Office/Retail On High Traffic US 98 North

5508 US Highway 98 N, Lakeland, FL 33809

  • For Sale $495,000
  • Property Type Office - General Office
  • Property Size 1,880 SF
  • Units 1
  • Lot Size 0.16 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1978
  • Date Updated Oct 20, 2024
This commercial property is located on US 98 North in Lakeland at Galloway Road, approximately 2 ± miles from I-4.Super location and solid building for owner/user or investor on busy US 98 North. This is an 1,880 SF well maintained, block constructed property, split into two sides, with a covered breezeway in between, on .16 acres. The zoning classification is C-2, City of Lakeland. The primary side comprises a professional office with wide open general space, and a centrally located conference/meeting room, a storage room, with one bathroom in the rear. The other side of the building is a long term tenant who runs an alteration and fashion business. Current rent is $850 per month or $15.45 PSF. This space is 680 SF and has two bathrooms. There is a 60 day out clause for either party. Current market rents are $20-$22 PSF. 4 parking spaces in the front of the property and 4 spaces in the rear, which can be accessed from US 98 or from an alleyway on Gibsonia Galloway Road. Excellent signage available.

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Attachments

Highlights

  • Office / Retail Property on busy US 98 North in Lakeland, FL
  • 1,880 split into two sides - 1200 SF & 680 SF, the latter occupied by a long term tenant.
  • Zoning C-2, City of Lakeland. Uses are plentiful, including most office and retail.
  • The 1,200 SF side of the property is owner occupied. The owner will be consolidating their operation at their additional location and vacating this space.
  • The 680 SF tenant portion of the property could be split into two units in the future, if desired. The current tenant occupies both sides.
  • Current rent for tenant at $850 per month, or $15.45 PSF. Month to month, with 60 day out clause for both parties.
  • Market rents $22-$24 PSF. Investor option could potentially derive $43,240 in rent. A NNN lease could easily be put in place, giving the property an attractive CAP rate.
  • Excellent location at the corner of US 98 and Galloway Road, and only minutes from Interstate 4, restaurants, retail, the Lakeland Square Mall, and 15 minutes to downtown Lakeland. The daily traffic count is 54,000 vehicles.
  • Property taxes - $3,150, Insurance $5,000.
  • 3 bathrooms total, central air in the main unit, and 2 window units in the tenant space. A mini split unit could easily be installed here.
  • Public water provider is by FGUA Services. Additional details available. Property is on a septic tank.
  • 2 water meters and 3 electric meters available.
  • 8 parking spaces, 4 off the US 98 entrance and 4 in the rear of the building.
  • Tremendous signage, grandfathered on US 98.
  • AADT - 54,500

Contacts

broker

Craig Morby

SVN | Saunders Ralston Dantzler

Location

Getting Around

  • Walk Score ®

    58/100 Somewhat Walkable

  • Bike Score ®

    46/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Lakeland, FL
  • Neighborhood Meadow View Lake
  • Zip Code 33809
  • Market Tampa St Petersburg Clearwater

Points of Interest

  • Lakeland

    4.89 miles

  • Murphy USA

    0.28 miles

  • 7-Eleven

    0.46 miles

  • Lakeland Supercharger

    1.11 miles

  • Hess

    1.47 miles

  • Exxon

    1.66 miles

  • BP

    1.86 miles

  • Sunoco

    1.98 miles

  • Citgo

    2.26 miles

  • Mobil

    7.19 miles

  • Gow B. Fields Park & Ride

    2.12 miles

  • Parking Lot R

    5.79 miles

  • Parking Lot BB

    5.80 miles

  • Parking Lot B

    5.84 miles

  • Parking Lot C

    5.87 miles

  • Parking Lot J

    6.02 miles

  • Economy Parking

    7.98 miles

  • Holiday Inn Express & Suites Lakeland North - I-4

    1.57 miles

  • Days Inn & Suites by Wyndham Lakeland

    1.63 miles

  • Crestwood Suites-Lakeland

    1.63 miles

  • Hampton Inn Lakeland

    1.65 miles

  • Stayable Suites Lakeland

    1.69 miles

  • Sleep Inn & Suites

    1.69 miles

  • Baymont Lakeland

    1.70 miles

  • La Quinta Inn & Suites Lakeland East

    1.70 miles

  • La Quinta Inn & Suites Lakeland West

    1.83 miles

  • Comfort Inn & Suites

    1.83 miles

  • Wendy's

    0.31 miles

  • Charleys Philly Steaks

    0.34 miles

  • DQ Grill & Chill

    0.39 miles

  • McDonald's

    0.67 miles

  • Golden Corral

    0.75 miles

  • Long John Silver's

    1.09 miles

  • Taco Bell

    1.09 miles

  • Checkers

    1.14 miles

  • Outback Steakhouse

    1.26 miles

  • Chick-fil-A

    1.33 miles

  • R Clem Churchwell Elementary School

    0.63 miles

  • Dr NE Roberts Elementary School

    1.22 miles

  • Edgar L. Padgett Elementary School

    1.29 miles

  • Lake Gibson Middle School

    1.62 miles

  • Lake Gibson High School

    1.76 miles

  • Sleepy Hill Middle School

    1.83 miles

  • Sleepy Hill Elementary School

    1.84 miles

  • North Lakeland Elementary School

    2.27 miles

  • Griffin Elementary School

    2.34 miles

  • Lakeland College of Business

    2.45 miles

Frequently Asked Questions

How much does Office/Retail On High Traffic US 98 North cost?

The space currently listed for sale at Office/Retail On High Traffic US 98 North asks for $495,000.

What is the total square footage of Office/Retail On High Traffic US 98 North?

Office/Retail On High Traffic US 98 North totals 1,880 square feet.

When was this property built?

Office/Retail On High Traffic US 98 North was built in 1978.

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Contact Listing Broker

broker

Craig Morby

SVN | Saunders Ralston Dantzler