For Sale

Burger King Lakeland, FL

3212 US Highway 98 N | Lakeland, FL 33805-2144, US

price$3,200,000
property typeCommercial Sale
year built1979

highlights

• Burger King Ground Lease with Percentage Rent Participation
• Lease Through 2029 with 10 Year Renewal Option Through 2039
• $3,200,000 Offering Price | 4.95% Cap Rate
• Demonstrated Redevelopment Interest Above Asking Price
• Tenant Rejected Cash for Keys Proposal Without Counteroffer
• Approximately 1.19 Acres Along US Highway 98
• Immediate Access to Interstate 4
• Located Within Lakeland Midtown CRA District
• Directly Across from New CarMax Development
• Strong National Retail Co Tenancy and Consumer Demand
• Strategic Tampa-Orlando Growth Corridor Location
• Long Term Land Appreciation and Redevelopment Potential
• Rare Combination of Current Income and Future Upside

property
details

STATUSActive
SALE PRICE PER UNIT$3,200,000
YEAR BUILT1979
PROPERTY TYPECommercial Sale
BUILDING SIZE3,337 SF
LOT SIZE1.1931 acres
CAP RATE4.95%
SALE PRICE$3,200,000
OCCUPANCY %100%
ZONINGC2
DAYS ON MARKET14

property
description

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 1.19 acres along the US Highway 98 and Interstate 4 corridor, the property is leased through 2029 and includes a 10 year renewal option extending through 2039. The lease structure provides investors with contractual rental income while also benefiting from recurring percentage rent override payments generated by the tenant's strong operating performance. The property's long term strategic value has already been validated by sophisticated third party redevelopment interest. The owner previously received an acquisition proposal exceeding the owner's asking price from a redevelopment focused buyer who viewed the underlying real estate as more valuable than its existing use. The proposal included an attractive cash for keys offer to the tenant in an effort to obtain site control for redevelopment. The tenant declined the proposal without submitting a counteroffer, demonstrating a strong commitment to the location while simultaneously validating the property's underlying redevelopment value. Located within Lakeland's Midtown CRA District, the property benefits from continued public and private investment throughout the surrounding trade area. Additional institutional confidence is evidenced by the recently developed CarMax directly across the street and the continued expansion of national retailers throughout the corridor. 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 offering provides investors with a rare opportunity to acquire both a performing net lease asset and a strategic long term land position within one of Florida's most dynamic growth markets. This is more than a passive NNN investment. It is a strategic real estate position offering immediate income, percentage rent participation, future redevelopment optionality and long term value creation potential.

location
description

3212 US Highway 98 N | Lakeland, FL 33805-2144, US

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 is surrounded by a dense concentration of national retailers including Target, Lowe's, Home Depot, Starbucks, McDonald's, Dunkin', Krispy Kreme and numerous additional national brands. 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.`

Mercedes Martin

Mercedes Martin

FL #bk3257231
(954) 881-9580

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