410 Lionel WayDavenport, FL 33837

Property Details for 410 Lionel Way

Year built

2011

Lot size

3.28 AC

Property size (Sq ft)

49,136 SF

Property type

Medical offices

Property subtype

Medical centers

APN

272631709002000112

APU

272631709002000112

Description

This exceptional 8.01-acre site in Davenport, Florida, presents a prime multifamily development opportunity. Located at 410 Lionel Way, Polk County (APN 27-26-31-70-9002-000-111), this property boasts convenient access to I-4, providing easy commutes to Orlando's major attractions and employers, including Disney World, Universal Studios, and SeaWorld. The site is currently approved for a 240-unit multifamily development, with potential expansion to 285 units utilizing an additional 1.5 acres. Furthermore, up to 15,400 square feet of professional office space is permissible. Situated in a rapidly growing area of northeast Polk County, the property is within walking distance of AdventHealth, a 200-bed hospital with expansion plans, and surrounded by thriving commercial and residential developments. Davenport's population has more than tripled since 2010, reflecting the area's robust growth trajectory. This location offers unparalleled access to major roadways, employment centers, and recreational amenities, making it an ideal investment for high-density residential development. The property's strategic location and development approvals make it a compelling investment opportunity in a high-growth market. The zip code is 33837.

• CAP approach

  CAP return

  Valuation

  6%

  $16,275,500

  6.5%

  $15,023,500

  7%

  $13,950,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,073,000

  Geo Method

  $7,715,830

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $28,462,500

  Retail / Commercial

  $14,813,800

  Mixed-Use / Specialty

  $14,933,000

  Hospitality / Lodging

  $11,179,900

  Institutional / Educational

  $15,585,800

  Residential Income

  $18,235,400

  Multifamily

  $20,916,700

  Automotive / Energy

  $13,359,300

  Parking / Income-Based Land

  $4,440,140

  Restaurant / Food Service

  $8,134,000

  Healthcare / Senior Housing

  $15,137,100

Location Insight

City

Davenport

County

Polk

State

Florida

Latitude

28.1787

Longitude

-81.6418

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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