305 Main StLakeland, FL 33815

Property Details for 305 Main St

Year built

1953

Lot size

1.49 AC

Property type

Land

Property subtype

Commercial land

APN

242815000000014200

APU

242815000000014200

Description

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).

• Alternative Use

  Use

  Valuation

  Residential

  $21,639,810

  Hospitality

  $19,821,950

  Educational

  $16,491,629

  Medical

  $17,058,802

  Retail

  $25,653,646

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.0494

Longitude

-81.8967

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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