Office/Retail On High Traffic US 98 North

Super location and solid building for owner/user or investor on busy US 98 North. This is an 1,880 SF well maintained, block constructed property, split into two sides, with a covered breezeway in between, on .16 acres. The zoning classification is C-2, City of Lakeland.

The primary side comprises a professional office with wide open general space, and a centrally located conference/meeting room, a storage room, with one bathroom in the rear. The other side of the building is a long term tenant who runs an alteration and fashion business. Current rent is $850 per month or $15.45 PSF. This space is 680 SF and has two bathrooms. There is a 60 day out clause for either party. Current market rents are $20-$22 PSF.

4 parking spaces in the front of the property and 4 spaces in the rear, which can be accessed from US 98 or from an alleyway on Gibsonia Galloway Road. Excellent signage available.

• Office / Retail Property on busy US 98 North in Lakeland, FL
• 1,880 split into two sides - 1200 SF & 680 SF, the latter occupied by a long term tenant.
• Zoning C-2, City of Lakeland. Uses are plentiful, including most office and retail.
• The 1,200 SF side of the property is owner occupied. The owner will be consolidating their operation at their additional location and vacating this space.
• The 680 SF tenant portion of the property could be split into two units in the future, if desired. The current tenant occupies both sides.
• Current rent for tenant at $850 per month, or $15.45 PSF. Month to month, with 60 day out clause for both parties.
• Market rents $22-$24 PSF. Investor option could potentially derive $43,240 in rent. A NNN lease could easily be put in place, giving the property an attractive CAP rate.
• Excellent location at the corner of US 98 and Galloway Road, and only minutes from Interstate 4, restaurants, retail, the Lakeland Square Mall, and 15 minutes to downtown Lakeland. The daily traffic count is 54,000 vehicles.
• Property taxes - $3,150, Insurance $5,000.
• 3 bathrooms total, central air in the main unit, and 2 window units in the tenant space. A mini split unit could easily be installed here.
• Public water provider is by FGUA Services. Additional details available. Property is on a septic tank.
• 2 water meters and 3 electric meters available.
• 8 parking spaces, 4 off the US 98 entrance and 4 in the rear of the building.
• Tremendous signage, grandfathered on US 98.
• AADT - 54,500

For more information please visit: SVN Saunders Ralston Dantzler