SRS Real Estate Partners announced today it has completed the $4.29 million ground lease (land ownership) sale of a Circle K property located at 3810 County Line Road in Lakeland, FL.Built in 2025, the 5,200-square-foot (sf) property is situated on 4.3 acres and has just under 15 years remaining on its absolute triple net corporate-guaranteed ground lease.
SRS Capital Markets Senior Managing Principal Patrick Nutt and Executive Vice President & Principal William Wamble represented the seller, a Florida-based developer. The buyer was a California-based private investor who was in a 1031 exchange. The closing cap rate was 5.25%.
“This was a management-free investment opportunity that attracted investors due to its oversized parcel, brand name tenancy and location in Polk County, the fastest-growing county in Florida,” said Nutt. “The property is also surrounded by more than one million square feet of industrial/distribution facilities that bolster the daytime population and customer volume for the store.”
Last year, SRS Capital Markets completed more than $3.5 billion in deal volume comprised of 950 transactions across the nation. SRS currently has in excess of 845 properties actively on the market with a market value surpassing $3.7 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is celebrating 40 years of going the extra mile for its clients. A leader in consumer-driven real estate, SRS provides commercial real estate solutions across retail, industrial, and capital markets. Headquartered in Dallas with 30 offices nationwide, the firm measures its success by the achievement of its clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.