Corner Retail and Office
1304 S Florida Ave & 113 Palmola Street Lakeland, FL 33803
New
For Sale
$919,900
Signalized hard-corner site with two contiguous C-2 parcels and income from a leased auto repair facility.
Days on Market7
Property Features for 1304 S Florida Ave & 113 Palmola Street
General Information
Standard status
Active
Property subtype
SCR
Building Details
Year Built
1924
Listing Agency:
Saunders Real Estate, LLC
(863) 272-7135
Listed By:
Eric Ammon · License #BK620314
(863) 272-7135
Source:
Realnex
Added: Jul 23
Changed: Jul 27
Last Checked: Jul 29 at 3:28AM
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 Saunders Real Estate, LLC
Investment Insights
Based on property information with market context.
Offered for sale is a highly visible redevelopment corner located at the signalized hard corner of South Florida Avenue and Palmola Street. The site includes two contiguous C-2 zoned parcels and provides immediate holding income from an existing auto repair facility that is currently leased on a month-to-month basis.
The property’s existing auto repair use is leased for $3,800 per month with a 30-day termination option. An adjacent structure built in 1925, previously utilized as a professional office, is located on the rear parcel and provides additional flexibility for a purchaser.
The property is enrolled in Florida’s State Petroleum Cleanup Program. City water and sewer are available, and 2026 property taxes are reported as $8,949. The site is situated within Lakeland’s Dixieland District and is identified as part of the Lakeland Community Redevelopment Agency (CRA).
The property’s existing auto repair use is leased for $3,800 per month with a 30-day termination option. An adjacent structure built in 1925, previously utilized as a professional office, is located on the rear parcel and provides additional flexibility for a purchaser.
The property is enrolled in Florida’s State Petroleum Cleanup Program. City water and sewer are available, and 2026 property taxes are reported as $8,949. The site is situated within Lakeland’s Dixieland District and is identified as part of the Lakeland Community Redevelopment Agency (CRA).
Key Highlights
- 0.51‑acre signalized hard‑corner site at S. Florida Ave and Palmola St, with addresses 1304 S. Florida Ave and 113 Palmola St.
- Two contiguous C‑2 zoned parcels with 23,000 vehicles per day (AADT) along S. Florida Ave in Lakeland’s Dixieland District.
- Immediate holding income: 2,138 SF auto repair facility leased month‑to‑month for $45,600/year with a 30‑day termination option.
Financial Insights For Office B
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 | $101.4k | $21.00 |
| − Vacancy | −$22.3k | −$4.62 |
| EGI | $79.1k | $16.38 |
| − OpEx | −$19.8k | −$4.10 |
| NOI | $59.3k | $12.29 |
4,830 SF · lease $21.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$847.7K
$741.7K – $989.0K
NOI $59,337 @ 7.0% cap · market cap 6.45%
Second Best
Retail
$774.9K
$678.0K – $904.0K
NOI $54,241 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,248 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Hurricane Auto Repair and Sales — 1304 florida ave s, lakeland, fl 33803
- Kelley's Towing Service — 2403 Florida Ave S, Lakeland, FL 33803
- SuperGlass,LLC. — 1820 Florida Ave S, Lakeland, FL 33803
- Left Lane Auto & Tire — 1304 Florida Ave S, Lakeland, FL 33803
- Shifters Transmission LLC — 2202 Florida Ave S, Lakeland, FL 33803
Frequently Asked Questions
What type of property is this?
Auto shop - Signalized hard-corner site with two contiguous C-2 parcels and income from a leased auto repair facility.
Where is this auto shop located?
The property is located at 1304 S Florida Ave & 113 Palmola Street Lakeland, FL.
What is the asking price?
The asking price for this property is $919,900.
What are key features of this property?
This property features: 0.51‑acre signalized hard‑corner site at S. Florida Ave and Palmola St, with addresses 1304 S. Florida Ave and 113 Palmola St.; Two contiguous C‑2 zoned parcels with 23,000 vehicles per day (AADT) along S. Florida Ave in Lakeland’s Dixieland District.; Immediate holding income: 2,138 SF auto repair facility leased month‑to‑month for $45,600/year with a 30‑day termination option.
