2425 Memorial BlvdLakeland, FL 33815

Property Details for 2425 Memorial Blvd

Year built

1985

Lot size

0.92 AC

Property size (Sq ft)

5,150 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

232810000000022010

APU

232810000000022010

Description

This 0.92-acre property, located at the highly visible northeast corner of Memorial Boulevard (25,000 vehicles per day) and Chestnut Road in Lakeland, Florida, presents a unique investment opportunity. The 2,600 square foot building, constructed in 1985, sits on a 40,024 square foot lot and is classified as a Class B retail space. Importantly, the property cannot be used as a gas station or convenience store. Its prime location offers excellent frontage and visibility on both streets, benefiting from its proximity to Interstate 4 (less than one mile east with a full interchange) and Kathleen High School (over 2,000 students). A prominent pylon sign on Memorial Boulevard enhances visibility. The asking price is $850,000, translating to $326.92 per square foot. The fee-simple ownership provides complete control and potential for diverse redevelopment options, given its strategic location and high traffic counts. The property's zoning and permitted uses should be independently verified. This presents a compelling opportunity for investors seeking a high-visibility retail space in a densely populated area with significant traffic flow. The property's past use as a gas station and convenience store does not restrict future uses, provided they comply with local zoning regulations.

• CAP approach

  CAP return

  Valuation

  6%

  $1,562,956

  6.5%

  $1,442,729

  7%

  $1,339,677

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,370,172

  Geo Method

  $2,370,172

• Alternative Use

  Use

  Valuation

  Residential

  $1,216,996

  Hospitality

  $1,114,762

  Educational

  $927,469

  Medical

  $959,366

  Retail

  $1,442,729

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.0553

Longitude

-81.9939

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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