Building Details

Year Built 1914

Listing Agency: SERHANT Show Phone

Listed By: Elizabeth Willers · License #3283525 Show Phone

Source: Exitrealty

Added: Nov 18, 2024 Changed: Sep 5 Last Checked: Sep 15 at 6:05AM

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Investment Insights

Based on property information with market context.

This renovated historic commercial building, dating back to 1914, is located in the Dixieland area of Lakeland. The building features original hardwood flooring and available signage. The upstairs area includes two offices and a bathroom. A shared updated kitchen is available, equipped with new appliances and an eat-in space. The downstairs area features a fireplace in the conference room, two front offices, and two back offices, along with a full bathroom and back porch providing access to the back parking lot. Parking includes two spaces in the front and four reserved spaces in the back, plus two tandem spaces under the carport. The property is situated in a business district, near coffee houses, restaurants, art galleries, and antique shops. It is located approximately 5 minutes from downtown and 10 minutes from South Lakeland.

Key Highlights

• High visibility and available signage in a desirable Dixieland location.
• Rental income potential from existing downstairs tenants.
• Renovated historic 1914 building with original hardwood flooring.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,405

Cap Rate

5.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,100 $508.1K

Cap Rate 7%

$362,929 $362.9K

Cap Rate 9%

$282,278 $282.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,068 SF

Gross rent

$43.4K $21.00/SF

− Vacancy

−$9.6K −$4.62/SF

EGI

$33.9K $16.38/SF

− OpEx

−$8.5K −$4.10/SF

NOI

$25.4K $12.29/SF

Area

Lakeland, FL

Vacancy

22.00%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$508,100

Cap Rate 7%

$362,929

Cap Rate 9%

$282,278

Alternative Uses

Best Use

Office B

$362.9K

$317.6K – $423.4K (±1% cap)

NOI $25,405 @ 7.0% cap · market cap 5.09%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$497.0K

$434.8K – $579.8K (±1% cap)

NOI $34,787 @ 7.0% cap · market cap 6.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Fusion Pod Media Video Editing Service The Agency Property Management, ... Property Management Company Karley Bruder, Realtor® Real Estate Agency The FALLS adventure Inc. Charitable Organization Lakeland Staging LLC Furniture & Home Goods

Suggested Use

Top Pick Veterinary Clinic (Bike/Boat/Book/etc) Store Storage Facility Butcher Wine and Liquor Store Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,750

Businesses Nearby

Explore this area Business Placement

Demographics for 33815, FL

15,681

Population

7,646

Households

2.1

Avg Household Size

40

Median Age

11%

College-Educated

80%

High-School Grad

7.4 sq mi

ZIP Area

2,119

Density / Sq Mi

$36,445

Median Household Income

$32,637

Median Earnings

$1,078

Median Rent

$42,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Charming renovated 1914 building in the heart of Dixieland.

Where is this office building located?

The property is located at 815 S MISSOURI AVENUE Lakeland, FL.

What is the asking price?

The asking price for this property is $499,000.

What are key features of this property?

This property features: High visibility and available signage in a desirable Dixieland location.; Rental income potential from existing downstairs tenants.; Renovated historic 1914 building with original hardwood flooring.