Verizon
Verizon | Lake Wales, FL | Low Rent | 6.50% CAP
Marketing description
Vero Capital Group is pleased to exclusively present the opportunity to acquire a Verizon Wireless property located in Lake Wales, Florida. The property is leased to Cellular Sales of Northern Florida, LLC, an Authorized Verizon Wireless Retailer, with the lease guaranteed by Cellular Sales of Knoxville, Inc., the nation’s largest Verizon Wireless retailer.
In 2026, the tenant executed a brand-new lease, reinforcing its long-term commitment to this location and the Lake Wales market. Further supporting the investment, Lennar is actively developing approximately 600 single-family homes and townhomes directly behind the property, which is expected to drive continued population growth and retail demand in the immediate area.
Investment highlights
BRAND NEW LEASE
The property is secured under a new 2026 lease with Cellular Sales of Northern Florida, LLC, one of Verizon’s premier authorized retailers. This long-term commitment underscores the tenant’s confidence in the Lake Wales market and the strength of this location.
NATION’S LARGEST VERIZON RETAILER
The lease is guaranteed by Cellular Sales of Knoxville, Inc., the nation’s largest Verizon Wireless authorized retailer, operating more than 700 locations across 40 states with annual revenues exceeding $2 billion.
STRONG RESIDENTIAL GROWTH PIPELINE
The property is surrounded by significant residential development, with more than 5,000 new homes planned, under construction, or recently completed in the immediate trade area. Notably, Lennar’s Hunt Club Grove community directly behind the site includes approximately 600 single-family homes and townhomes currently under construction.
Additional nearby developments include Hunt Club Grove South (542 units), Taylor Groves (108 homes, completed 2025), and multiple active communities such as Sunset Reserve (349 homes), Ridgecrest (1,020 homes planned), and Groves at Orchard Hills (915 homes approved).
BELOW MARKET RENT
Below market rent with Verizon paying $20 PSF. With Verizon holding just one 5-year option remaining, an investor has a near-term opportunity to reset rents to market.
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