5.30+- Acres Vacant Land in Lakeland

Vacant Land for Sale
Catylist Listing ID: 28595358
Property Subtypes: Office, Retail-Pad
Gross Land Area: 5.30 Acres
Sale Price: $1,200,000
Unit Price: $226,415 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/2/2017

Overview / Comments

5.30± acres of land in Lakeland, FL located off of Lakeland Hills Blvd & I-4. There is a cell tower on the southeast corner of the site that leases a 50’ x 117’ pad (more details of the cell tower lease below). There are some wetlands, approximately 1.72± acres, on the northern portion of the site however the seller has talked with consultants that have said there could be potential
opportunity to mitigate the wetlands. There is also an approximately 0.30± acre FDOT drainage ditch that runs through the property and if needed it could potentially be relocated to accommodate development. Seller would consider subdividing the parcel.

Location: 4141 Lakeland Hills Boulevard, Lakeland, FL 33805. Located in Polk County off of Lakeland Hills Boulevard and I-4.

Access: Currently the parcel can be accessed from Lakeland Hills Boulevard through a right-in and right-out access point that is shared with the Arbor Oaks Assisted Living Facility. There are plans to have a separate access point for the northern parcel off of Lakeland Hills Boulevard that will provide right-in and right-out access.

Size: 5.30± Acres (Approximately 3.58± acres of uplands)

Zoning: C-2 Commercial

Utilities: At site

Cell Tower Lease: Located on the southeast portion of the property on a 50’ x 117’ pad. The lease commenced in May 2014 and is a 5 year lease
with (9) 5 year renewal terms. The rent is $21,000 per year with 3% annual increases.

Asking Price: $1,399,000 (Includes income from cell tower lease)

Additional Details

Nearest MSA: Lakeland-Winter Haven
County: Polk
Tax ID/APN: 242731000000032010

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,671 56,460 121,204
Median Age: 31.01 40.36 38.89
Households: 1,885 22,397 46,741

Contact

Photograph of Listing Agent

William A. Eshenbaugh

Eshenbaugh Land Company FGCAR CIE Member
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