Multi-Tenant Mixed-Use
For Sale
$1,500,000
1517 COMMERCIAL PARK Drive, Lakeland, FL 33801
Commercial Sale, LAKELAND, FL
Property Size4,842 SF
Lot Size0.28 Acres
Price / SF$309.79
Days on Market47
Property Features for 1517 COMMERCIAL PARK Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O-1
Subdivision
COMMERCIAL PARK SOUTH
Directions
N crystal lake dr Right commercial park dr Property is on right side
Standard status
Active
APN
24-28-29-248150-000222
Size
4,842 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COMMERCIAL PARK SOUTH PB 47 PG 50 LOT 22 BEG NW COR RUN E 153.96 FT S 132.33 FT WLY 25.27 FT TO SCL RR R/W NWLY ALONG R/W 186.45 FT TO POB
Tax Annual Amount
7889
Legal Description
COMMERCIAL PARK SOUTH PB 47 PG 50 LOT 22 BEG NW COR RUN E 153.96 FT S 132.33 FT WLY 25.27 FT TO SCL RR R/W NWLY ALONG R/W 186.45 FT TO POB
Utilities
Cooling system
Central Air
Building Details
Year built
1969
Floors in Building
1
Building materials
Block
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Karina Turcios · License #3435337
(407) 346-7606
Added: Sep 19
Changed: Sep 29
Last Checked: Nov 4 at 3:06PM
MLS# O6443328
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,842-square-foot mixed-use building contains six units configured for office and retail occupancy. Built in 1969 with block construction, the property includes central air and is zoned O-1. The stated use potential includes general office, medical, professional services, boutique, and specialty retail applications.
The property is located off US Hwy 98 S in Lakeland, with access to the US Hwy 98/Bartow Rd corridor. Traffic on the corridor is reported at 42,000 vehicles daily. The address is 1517 Commercial Park Drive, Lakeland, FL 33801, and the site encompasses 0.28 acres.
The property is located off US Hwy 98 S in Lakeland, with access to the US Hwy 98/Bartow Rd corridor. Traffic on the corridor is reported at 42,000 vehicles daily. The address is 1517 Commercial Park Drive, Lakeland, FL 33801, and the site encompasses 0.28 acres.
Key Highlights
- Six‑unit mixed‑use office and retail building
- 4,842 square feet on 0.28 acres
- O‑1 zoning supports stated office, medical, professional services, boutique, and specialty retail uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,484
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,189,680
$1.2M
Cap Rate 7%
$849,771
$849.8K
Cap Rate 9%
$660,933
$660.9K
Market Conditions
NOI Build-Up for 4,842 SF
Gross rent
$101.7K $21.00/SF
− Vacancy
−$22.4K −$4.62/SF
EGI
$79.3K $16.38/SF
− OpEx
−$19.8K −$4.10/SF
NOI
$59.5K $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%
$1,189,680
Cap Rate 7%
$849,771
Cap Rate 9%
$660,933
Alternative Uses
Best Use
Office B
$849.8K
$743.6K – $991.4K
NOI $59,484 @ 7.0% cap · market cap 3.97%
Second Best
Mixed Use
$779.0K
$681.6K – $908.8K
NOI $54,527 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,450 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Office units
42,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
Explore this area
Business Placement
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six-unit commercial building with O-1 zoning, central air, and office and retail flexibility.
Where is this mixed-use property located?
The property is located at 1517 COMMERCIAL PARK Drive Lakeland, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Six‑unit mixed‑use office and retail building; 4,842 square feet on 0.28 acres; O‑1 zoning supports stated office, medical, professional services, boutique, and specialty retail uses
