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2536 US Highway 92
Lakeland, FL 33801
Vacant CVS (Dark) · Retail Property For Sale
Investment Highlights
- Former CVS Pharmacy with Drive-Thru, Offering Flexible Re-tenanting Potential for Retail, Medical, Restaurant, and Service Users.
- Freestanding 11,945 SF Building Situated on a 1.33-acre Parcel with Ample Parking
- Market Rents of $20-$24 PSF Provide a Compelling path to Increased Value and Stabilized Returns.
- Signalized Hard-corner Location on US-92 with Excellent Visibility and Approximately 34,000 Vehicles per day
- Strong Value-add Opportunity Through Lease-up, Owner-user Occupancy, or Redevelopment.
- Existing Drive-thru Infrastructure Appeals to QSR, Coffee, Pharmacy, Urgent Care, and Financial Institution Users.
Executive Summary
Positioned at The Signalized Hard Corner Of US-92 and North Combee Road in Lakeland, Florida, This Former CVS Pharmacy Presents a Rare
Value-Add And Repositioning Opportunity Within one of Central Florida's Most Dynamic Growth Corridors. The Property Benefits From Exceptional Visibility and Accessibility With Combined Traffic Counts Exceeding 49,600 Vehicles per day, Including Approximately 34,000 Vehicles Along US-92 and 15,600 Vehicles Along North Combee Road. The Freestanding Building Features Existing Drive-Thru Infrastructure, Ample Parking, and a Flexible Layout Well Suited For Medical, Retail, Restaurant, Financial, or Service-Oriented Users. Investors Have the Opportunity to Capitalize on Market Rental Rates Ranging From $20 To $24 Per Square Foot, Providing a Compelling Path Toward Significant Value Creation Through Re-Tenanting. The Immediate Trade Area Continues to Experience Steady Population Growth, With More Than 119,000 Residents and 144,000 Daytime Employees Within Five Miles of The Property
Value-Add And Repositioning Opportunity Within one of Central Florida's Most Dynamic Growth Corridors. The Property Benefits From Exceptional Visibility and Accessibility With Combined Traffic Counts Exceeding 49,600 Vehicles per day, Including Approximately 34,000 Vehicles Along US-92 and 15,600 Vehicles Along North Combee Road. The Freestanding Building Features Existing Drive-Thru Infrastructure, Ample Parking, and a Flexible Layout Well Suited For Medical, Retail, Restaurant, Financial, or Service-Oriented Users. Investors Have the Opportunity to Capitalize on Market Rental Rates Ranging From $20 To $24 Per Square Foot, Providing a Compelling Path Toward Significant Value Creation Through Re-Tenanting. The Immediate Trade Area Continues to Experience Steady Population Growth, With More Than 119,000 Residents and 144,000 Daytime Employees Within Five Miles of The Property
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
12,219 SF
Building Class
B
Year Built
2009
Price
$7,054,100 CAD
Price Per SF
$577.31 CAD
Cap Rate
8.81%
NOI
$621,544 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.33 AC
Opportunity Zone
Yes
Zoning
C-3 - Regional Commercial
Parking
44 Spaces (3.68 Spaces per 1,000 SF Leased)
Frontage
164’ on U.S. 92
Amenities
- Signage
Property Taxes
| Parcel Number | 24-28-16-187000-003001 | Improvements Assessment | $2,126,152 CAD |
| Land Assessment | $757,897 CAD | Total Assessment | $2,884,049 CAD |
Property Taxes
Parcel Number
24-28-16-187000-003001
Land Assessment
$757,897 CAD
Improvements Assessment
$2,126,152 CAD
Total Assessment
$2,884,049 CAD
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