This exceptional core investment opportunity presents a fully leased, 13,660-square-foot flex/retail building situated in the heart of downtown Lakeland, Florida. The property, boasting a 7.25% cap rate, is comprised of five tenants under NNN leases with approximately four to five years remaining and built-in 4% annual rent increases. The single-story, 1924-built structure underwent a complete renovation in 2024, featuring a brand-new roof and modern urban design elements. The interior showcases high (18-foot) ceilings, exposed brick, exposed air ducts, and fully air-conditioned spaces. The building includes 30 on-site parking spaces, supplemented by ample street parking. Tenants include a 4,725-square-foot gym (fully renovated in 2023 with showers), a non-profit office/creative studio, a coffee shop and roaster, a dance studio (fully renovated in 2024), and a bike retail shop. The 0.44-acre lot is zoned C-6 (Commercial) and benefits from its prime location on West Main Street, minutes from the Sports & Events District and the new Bonnet Springs Park (opened 2022). This vibrant downtown location offers easy access to I-4 and the Polk Parkway, and is within walking distance of numerous restaurants, hotels, bars, and shopping options, making it an ideal investment for long-term growth and stability. The property's APN numbers are 232813068500007011, 232813068500007012, 232813068500007021, 232813068500007022, 232813068500006000, and 232813068500013010. The asking price is $3,100,000 ($226.94/SF).
Highlights
Fully leased 13,660 SF flex/retail building in downtown Lakeland, FL.
Five tenants under NNN leases with 4-5 years remaining and 4% annual rent increases; 7.25% cap rate.
Recently renovated (2024) with new roof, high ceilings, and modern design.
Prime downtown location near restaurants, hotels, and entertainment; walkable to amenities.
Excellent access to I-4 and Polk Parkway; situated between Tampa and Orlando.
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Contacts
Alex Delannoy, SIOR
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305 Main St, Lakeland, Florida, 33815
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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305 Main St
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