Historic Mixed-Use
For Sale
Contact for pricing
541 S FLORIDA AVE, Lakeland, FL 33801
Two-building commercial property combines a landmark religious interior with an operating medical clinic and paved parking.
Property Size23,700 SF
Lot Size1.72 Acres
Price / SF$200.42
Days on Market674
Property Features for 541 S FLORIDA AVE
General Information
Standard status
Active
Size
23,700 SF
Lot size
1.72 Acres
Property subtype
Office
Zoning
C-2
Property Condition
Severity
Repairs Needed
Evidence
SOME RENOVATION IS REQUIRED.
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$21,000
Amenities
stained glass windows
pipe organ
pews
Building Details
Building Size
23,700 SF
Year Built
1925
Buildings
2
Listing Agency:
AMERICAN REALTY GROUP
Listed By:
Uzma Khan · License #3441636
(813) 785-0302
Source:
Thefullerproperties
Added: Dec 9, 2024
Changed: Oct 11
Last Checked: Oct 12 at 11:32PM
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
Investment Insights
Based on property information with market context.
This mixed-use property includes two buildings totaling 23,700 square feet on three parcels. Building 1 measures 14,300 square feet and retains distinctive religious and architectural features, including stained-glass windows, a pipe organ, and pews. Building 2 operates as a medical clinic with outpatient procedures. Some renovation is required.
The property includes a paved parking area with upgraded perimeter fencing, secured parking, sidewalks, street lighting, and a corner position along S Florida Avenue. It is located within the Dixieland Community Redevelopment Area and a historic district. The site was constructed in 1925 and is near public transit and the central business district.
The property includes a paved parking area with upgraded perimeter fencing, secured parking, sidewalks, street lighting, and a corner position along S Florida Avenue. It is located within the Dixieland Community Redevelopment Area and a historic district. The site was constructed in 1925 and is near public transit and the central business district.
Key Highlights
- 23,700 SF across two buildings, including a 14,300 SF primary structure
- Historic religious interior with stained‑glass windows, pipe organ, and pews
- Building 2 functions as a medical clinic with outpatient procedures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$297,809
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,956,180
$6.0M
Cap Rate 7%
$4,254,414
$4.3M
Cap Rate 9%
$3,308,989
$3.3M
Market Conditions
NOI Build-Up for 23,700 SF
Gross rent
$554.6K $23.40/SF
− Vacancy
−$58.2K −$2.46/SF
EGI
$496.3K $20.94/SF
− OpEx
−$198.5K −$8.38/SF
NOI
$297.8K $12.57/SF
Area
Lakeland, FL
Vacancy
10.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,956,180
Cap Rate 7%
$4,254,414
Cap Rate 9%
$3,308,989
Alternative Uses
Best Use
Healthcare Medical
$4.25M
$3.72M – $4.96M
NOI $297,809 @ 7.0% cap · market cap 6.27%
Second Best
Mixed Use
$3.81M
$3.34M – $4.45M
NOI $266,892 @ 7.0% cap · market cap 5.62%
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,426
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial property combines a landmark religious interior with an operating medical clinic and paved parking.
Where is this mixed-use property located?
The property is located at 541 S FLORIDA AVE 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: 23,700 SF across two buildings, including a 14,300 SF primary structure; Historic religious interior with stained‑glass windows, pipe organ, and pews; Building 2 functions as a medical clinic with outpatient procedures
