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26642873
26642874

1937 E Memorial Blvd, Lakeland, FL 33801

AG
SL3419600
Keller Williams on The Water
Listed by Keller Williams on The Water
$648,000
283 days on market
Updated 70 days ago

E Memorial Freestanding High Visibility Property

Details
APN 24-28-17-193000-021120
Property Type Retail
Sub Type Storefront
Square Footage 2,200
Net Rentable (SqFt) 2,200
Units 2
Cap Rate 8.72%
NOI $56,500
Occupancy 100%
Tenancy Multi
Year Renovated 1975, 2001, 2022
Buildings 1
Stories 1
Acreage 0.780
Zoning C-2
Parking Spaces 16 spaces
Parking Per SqFt 7.27
Investment Type Net Lease
Occupancy Date 01/01/2026
Sale Condition For sale by owner

Retail | 8.72% CAP | 2,200 SqFt

Marketing description

High visibility (37k traffic/day) freestanding property with great truck access and tons of parking space off growing area on E Memorial Blvd in Lakeland! This Turn Key property is ready to go and already profitable with 4 tenants (including owner in one section), yet has options for new owner to use space right away if desired! Corner of property includes 3 tractor trailers and metal building for additional storage space! Main showroom is leased to reliable-rent paying smoke shop business who have done significant tenancy improvements, as well as many other renovation improvements to the property in the past 3 years including:

--New Roof (2022) by licensed contractor and proper permitting which included joist assessment and reinforcement throughout building, new sheeting under roof layers where water damaged, and new flashing where needed.

--Bathroom layout redesigned (2022) by architect and renovated by licensed general contract including new drawings and proper permitting, allowing retail business to comply with contra d country requirements for opening.

--Licensed plumbing upgrades (2022) to property including connecting water line to city utility.

--Major cosmetic improvements including new ceiling tiles, painting and carpentry throughout showroom (2022).

--Power washing and painting exterior of building (2022). Front of building has been painted multiple times by tenants since then.

--Chain Link Fence construction (2025) separating parking lot from back yard area, including 4 new access gates to yards on both sides of the building and new gate in area protecting air conditioning unit. ***NOTE-- PHOTOS IN THIS PROMOTION MAY BE OUTDATED AND NOT SHOW THE NEW CHAINLINK FENCE***

-- Showroom improvements by new tenant (2025) electrical switches, plugs, and lights added and upgraded through showroom, new flooring, new slatted walls, new security bars installed over windows and doors, retail display casing throughout, yard security light, security system with alarm and cameras, and more.

--ACT Environmental Phase 1 Assessment (2021) ensuring environmental due diligence to property, no findings of concern.

Investment highlights

—Great retail visibility, appx 37000+- vehicles, along E Memorial Blvd

—Excellent truck access and large, dual access parking area

—Freestanding building without HOA

Listing Contacts

AG
SL3419600
Keller Williams on The Water
Listed by Keller Williams on The Water

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$56,500.00
$4,708.33/mo

Valuation Metrics

0
DSCR
8.72%
Cap Rate
8.72%
ROI

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