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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
32632911
32632906

550 Commerce Drive, Lakeland, FL 33813

VIP Executive Realty, LLC
Listed by VIP Executive Realty, LLC
$5,250,000
21 days on market
Updated 21 days ago

550 Commerce Drive

Details
Property Type Office, Special Purpose
Sub Type Traditional Office, Government
Square Footage 15,223
Net Rentable (SqFt) 15,223
Units 7
Cap Rate 5.75%
NOI $301,942
Occupancy 100%
Tenancy Single
Lease Type Gross
Lease Term 5
Lease Expiration 05/31/2028
Remaining Term 2
Rent Bumps Yes
Lease Options No
Price per SqFt $345
Class B
Year Built 2008
Year Renovated 2021
Buildings 1
Acreage 2.710
Parking Spaces per 1,000 sq ft
Investment Type Institutional
Ground Lease No

GSA Leased Office Asset in Lakeland

Marketing description

The property is a 15,322 sf One-Story masonry office building, built in 2008 on 2.71 gross acres, situated in Polk county Florida. Ample on-site parking and storm water management/green area with convenient access to Route 37, S. Florida Avenue. The property benefits from a stable tenancy, predictable cash flow, and contractual rent escalations, making it well-suited for investors seeking durability and downside protection.

This offering presents a rare opportunity to acquire a mission-critical asset leased to the U.S. General Services Administration (GSA), providing investors with secure, long-term income backed by the full faith and credit of the federal government.

Strategically positioned within a growing Florida market, the asset offers both income stability and potential long-term upside supported by favorable regional fundamentals.

This investment is particularly attractive for buyers seeking a passive, low-management asset with institutional-grade tenancy. The strength of a GSA lease, combined with the property’s functional design and established occupancy, creates a compelling opportunity to secure a high-quality government-backed income stream.

The Tenant has invested over $800,000 improving the property over the last 6 years, therefore there is a high likelihood they will desire renewal, but they have no option in the lease, leaving it up to the investor to renegotiate or reposition the asset as medical use/surgery center for the greatest return.

Investment highlights

  • Stable tenancy
  • Predictable cash flow
  • Contractual rent escalations
  • Current lease expires May 2028
  • High renewal probability

Listing Contacts

VIP Executive Realty, LLC
Listed by VIP Executive Realty, LLC

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$301,942.00
$25,161.83/mo

Valuation Metrics

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DSCR
5.75%
Cap Rate
5.75%
ROI

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