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    187 Lake Morton Dr Lakeland, FL 33801

    For Sale
    $999,000

    Prime Lakeland land, multifamily potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 0.56-acre development site is located at 187 Lake Morton Drive in Lakeland, Florida's vibrant downtown. Boasting 40 feet of lake frontage on Lake Morton, this property offers unparalleled development opportunities. Its prime location provides easy walking access to a bustling area filled with shopping, dining, and entertainment options. Currently zoned O-1 (Office), the site is easily re-zoneable for multifamily use, offering flexible development potential to suit various needs. Lakeland's impressive growth trajectory is undeniable, recognized as the #1 Fastest Growing City in the US by Bloomberg.com and the #36 Best Performing City by the Milken Institute. The property benefits from high visibility and accessibility, with an impressive Average Annual Daily Traffic (AADT) of 23,000 vehicles. This presents a unique chance to capitalize on Lakeland's thriving market and contribute to its exciting future. The asking price for this remarkable property is $999,000. This is a truly exceptional opportunity for investors seeking a prime location in a rapidly growing city.

    Property Features for 187 Lake Morton Dr

    General Information

    Property type
    Land

    HighLights

    • 0.56‑acre development site in Lakeland, FL's vibrant downtown.
    • 40 feet of lake frontage on Lake Morton.
    • Walking distance to shopping, dining, and entertainment.
    • Currently zoned O‑1 (Office), easily re‑zoneable for multifamily.
    • High visibility and accessibility with 23,000 AADT.
    • Asking price: $999,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Hill-Watson Diane E Legal Services Southwell Steven Consultant

    Suggested Use

    Restaurant Law Firm Dental Office Realty agency Spa & Massage Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.955619027243
    Latitude
    28.037370779026

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    FAQs

    What type of property is this?
    Land - Prime Lakeland land, multifamily potential.
    Where is this land located?
    The property is located at 187 Lake Morton Dr Lakeland, FL.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: 0.56-acre development site in Lakeland, FL's vibrant downtown.; 40 feet of lake frontage on Lake Morton.; Walking distance to shopping, dining, and entertainment.
    Request Owner's contact information
    187 Lake Morton Dr Lakeland, FL 33801
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    Lakeland, FL 33801
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    Realmo Value Estimation

    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.

    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.

    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
    187 Lake Morton Dr Lakeland, FL 33801
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