Corner Redevelopment with Auto Repair
1304 S Florida Ave Lakeland, FL 33803
New
For Sale
Contact for pricing
Two C-2 parcels at a signalized corner with a leased auto repair facility generating current month-to-month income.
Property Size4,830 SF
Lot Size0.51 Acres
Price / SF$190.46
Days on Market4
Property Features for 1304 S Florida Ave
General Information
- Standard status
- Active
- Size
- 4,830 SF
- Lot size
- 0.51 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1924
Listing Agency:
Saunders Real Estate
(863) 272-7135
Listed By:
Craig Morby · License #SL3152384
Source:
Crexi
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 25 at 3:39AM
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
Investment Insights
Based on property information with market context.
A highly visible redevelopment corner at 1304 S Florida Ave, Lakeland, offering two contiguous C-2 zoned parcels totaling 0.51 acres. The site includes an existing auto repair facility currently leased for $3,800 per month on a month-to-month basis, providing interim holding income. An adjacent 1925 structure, previously utilized as a professional office, adds further flexibility for a purchaser evaluating redevelopment, restoration, or adaptive reuse.
Located on the signalized hard corner of South Florida Avenue and Palmola Street, the property benefits from over 23,000 vehicles per day along South Florida Avenue, one of Lakeland’s primary commercial corridors. The offering is also enrolled in Florida’s State Petroleum Cleanup Program, establishing an environmental remediation pathway intended to reduce potential out-of-pocket cleanup costs for future ownership.
Located on the signalized hard corner of South Florida Avenue and Palmola Street, the property benefits from over 23,000 vehicles per day along South Florida Avenue, one of Lakeland’s primary commercial corridors. The offering is also enrolled in Florida’s State Petroleum Cleanup Program, establishing an environmental remediation pathway intended to reduce potential out-of-pocket cleanup costs for future ownership.
Key Highlights
- 0.51‑acre redevelopment corner on the signalized hard corner of S Florida Ave and Palmola St in Lakeland’s Dixieland District
- Two contiguous C‑2 zoned parcels for flexible commercial redevelopment options
- Auto repair facility currently leased for $3,800/month on a month‑to‑month basis for immediate holding income
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Left Lane Auto ...
Auto Repair Shop
Hurricane Auto Repair ...
Auto Repair Shop
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
FAQs
What type of property is this?
Auto shop - Two C-2 parcels at a signalized corner with a leased auto repair facility generating current month-to-month income.
Where is this auto shop located?
The property is located at 1304 S Florida Ave 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 redevelopment corner on the signalized hard corner of S Florida Ave and Palmola St in Lakeland’s Dixieland District; Two contiguous C‑2 zoned parcels for flexible commercial redevelopment options; Auto repair facility currently leased for $3,800/month on a month‑to‑month basis for immediate holding income
