Mixed-Use Property with Redevelopment
4715 Florida Avenue South, Lakeland, FL 33813
For Sale
Contact for pricing
A two-year leaseback of the furniture showroom adds an established occupancy component.
Property Size140,000 SF
Lot Size8.36 Acres
Price / SF$178.57
Days on Market9
Property Features for 4715 Florida Avenue South
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Anchor Co-Tenants
Traffic Count
Highway Access
Road Access
Utilities to Site
Mixed-Use Components
Additional Details
Tenant in Place
Building Details
Building Size
Tenancy
Owner Occupied
Listing Agency:
Saunders Real Estate
Listed By:
Craig Morby · License FL SL3152384
(863) 581-0059
Source:
Crexi
Added: Nov 2
Changed: Nov 8
Last Checked: Nov 10 at 6:17AM
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
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Investment Insights
Based on property information with market context.
The Lakeland property comprises approximately 140,000 square feet across 8.36 acres, with retail, office, educational, medical, and restaurant tenants. Claussen’s Furniture occupies a two-story showroom of approximately 40,000 square feet under a proposed two-year leaseback. An additional 26,000 square feet of office space is available for lease. A 2–3-acre area at the rear is identified for potential additional development, with development permitted up to 37 feet in height. The existing tenant roster also includes Northbridge University, Dedicated Senior Medical Center, Little Footsteps Academy, and Margarita's Cocina Mexicana.
The site runs between South Florida Avenue and Old Highway 37, with 515 feet of frontage on South Florida Avenue and 215 feet on Old Highway 37. It is zoned Linear Commercial Corridor (LCC) in unincorporated Polk County and has public water and wastewater service, three lift stations, and parking at the front and rear. Reported traffic exposure is 42,500 vehicles per day, with access to Interstate 4 and the Polk Parkway.
The site runs between South Florida Avenue and Old Highway 37, with 515 feet of frontage on South Florida Avenue and 215 feet on Old Highway 37. It is zoned Linear Commercial Corridor (LCC) in unincorporated Polk County and has public water and wastewater service, three lift stations, and parking at the front and rear. Reported traffic exposure is 42,500 vehicles per day, with access to Interstate 4 and the Polk Parkway.
Key Highlights
- Approximately 140,000 square feet on 8.36 acres
- Two‑year leaseback planned for the 40,000‑square‑foot, two‑story furniture showroom
- An additional 26,000 square feet of office space is available for lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,719,900
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$34,398,000
$34.4M
Cap Rate 7%
$24,570,000
$24.6M
Cap Rate 9%
$19,110,000
$19.1M
Market Conditions
NOI Build-Up for 140,000 SF
Gross rent
$2.94M $21.00/SF
− Vacancy
−$646.8K −$4.62/SF
EGI
$2.29M $16.38/SF
− OpEx
−$573.3K −$4.10/SF
NOI
$1.72M $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%
$34,398,000
Cap Rate 7%
$24,570,000
Cap Rate 9%
$19,110,000
Alternative Uses
Best Use
Office B
$24.57M
$21.50M – $28.67M
NOI $1,719,900 @ 7.0% cap · market cap 6.88%
Second Best
Mixed Use
$22.52M
$19.71M – $26.28M
NOI $1,576,575 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$33.64M
$29.44M – $39.25M
NOI $2,355,024 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
42,500 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,365
Businesses Nearby
Explore this area
Business Placement
Demographics for 33813, FL
36,448
Population
14,787
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
1,736
Density / Sq Mi
$96,723
Median Household Income
$50,581
Median Earnings
$1,637
Median Rent
$330,100
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 - A two-year leaseback of the furniture showroom adds an established occupancy component.
Where is this mixed-use property located?
The property is located at 4715 Florida Avenue South Lakeland, FL.
What is the asking price?
The asking price for this property is $25,000,000.
What are key features of this property?
This property features: Approximately 140,000 square feet on 8.36 acres; Two‑year leaseback planned for the 40,000‑square‑foot, two‑story furniture showroom; An additional 26,000 square feet of office space is available for lease
