1605 Memorial BlvdLakeland, FL 33815

Property Details for 1605 Memorial Blvd

Year built

1964

Lot size

0.45 AC

Property size (Sq ft)

1,950 SF

Zone code

C-2

Property type

Car washes

APN

232811033500009010

APU

232811033500009010

Description

This exceptional 2,910 square foot retail property, located at 1605 W Memorial Blvd in Lakeland, Florida (33815), presents a lucrative investment opportunity. Situated on a 0.45-acre lot (APN: 23-28-11-033500-009010), this single-story, 1964-built building boasts a highly desirable C-2 zoning designation. Currently configured as an auto shop, including a car wash and detailing business (the business itself is not included in the sale), the property also features a small office and storage shed. The asking price is $455,000, translating to $171.82 per square foot. Its prime location at a signalized corner ensures high visibility and significant daily traffic counts, making it ideal for a variety of automotive-related or other compatible businesses. The property's existing infrastructure provides a solid foundation for immediate occupancy or potential redevelopment. This owner-user investment presents a rare chance to acquire a well-positioned commercial property in a thriving Lakeland market. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $591,799

  6.5%

  $546,276

  7%

  $507,256

• Comparable approach

  Method

  Valuation

  Relative Method

  $897,444

  Geo Method

  $897,444

• Alternative Use

  Use

  Valuation

  Residential

  $460,804

  Hospitality

  $422,094

  Educational

  $351,177

  Medical

  $363,255

  Retail

  $546,276

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.0552

Longitude

-81.9806

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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