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Lakeland Retail Center, Lakeland , FL

Lakeland Retail Center

Price $3,520,000
Cap Rate 6.00%
NOI $211,158
Lease Term Various
Lease Type Various
Rental Increases Various
Year Built 2018
Building Size 6,365 SF
Lot Size 0.79 acres (34,412.4 SF)
Status Available
Lead Broker Information Michael T. Yuras, CCIM
Cushman & Wakefield
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Ryan Forsyth
Cushman & Wakefield
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Vincent Aicale
Cushman & Wakefield
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696


Scott Crowle
Senior Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Investment Highlights

100% LEASED FOUR-TENANT RETAIL ASSET
» Long-term leases with scheduled rental increases in primary term and option periods
» Multi-tenant center allows for investment diversification

DENSE RETAIL CORRIDOR WITH EXTREMELY HIGH TRAFFIC COUNTS
» Excellent visibility and access to 35,000 vehicles per day on Harden Boulevard
» Outparcel to Target and Publix-anchored shopping center, which also features Burger King, SunTrust Bank, UPS Store, and other well-known tenants
» Nearby retailers include IMAX, Belk, Starbucks, Kohl’s, Residence Inn, Courtyard by Marriott, Burger King, Olive Garden, Moe’s, Longhorn Steakhouse, and many others

CENTRAL LOCATION WITH STRONG CUSTOMER BASE IN SURROUNDING AREA
» Close to several schools, including Lakeland Christian School, which has a total enrollment of almost 1,100 students
» Located minutes from Lakeland Linder International Airport
» 143,414 residents live within a five-mile radius of the property
» There are 72,729 daytime employees within five (5) miles
» Affluent surrounding area, with an average household income of $82,427 within one mile of the property



Property Description

The property is conveniently located immediately off Harden Boulevard, with excellent visibility and access to 35,000 vehicles per day. Located in a dense retail corridor, the property is outparcel to a Target and Publix-anchored shopping center, which also features Burger King, RaceTrac, UPS Store, SunTrust Bank, and more. To the west of the property is Lakeside Village tenanted by Belk, Kohl’s, Bed Bath & Beyond, Starbucks, Cold Stone Creamery and many others. Other notable retailers in the area include Olive Garden, Moe’s Southwest Grill, Chili’s, Residence Inn, and Courtyard by Marriott.

The property is located approximately four miles from Downtown Lakeland and just east of Tampa. It is close to several schools, including Lakeland Christian School, which has a total enrollment of almost 1,100 students. It is also located just down the street from Lakeland Linder International Airport, which during SUN n’ FUN Fly-In, a six day fly in airshow, becomes the busiest airport in the world. The area has a strong daytime population, with 72,729 daytime employees working within a five-mile radius of the property. Additionally, the property is surrounded by dense residential neighborhoods, with 143,414 residents living within five miles of the property, providing a sizeable customer base.

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