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Property profile & analytics
OFF-MARKET Estimated value $12,815,000
Office buildings

500 Florida Ave Lakeland, FL 33801-5276

80,000 SF 1.67 ac lot Built 1986
Entity Owned 12-yr Hold ~ Est. High Equity
Property ID
US18-5865674
Property summary
AI-generated overview

Century Plaza offers 80,000 square feet of Class A office space in a beautifully landscaped setting at 500 Florida Ave S, Lakeland, FL 33801. This nine-story building features traditional and creative office suites, with a minimum divisible space of 1,815 square feet and a maximum contiguous space of 1,815 square feet currently available. The building boasts elegant appointments, marble and tile lobby finishes, and stunning views of Lake Morton and downtown Lakeland. Amenities include an attached parking garage and a unique fountain as a centerpiece. The location provides easy access to I-4 and the Polk Parkway, situated conveniently between Tampa and Orlando. This prime location offers easy access to downtown Lakeland's amenities, services, and dining options. The building is situated on the corner of South Florida Avenue and Walnut Street, offering excellent visibility and accessibility. The full-service lease rate is $26.00 per square foot.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1986
Total area 80,000 SF
Lot 1.67 ac (72,832 SF)
Zoning code PUD
APN 242819218500002010
UPID US18-5865674
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Polk County Paving General Contractor Construction Company
  • The Florida Health Insurance Exchange Insurance Agency
  • Musca Law Law Firm
  • Saddle Creek Logistics Brokerage Dept. Logistics Company Freight Service
  • Retail Solutions Advisors, LLC Property Management Company Commercial Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$16.13M
Comparable Approach Comparable
$13.22M
Blend (final) Blend
$12.82M
Owner & transaction history
500 South LLC · 12 yrs held
500 South LLC
since 2014
4 recorded transactions
2023
Price N/A
2014
$6.6M
2000
$5.2M
1969
Price N/A
Zoning & alternative use
PUD · Lakeland, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage $19.8M +15.3%
Medical building $19.7M +14.5%
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