Historic Religious Landmark For
541 S FLORIDA AVENUE, Lakeland, FL 33801
Historic religious landmark with redevelopment potential in Lakeland, Florida.
Type:Commercial/Industrial
Property size:
23,700 SFLot size:
1.15 AcresPrice / SF:
$200/SF- Added:
- Mar 11, 2026
- Days on Market:
- 74
- Last Refresh:
- Apr 6 at 3:52 am
Property Features for 541 S FLORIDA AVENUE
General Information
- Standard status
- Active
- Size
- 23,700 SF
- Lot size
- 1.15 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1925
Listing agent Uzma Khan License #3441636
Listing office AMERICAN REALTY GROUP (813) 785-0302
Listing date Mar 11, 2026
Source Exitrealty
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 AMERICAN REALTY GROUP
HighLights
- Located in Dixieland Community Redevelopment Area with grants available due to historic landmark status.
- High visibility location on the main road of Lakeland.
- Potential for rezoning for residential use (apartments or condos) or original purposes.
- Two buildings totaling 23,700 sq. ft. on a 1.06‑acre parcel, plus a 0.66‑acre parking lot.
- Includes a fully functional medical clinic with outpatient procedures in one building.
- Features historic details such as stained glass windows and a pipe organ.
Overview
This historic religious landmark features old-world art, exquisitely crafted stained-glass windows, a pipe organ, and pews. Building 1, with 14,300 square feet, is zoned C-2 by the City of Lakeland. Building 2 is a fully functional medical clinic with outpatient procedures. The property includes paved parking lots of 0.15 acres and 0.51 acres, totaling over 1.1 acres with both buildings and parking. The total area under roof construction for both buildings is 23,700 square feet, with an additional 0.66 acres for parking. Located within the Dixieland Community Redevelopment Area, the property may be eligible for various grants due to its location in a historic district and its status as a landmark structure. Some renovation is required, which the seller will compensate for. The property has the potential to be rezoned for residential use, apartments, or condos, or for its original purposes. The building and parking lot are on the main road of Lakeland and have high visibility. Air rights are available, offering potential lake views. Vehicle counts are high.
Financial Insights
Value Estimation Calculated for Healthcare Medical
Conservative
$3.31M
NOI $297,809 @ 9.00% cap · cautious / downside scenario
Moderate
$4.25M
NOI $297,809 @ 7.00% cap · market / base-case scenario
Aggressive
$5.96M
NOI $297,809 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Healthcare Medical
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $554.6k | $23.40 |
| − Vacancy | −$58.2k | −$2.46 |
| EGI | $496.3k | $20.94 |
| − OpEx | −$198.5k | −$8.38 |
| NOI | $297.8k | $12.57 |
23,700 SF · lease $23.40/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Use Scenarios
Best Use
Healthcare Medical
$4.25M
$3.72M – $4.96M
NOI $297,809 @ 7.0% cap · market cap 6.27%
Second Best
Office B
$4.16M
$3.64M – $4.85M
NOI $291,155 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$5.70M
$4.98M – $6.64M
NOI $398,672 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Dinar Sajan, MD
Physician
Pain Medicine Inc
Physician
Saqib Khan, MD
Physician
Health & Psychiatry
Medical Clinic
Location Insight
- Map
- Local Demand
- City
- Lakeland
- County
- Polk
- State
- Florida
- Longitude
- -81.9577
- Latitude
- 28.0379
Nearby Similar for Sale
FAQs
What type of property is this?
Church & religious facility - Historic religious landmark with redevelopment potential in Lakeland, Florida.
Where is this church & religious facility located?
The property is located at 541 S FLORIDA AVENUE Lakeland, FL.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Located in Dixieland Community Redevelopment Area with grants available due to historic landmark status.; High visibility location on the main road of Lakeland.; Potential for rezoning for residential use (apartments or condos) or original purposes.
