Historic Mixed-Use
For Sale
$4,750,000
541 S Florida Avenue LAKELAND, 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 Market58
Property Features for 541 S Florida Avenue LAKELAND
General Information
Standard status
Active
Size
23,700 SF
Lot size
1.72 Acres
Zoning
I-1
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
Bath/Stubbed,Daylight,Exterior Entry,Unfinished
Concrete,Engineered Hardwood
true
3
Public Records
Mature Landscaping
Central Business District,Corner Lot,Fire Hydrant,Historic District,Near Public Transit,Sidewalk,Street Lights
Public
23700
1.15
false
13 to 18 Spaces,19 to 30 Spaces,Ground Level,Lighted,Over 30 Spaces,Secured
Paved,Asphalt
Basement,Slab
Street Lights,Street Paved,Business District,Main Throrughfare,State Road
2
Private Maintained Road,Public Maintained Road
Building Details
Building Size
23,700 SF
Year Built
1925
Buildings
2
Stories
3
Listing Agency:
(407) 890-1354
Listed By:
Anna Hunter
(407) 890-1354
Source:
Therealestatecollection
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 30 at 12:24AM
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 Anna Hunter
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$297,809
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Questions? Ask Rey
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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 Avenue LAKELAND 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
