3308 Cleveland Heights BlvdLakeland, FL 33803

Property Details for 3308 Cleveland Heights Blvd

Year built

1982

Lot size

1.36 AC

Property size (Sq ft)

5,394 SF

Zone code

C-1

Property type

Office properties

Property subtype

Office buildings

APN

242831261000000361

APU

242831261000000361

Description

This exceptional two-story office building, totaling 11,637 square feet, is situated on a 1.35-acre lot in Lakeland, Florida, boasting a desirable location on Cleveland Heights Boulevard, overlooking a golf course and trail. The property, built in 1982 and renovated in 2005, offers a Class B designation and features 5 suites, with a minimum divisible space of 654 square feet and a maximum contiguous space of 11,637 square feet. Currently, 7,990 square feet are vacant, presenting a significant opportunity for lease. The building includes convenient amenities such as an elevator and ample parking with 58 spaces. Its strategic location near Polk Parkway provides easy access to Tampa, Orlando, and Winter Haven. The property benefits from high visibility, with signage opportunities and exposure to 16,700 cars daily. The versatile space is suitable for various uses, including general office, medical, corporate headquarters, call centers, back-office operations, or non-profit organizations. A prime example is Suite 102, a 2,530-square-foot space featuring two large private offices/conference rooms, two open offices, a spacious open area, two restrooms, and a cafeteria. The surrounding area offers a wealth of amenities, including hotels, restaurants, retail establishments, fitness centers, banks, and coffee shops. The property's zoning is C-1, and it's situated within a strong demographic area, less than 15 minutes from downtown Lakeland, I-4, Plant City, Bartow, Mulberry, County Line Road, Auburndale, and west Winter Haven.

• CAP approach

  CAP return

  Valuation

  6%

  $1,113,610

  6.5%

  $1,027,948

  7%

  $954,523

• Comparable approach

  Method

  Valuation

  Relative Method

  $985,106

  Geo Method

  $985,106

• Alternative Use

  Use

  Valuation

  Residential

  $1,274,656

  Hospitality

  $1,167,578

  Educational

  $971,411

  Medical

  $1,004,819

  Retail

  $1,511,084

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.0037

Longitude

-81.9483

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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