Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turnkey Restaurant Space Title is generated by Realmo AI

    1046 MARTIN L KING JR Ave, Lakeland, FL 33805

    View on Map
    Claim this Listing
    New
    For Sale
    $400,000

    Turnkey restaurant-ready space with included equipment, two customer bathrooms, and a layout built for guest flow.

    Type:Commercial
    Property size:
    2,400 SF
    Price / SF:
    $166/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 5:05 am

    Property Features for 1046 MARTIN L KING JR Ave

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    Yordanka Henson

    Listing agent Yordanka Henson License #3374742

    Listing office

    Listing date Jun 3, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Yordanka Henson

    HighLights

    • 2,400 sq. ft. commercial space in Lakeland built in 1986
    • Former restaurant space with appliances included and equipment included with purchase
    • Two customer bathrooms for guest convenience
    • Available for lease at $4,000/month for added flexibility
    • BikeScore 76 (very bikeable) and walkScore 67 (somewhat walkable)

    Overview

    This property is a 2,400 square foot commercial space formerly designed for restaurant use and offered in turnkey condition. It includes essential appliances and all equipment is stated to be included and to stay with the purchase, supporting an immediate start for a food service concept. The interior includes a layout intended to create a welcoming flow for patrons and is served by two bathrooms for customer convenience.

    Located at 1046 Martin L King Jr Ave in Lakeland, Florida, the space is described as being positioned in a prime, high-traffic area. The listing also notes moderate walkability and very bikeable access, which can be useful for operators planning for foot-traffic and convenient access.

    For buyers or operators seeking a ready-to-open food service location, the existing restaurant buildout and included equipment can reduce upfront setup time compared with a raw shell. The property is presented as suitable for a restaurant, café, or bakery based on the former restaurant design and the turnkey presentation. The seller also indicates the space is available for lease, providing flexibility for tenants evaluating a near-term operating start.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $44.6k $18.60
    − Vacancy −$3.0k −$1.26
    EGI $41.6k $17.34
    − OpEx −$10.4k −$4.33
    NOI $31.2k $13.00
    2,400 SF · lease $18.60/SF/yr · vacancy 6.80% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $445.8K
    $390.0K – $520.1K (±1% cap)
    NOI $31,203 @ 7.0% cap · market cap 7.80%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $576.7K
    $504.7K – $672.9K (±1% cap)
    NOI $40,372 @ 7.0% cap · market cap 10.09%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Uncle Apps Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • China Buffet — 901 E Memorial Blvd, Lakeland, FL 33801
    • Hibachi Buffet — 901 E Memorial Blvd, Lakeland, FL 33801

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9616979
    Latitude
    28.0565411

    Nearby Similar for Sale

    • $799,000
      3,848 SF

      Freestanding Retail Building with Fenced Yard

      Freestanding, air-conditioned retail building on a corner-adjacent corridor with ADA restroom, ramp access, and fenced rear yard.
      610 N COMBEE ROAD, LAKELAND, FL 33801
      View Details
    • $995,000
      4,080 SF

      Highway Frontage Mixed-Use Property

      High-visibility commercial property with office/retail space and outdoor parking.
      4930 US HIGHWAY 92 E, LAKELAND, FL 33801
      View Details
    • $829,900
      3,617 SF

      New Duplex in Lakeland, FL

      New construction duplex with income potential near Downtown Lakeland.
      1031 E LIME STREET, LAKELAND, FL 33801
      View Details
    • $5,500,000
      22,500 SF

      Lakeland Industrial Flex Space Available

      22,500 SF available with modern office and air-conditioned warehouse.
      3025 WHITTEN RD, Lakeland, FL 33811
      View Details
    • $569,000

      Lakeland Commercial Property Investment Opportunity

      Prime commercial property near Florida Avenue in Lakeland, Florida.
      305 & 309 W MEMORIAL BOULEVARD, LAKELAND, FL 33801
      View Details
    • $675,000
      4,056 SF

      Lakeland Quadruplex: Income Opportunity

      Income-producing quadplex in Lakeland, generating approximately $70,000 annual gross rental income.
      1962 CRYSTAL GROVE DRIVE, LAKELAND, FL 33801
      View Details
    • $750,000
      8,591 SF

      Lakeland Assembly Building For Sale

      Income-producing property with development potential in Lakeland, Florida.
      4626 S PIPKIN ROAD, LAKELAND, FL 33811
      View Details
    • $1,500,000
      3,192 SF

      Turnkey Restaurant and Bakery Opportunity

      Restaurant and bakery in Lakeland, ready for immediate re-opening.
      830 E MAIN STREET, LAKELAND, FL 33801
      View Details
    • $540,000
      2,275 SF

      Remodeled Duplex in Growing Lakeland

      Income-producing duplex with modern upgrades, ideal for investors or owner-occupants.
      1134-1136 GILMORE AVENUE, LAKELAND, FL 33805
      View Details
    • $2,900,000
      24,359 SF

      Industrial Facility on Commercial Corridor

      Industrial facility with warehouse space, fabrication areas, and laydown space.
      3145 US HIGHWAY 92 E, LAKELAND, FL 33801
      View Details
    • $450,000
      1,655 SF

      Zoned Office Building with Fenced Yard

      Office-zoned property with reliable HVAC, a newer metal roof, and a fully fenced yard for secure operations.
      313 W HIGHLAND DRIVE, LAKELAND, FL 33813
      View Details
    • $599,900
      2,624 SF

      Income-Producing Quadplex Near FSC

      Fully occupied Lakeland quadplex near Florida Southern College.
      201 ARIANA STREET, LAKELAND, FL 33803
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Turnkey restaurant-ready space with included equipment, two customer bathrooms, and a layout built for guest flow.
    Where is this conventional restaurant located?
    The property is located at 1046 MARTIN L KING JR Ave Lakeland, FL.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: 2,400 sq. ft. commercial space in Lakeland built in 1986; Former restaurant space with appliances included and equipment included with purchase; Two customer bathrooms for guest convenience
    (813) 464-0857
    We can help!
    Listing Contact
    Yordanka Henson
    Real Estate License ID: 3374742
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1046 MARTIN L KING JR Ave, Lakeland, FL 33805
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!