Historic Religious Landmark For
541 S FLORIDA AVENUE Lakeland, FL 33801
For Sale
$4,750,000
Historic religious landmark with redevelopment potential in Lakeland, Florida.
Property Size23,700 SF
Lot Size1.15 Acres
Price / SF$200.42
Days on Market595
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
Listing Agency:
AMERICAN REALTY GROUP
(813) 380-4633
Listed By:
Uzma Khan · License #3441636
(813) 380-4633
Source:
Exitrealty
Added: Dec 10, 2024
Changed: Jul 10
Last Checked: Jul 27 at 2:49AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights For Healthcare Medical
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 | $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
NOI $297,809 @ 7.0% cap · market cap 6.27%
Second Best
Office B
$4.16M
$3.64M – $4.85M
NOI $291,155 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$5.70M
$4.98M – $6.64M
NOI $398,672 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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.
