Corner Retail and Office
1203 MAYFLOWER DRIVE Lakeland, FL 33810
New
For Sale
$270,000
Freestanding corner commercial building in Lakeland with an open floor plan and parking potential.
Property Size1,392 SF
Lot Size0.17 Acres
Price / SF$193.97
Days on Market4
Property Features for 1203 MAYFLOWER DRIVE
General Information
Standard status
Active
Size
1,392 SF
Lot size
0.17 Acres
Property subtype
Business
Building Details
Year Built
1963
Listing Agency:
BHHS FLORIDA PROPERTIES GROUP
(863) 701-2350
Listed By:
Michael Hochadel · License #3562389
Source:
Miharaandassociates
Added: Jul 24
Changed: Jul 27
Last Checked: Jul 27 at 10:38AM
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 BHHS FLORIDA PROPERTIES GROUP
Investment Insights
Based on property information with market context.
This freestanding corner commercial property was originally converted from a single-family residence and includes an open floor plan suited for a range of customer-facing uses. The building is approximately 1,392 square feet and sits on a 7,318 square foot corner lot, with ample parking potential noted for the site.
The property is located in Lakeland within the city limits, about one-half block off US Highway 98. Access to US Highway 98, major retail corridors, residential neighborhoods, and Interstate 4 is described in the remarks as convenient for customer traffic and business visibility. The building has been operated as a barber shop and beauty salon for many years.
Zoned C-3, permitted uses listed include salon, barber shop, tattoo studio, smoke or vape shop, cigar lounge where permitted, boutique retail, professional or medical office, wellness or spa services, beauty supply store, daycare, cell phone retailer, insurance agency, tax office, pet grooming, convenience retail, specialty retail, and other neighborhood commercial businesses. Buyer is responsible for independently verifying all measurements, square footage, zoning, permitted uses, and any information material to the intended use.
The property is located in Lakeland within the city limits, about one-half block off US Highway 98. Access to US Highway 98, major retail corridors, residential neighborhoods, and Interstate 4 is described in the remarks as convenient for customer traffic and business visibility. The building has been operated as a barber shop and beauty salon for many years.
Zoned C-3, permitted uses listed include salon, barber shop, tattoo studio, smoke or vape shop, cigar lounge where permitted, boutique retail, professional or medical office, wellness or spa services, beauty supply store, daycare, cell phone retailer, insurance agency, tax office, pet grooming, convenience retail, specialty retail, and other neighborhood commercial businesses. Buyer is responsible for independently verifying all measurements, square footage, zoning, permitted uses, and any information material to the intended use.
Key Highlights
- Freestanding corner commercial building in North Lakeland built in 1963, offering about 1,392 SF of commercial space
- Located on a 7,318 SF corner lot, just 1/2 block off US Highway 98 with easy access and parking potential
- Open floor plan previously operating as a barber shop and beauty salon; adaptable for many commercial uses
Financial Insights For 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 | $24.2k | $17.40 |
| − Vacancy | −$1.9k | −$1.36 |
| EGI | $22.3k | $16.04 |
| − OpEx | −$6.7k | −$4.81 |
| NOI | $15.6k | $11.23 |
1,392 SF · lease $17.40/SF/yr · vacancy 7.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$223.3K
$195.4K – $260.5K
NOI $15,632 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$334.5K
$292.7K – $390.3K
NOI $23,416 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Mildred's Florist — 5504 US Hwy 98 N, Lakeland, FL 33809
- Sam's Club Floral — 4600 US Hwy 98 N, Lakeland, FL 33809
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding corner commercial building in Lakeland with an open floor plan and parking potential.
Where is this storefront property located?
The property is located at 1203 MAYFLOWER DRIVE Lakeland, FL.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Freestanding corner commercial building in North Lakeland built in 1963, offering about 1,392 SF of commercial space; Located on a 7,318 SF corner lot, just 1/2 block off US Highway 98 with easy access and parking potential; Open floor plan previously operating as a barber shop and beauty salon; adaptable for many commercial uses
