Downtown Lakeland Office Building For
For Sale
Contact for pricing
501 W Peachtree St, Lakeland, FL 33815
2,958 SF office building with views of Lake Wire.
Property Size2,958 SF
Price / SF$252.87
Days on Market210
Property Features for 501 W Peachtree St
General Information
Standard status
Active
Size
2,958 SF
Class
B
Property subtype
Office
Listing Agency:
Broadway Real Estate Services
Listed By:
Jack Strollo · License #Florida BK698301
(863) 683-3425
Source:
Crexi
Added: Mar 20
Changed: Oct 10
Last Checked: Oct 14 at 8:15PM
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 Broadway Real Estate Services
Investment Insights
Based on property information with market context.
This 2,958 square foot office building is located on Lake Wire, offering views of Downtown and Lake Wire. It is adjacent to the new Prospect on Lake Wire retail and multifamily development. The property features a gated parking area with 12 on-site spaces. Inside, there is a reception area, several open workspaces and breakout rooms, and restrooms on both levels. The layout supports a very open and creative work environment. The building offers signage opportunities in the front, side, and rear. Lakeland is situated approximately 35 miles east of Tampa and 55 miles southwest of Orlando, along Interstate I-4. The city is home to Florida Southern College, Florida Polytechnic University, Southeastern University, Polk Community College, and Publix. Lakeland is experiencing positive job growth and offers a lower cost of living compared to other areas along the I-4 corridor. The area surrounding Lakeland provides a range of industrial and commercial real estate options. The city and its surrounding area have invested in infrastructure improvements to support business growth and innovation.
Key Highlights
- Prime downtown Lakeland location with STUNNING VIEWS of Downtown and Lake Wire.
- Adjacent to the new 'Prospect On Lake Wire' retail and multifamily development.
- 2,958 sf office building with a VERY OPEN AND CREATIVE workspace.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,339
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$726,780
$726.8K
Cap Rate 7%
$519,129
$519.1K
Cap Rate 9%
$403,767
$403.8K
Market Conditions
NOI Build-Up for 2,958 SF
Gross rent
$62.1K $21.00/SF
− Vacancy
−$13.7K −$4.62/SF
EGI
$48.5K $16.38/SF
− OpEx
−$12.1K −$4.10/SF
NOI
$36.3K $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%
$726,780
Cap Rate 7%
$519,129
Cap Rate 9%
$403,767
Alternative Uses
Best Use
Office B
$519.1K
$454.2K – $605.7K
NOI $36,339 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$710.8K
$622.0K – $829.3K
NOI $49,758 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,931
Businesses Nearby
Explore this area
Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - 2,958 SF office building with views of Lake Wire.
Where is this office building located?
The property is located at 501 W Peachtree St Lakeland, FL.
What is the asking price?
The asking price for this property is $748,000.
What are key features of this property?
This property features: Prime downtown Lakeland location with STUNNING VIEWS of Downtown and Lake Wire.; Adjacent to the new 'Prospect On Lake Wire' retail and multifamily development.; 2,958 sf office building with a VERY OPEN AND CREATIVE workspace.
