1815 Crystal Lake DrLakeland, FL 33801

Property Details for 1815 Crystal Lake Dr

Year built

1959

Lot size

0.77 AC

Property size (Sq ft)

16,928 SF

Zone code

O-1

Property type

Healthcare properties

Property subtype

Medical offices

APN

242829248100001010

APU

242829248100001010

Description

This exceptional 15,427-square-foot medical office building, situated on a 0.77-acre lot at 1815 Crystal Lake Drive in Lakeland, Florida (33801), presents a unique investment opportunity. Built in 1959 and renovated in 1997, this Class B property features a two-story structure with one suite encompassing the entire building. The entire 15,427 square feet is currently vacant, offering a blank canvas for a single tenant or the potential for subdivision (minimum divisible space is 4,195 square feet, with a maximum contiguous space of 4,195 square feet). The building includes elevators and is zoned O-1. Its prime location at the corner of Meadowbrook Ave. and Crystal Lake Drive offers convenient access to downtown Lakeland, Bartow, I-4 via the Polk Parkway, and surrounding communities. Lakeland's strategic location in central Florida, coupled with its business-friendly environment, proximity to major transportation routes, and access to a skilled workforce, makes this property an attractive investment. The property's concrete construction and existing medical office configuration make it ideal for a variety of healthcare uses. The APN is 24-28-29-248100-001010. This is a rare opportunity to acquire a fully vacant, sizable medical office building in a desirable Lakeland location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,494,845

  6.5%

  $3,226,011

  7%

  $2,995,582

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,091,561

  Geo Method

  $3,091,561

• Alternative Use

  Use

  Valuation

  Residential

  $4,000,254

  Hospitality

  $3,664,211

  Educational

  $3,048,580

  Medical

  $3,153,426

  Retail

  $4,742,236

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.0255

Longitude

-81.9282

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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