Overview

Description

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.
Cell Tower Lease: Located on the southeast portion of the property on a 50’ x 117’ pad. The rent commenced in July 2014 and is a 5 year lease with (9) 5 year renewal terms. The initial rent was $21,000 per year with 3% annual increases. The listing price includes income from cell tower lease.

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