Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Lakeland Land on US Highway Title is generated by Realmo AI

    7221 US Highway 98 N, Lakeland, FL 33809

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $575,000

    1.61 acre commercial lot with high traffic exposure.

    Type:SCR, V
    Lot size:
    1.61 Acres
    Added:
    Aug 21, 2025
    Days on Market:
    276
    Last Refresh:
    Apr 3 at 4:54 am

    Property Features for 7221 US Highway 98 N

    General Information

    Standard status
    Active
    Lot size
    1.61 Acres
    Property subtype
    SCR, V

    We can help!

    Listing Contact
    Maricruz Mejia

    Listing agent Maricruz Mejia

    Listing office SVN | Saunders Ralston Dantzler Real Estate

    Listing date Aug 21, 2025

    Source Realnex

    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 SVN | Saunders Ralston Dantzler Real Estate

    HighLights

    • High traffic exposure: Over 42,000 cars per day on US Highway 98
    • Favorable Linear Commercial Corridor (LCC) zoning allows for a variety of commercial uses
    • Excellent 235 ± FT of road frontage on US Highway 98
    • Strategic location: Close proximity to major retailers like Walmart and Publix
    • Sizeable 1.61 ± acre lot
    • Easy access via deceleration lane on US Highway 98 and Bibby Lane

    Overview

    Located in North Lakeland along US Highway 98, this 1.61 ± acre lot offers significant exposure with over 42,000 cars passing daily. The property features approximately 235 ± feet of road frontage. Currently vacant with some wooded areas, it is accessible via a deceleration lane on US Highway 98 and Bibby Lane. A MidFlorida Credit Union Bank is situated to the north, and a tire shop to the south. Located within unincorporated Polk County, the zoning is Linear Commercial Corridor, accommodating various commercial uses. Its strategic location, near major retailers like Walmart and Publix, makes it suitable for retail, office spaces, multi-family developments, and mixed-use ventures. The site benefits from frontage and visibility along US 98 N, and the Linear Commercial Corridor future land use designation offers a wide range of possibilities. The acreage is all upland.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9728456
    Latitude
    28.1344652

    Nearby Similar for Sale

    • $995,000
      4,080 SF

      Highway Frontage Mixed-Use Property

      High-visibility commercial property with office/retail space and outdoor parking.
      4930 US HIGHWAY 92 E, LAKELAND, FL 33801
      View Details
    • $450,000
      1,655 SF

      Lakeland Office with Fenced Yard

      Office property in prime location with excellent accessibility.
      313 W HIGHLAND DRIVE, LAKELAND, FL 33813
      View Details
    • $829,900
      3,617 SF

      New Duplex in Lakeland, FL

      New construction duplex with income potential near Downtown Lakeland.
      1031 E LIME STREET, LAKELAND, FL 33801
      View Details
    • $5,500,000
      22,500 SF

      Lakeland Industrial Flex Space Available

      22,500 SF available with modern office and air-conditioned warehouse.
      3025 WHITTEN RD, Lakeland, FL 33811
      View Details
    • $849,900

      Lakeland Land with Highway Frontage

      5.56 acres in North Lakeland with development potential.
      1301 DUFF ROAD, LAKELAND, FL 33810
      View Details
    • $569,000

      Lakeland Commercial Property Investment Opportunity

      Prime commercial property near Florida Avenue in Lakeland, Florida.
      305 & 309 W MEMORIAL BOULEVARD, LAKELAND, FL 33801
      View Details
    • $675,000
      4,056 SF

      Lakeland Quadruplex: Income Opportunity

      Income-producing quadplex in Lakeland, generating approximately $70,000 annual gross rental income.
      1962 CRYSTAL GROVE DRIVE, LAKELAND, FL 33801
      View Details
    • $750,000
      8,591 SF

      Lakeland Assembly Building For Sale

      Income-producing property with development potential in Lakeland, Florida.
      4626 S PIPKIN ROAD, LAKELAND, FL 33811
      View Details
    • $599,000

      Highway Frontage Land in Lakeland

      14-acre parcel with highway frontage in rapidly growing area.
      9232 US HIGHWAY 98 N, LAKELAND, FL 33809
      View Details
    • $599,900
      2,624 SF

      Income-Producing Quadplex Near FSC

      Fully occupied Lakeland quadplex near Florida Southern College.
      201 ARIANA STREET, LAKELAND, FL 33803
      View Details
    • $1,500,000
      3,192 SF

      Turnkey Restaurant and Bakery Opportunity

      Restaurant and bakery in Lakeland, ready for immediate re-opening.
      830 E MAIN STREET, LAKELAND, FL 33801
      View Details
    • $2,900,000
      24,359 SF

      Industrial Facility on Commercial Corridor

      Industrial facility with warehouse space, fabrication areas, and laydown space.
      3145 US HIGHWAY 92 E, LAKELAND, FL 33801
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.61 acre commercial lot with high traffic exposure.
    Where is this commercial land located?
    The property is located at 7221 US Highway 98 N Lakeland, FL.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: High traffic exposure: Over 42,000 cars per day on US Highway 98; Favorable Linear Commercial Corridor (LCC) zoning allows for a variety of commercial uses; Excellent 235 ± FT of road frontage on US Highway 98
    We can help!
    Listing Contact
    Maricruz Mejia
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7221 US Highway 98 N., Lakeland, FL 33809
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!