Burger King Lakeland,FL

3212 US Highway 98 N, Lakeland, FL 33805

Accepting Offers
Burger King Lakeland,FLBurger King Lakeland,FLBurger King Lakeland,FLBurger King Lakeland,FL
Asking Price

$3,200,000

Burger King Lakeland,FL

3212 US Highway 98 N, Lakeland, FL 33805

Asset Type: Real Estate

Estate: Fee Simple

Year Built: 1979

Land Area: 1.19 Acres

Property Size: 3,337 SF

Property Type: Retail

Occupancy %: 100

Year Renovated: 2016

Number of Units: 1

Investment 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

Burger King | Interstate 4 Corridor Land Play | High Performing NNN Investment & Ideal Future Redevelopment Opportunity

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.

Sale FAQs

Investment Sales Broker

Mercedes Martin

Mercedes Martin

eXp Commercial

FL License: bk3257231

Phone: XXXXXXXXXX

Email: XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

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