The subject property is a free standing convenience store/gas station located in a corner lot less than a mile West of the heart of Downtown Lakeland, Munn Park. "5 Points Food Mart" severs as a potential investment opportunity thanks to its ideal corner location directly on a three-way intersection, and within Lakeland's fast growing market.The neighborhood is being revitalized by the new hotel, and the recently renovated RP Funding Center. Also the newly announced Bonnet Springs Park nearby has currently broken ground, with an announced budget of $180,000,000 in future improvements!The Lakeland Housing Authority is also well under way with Phase 2 of Twin Lake Estates with 132 new apartments, directly across the lake from this same property. This property is in need of restoration and upgrading, in order to capture and retain the new traffic in the neighborhood. At the present time the property is leased on a month-to-month basis by a local operator who is paying $3,000 a month in rent, and who reports $34,000 to $35,000 per month in average store sales, and average gasoline sales of 3,500 gallons per month, lottery profits of $1,500 per month, and is subleasing the deli area for $700 per month.HighlightsGreat upside investment opportunity in a neighborhood which is truly being revitalized.Corner property at a three-way intersectionThe City is also currently planning on removing the three way traffic light here and replacing it with a roundabout.
