6-Unit Mixed-Use
For Sale
$1,500,000
1517 COMMERCIAL PARK, Lakeland, FL 33801
O-1 zoning accommodates office, medical, professional services, boutique, and specialty retail uses.
Property Size4,842 SF
Days on Market43
Property Features for 1517 COMMERCIAL PARK
General Information
Standard status
Active
Size
4,842 SF
Property subtype
Commercial
Zoning
O-1
Site & Location
Neighborhood
Lake Bentley
Traffic Count
42,000 vehicles/day
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,889
Building Details
Building Size
4,842 SF
Year Built
1969
Tenancy
Multi
Listing Agency:
LPT Realty, LLC.
Listed By:
Karina Turcios · License #3435337
(407) 346-7606
Source:
Elliman
Added: Sep 20
Changed: Oct 31
Last Checked: Nov 1 at 5:55AM
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 LPT Realty, LLC.
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Investment Insights
Based on property information with market context.
This 6-unit mixed-use property combines office and retail space in a multi-tenant building constructed in 1969. The O-1 zoning is identified for general office, medical, professional services, boutique, and specialty retail uses, providing a range of stated commercial applications within one property.
Positioned off US Hwy 98 S, the property benefits from exposure to a corridor reporting 42,000 vehicles daily along US Hwy 98/Bartow Rd. The building’s six-unit configuration supports multiple occupancies across office and retail uses, with accessibility and visibility noted as property characteristics.
Positioned off US Hwy 98 S, the property benefits from exposure to a corridor reporting 42,000 vehicles daily along US Hwy 98/Bartow Rd. The building’s six-unit configuration supports multiple occupancies across office and retail uses, with accessibility and visibility noted as property characteristics.
Key Highlights
- Six‑unit office and retail building
- O‑1 zoning
- Constructed in 1969
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - O-1 zoning accommodates office, medical, professional services, boutique, and specialty retail uses.
Where is this mixed-use property located?
The property is located at 1517 COMMERCIAL PARK 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 office and retail building; O‑1 zoning; Constructed in 1969
