both income and development potential.
Don’t miss out on this exceptional investment and development opportunity in one of Florida’s most desirable markets. Contact Foresight Property Services today for a private showing or additional information.
Please do not disturb the tenant or make direct inquiries at the property; all communication and showings must be coordinated through Foresight Property Services. One of the partners is a Licensed Florida Real Estate Agent.
TAXES & OPERATING EXPENSES (ACTUAL - 2025) |
ANNUAL |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$120,000
|
TAXES & OPERATING EXPENSES (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Net Operating Income | |
|---|---|
| Annual | $120,000 |
PROPERTY FACTS
| Price | $1,795,000 | Number of Properties | 2 |
| Price / SF | $451.23 / SF | Individually For Sale | 0 |
| Cap Rate | 6.69% | Total Building Size | 3,978 SF |
| Sale Type | Investment or Owner User | Total Land Area | 1.86 AC |
| Status | Active |
| Price | $1,795,000 |
| Price / SF | $451.23 / SF |
| Cap Rate | 6.69% |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 3,978 SF |
| Total Land Area | 1.86 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 116 Twin Lake Blvd, Lake Wales, FL 33853 | Land | 0.41 AC | - | - |
| 109 Highway 60 W, Lake Wales, FL 33853 | Retail | 3,978 SF | 1976 | - |
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CONTACTS
-
Manny Konstantinidis -
Eric Papadopolous -
Trifon Houvardas -
Foresight Property Services,LLC
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NNN Restaurant w/Adjacent Parcel
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