Historic Religious Landmark For Sale

541 S FLORIDA AVENUE, Lakeland, FL 33801

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For Sale

$4,750,000

Historic religious landmark with redevelopment potential in Lakeland, Florida.

Type:Commercial/Industrial

Property size:

23,700 SF

Lot size:

1.15 Acres

Price / SF:

$200/SF

HighLights

Located in Dixieland Community Redevelopment Area with grants available due to historic landmark status.
High visibility location on the main road of Lakeland.
Potential for rezoning for residential use (apartments or condos) or original purposes.
Two buildings totaling 23,700 sq. ft. on a 1.06‑acre parcel, plus a 0.66‑acre parking lot.
Includes a fully functional medical clinic with outpatient procedures in one building.
Features historic details such as stained glass windows and a pipe organ.

We can help!

Listing Contact

Uzma Khan

For Sale

$4,750,000

Historic religious landmark with redevelopment potential in Lakeland, Florida.

Type:Commercial/Industrial

Property size:

23,700 SF

Lot size:

1.15 Acres

Price / SF:

$200/SF

Added:: Dec 9, 2024
Days on Market:: 550
Last Refresh:: May 19 at 11:23 pm

Property Features for 541 S FLORIDA AVENUE

General Information

Standard status: Active
Size: 23,700 SF
Lot size: 1.15 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1925

We can help!

Listing Contact

Uzma Khan

Listing agent Uzma Khan License #3441636

Listing office AMERICAN REALTY GROUP

Listing date Dec 9, 2024

Source Exitrealty

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 AMERICAN REALTY GROUP

HighLights

Located in Dixieland Community Redevelopment Area with grants available due to historic landmark status.
High visibility location on the main road of Lakeland.
Potential for rezoning for residential use (apartments or condos) or original purposes.
Two buildings totaling 23,700 sq. ft. on a 1.06‑acre parcel, plus a 0.66‑acre parking lot.
Includes a fully functional medical clinic with outpatient procedures in one building.
Features historic details such as stained glass windows and a pipe organ.

Overview

This historic religious landmark features old-world art, exquisitely crafted stained-glass windows, a pipe organ, and pews. Building 1, with 14,300 square feet, is zoned C-2 by the City of Lakeland. Building 2 is a fully functional medical clinic with outpatient procedures. The property includes paved parking lots of 0.15 acres and 0.51 acres, totaling over 1.1 acres with both buildings and parking. The total area under roof construction for both buildings is 23,700 square feet, with an additional 0.66 acres for parking. Located within the Dixieland Community Redevelopment Area, the property may be eligible for various grants due to its location in a historic district and its status as a landmark structure. Some renovation is required, which the seller will compensate for. The property has the potential to be rezoned for residential use, apartments, or condos, or for its original purposes. The building and parking lot are on the main road of Lakeland and have high visibility. Air rights are available, offering potential lake views. Vehicle counts are high.

Local Financial Insights For Healthcare Medical

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$554.6k	$23.40
− Vacancy	−$58.2k	−$2.46
EGI	$496.3k	$20.94
− OpEx	−$198.5k	−$8.38
NOI	$297.8k	$12.57

23,700 SF · lease $23.40/SF/yr · vacancy 10.50% · expense 40.00%

Alternative Uses

Best Use

Healthcare Medical

$4.25M

$3.72M – $4.96M (±1% cap)

NOI $297,809 @ 7.0% cap · market cap 6.27%

Second Best

Office B

$4.16M

$3.64M – $4.85M (±1% cap)

NOI $291,155 @ 7.0% cap · market cap 6.13%

Theoretical Best

Office A

$5.70M

$4.98M – $6.64M (±1% cap)

NOI $398,672 @ 7.0% cap · market cap 8.39%

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

Property Profile Location Intelligence

Current Use by Public Records

Dinar Sajan, MD Physician Pain Medicine Inc Physician Saqib Khan, MD Physician Health & Psychiatry Medical Clinic

Suggested Use

Location Insight

Map
Local Demand

City: Lakeland
County: Polk
State: Florida
Longitude: -81.9577
Latitude: 28.0379

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For sale
Churches & religious facilities
FL
Lakeland
33801
541 S FLORIDA AVENUE

What type of property is this?

Church & religious facility - Historic religious landmark with redevelopment potential in Lakeland, Florida.

Where is this church & religious facility located?

The property is located at 541 S FLORIDA AVENUE Lakeland, FL.

What is the asking price?

The asking price for this property is $4,750,000.

What are key features of this property?

This property features: Located in Dixieland Community Redevelopment Area with grants available due to historic landmark status.; High visibility location on the main road of Lakeland.; Potential for rezoning for residential use (apartments or condos) or original purposes.