120 Main St Lakeland, FL 33815-1552
Property profile & analytics
120 Main St Lakeland, FL 33815-1552
- Retail space
- 4,060 SF
- 0.17 lot acres
Property ID
US18-4355396
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Glass Onion / Interior Design / Home Decor Store
- Better Homes and Gardens Real Estate Fine Living / Real Estate Agency
- Chelsea Title- Lakeland / Escrow Service / Title Company
Property Details for 120 Main St
- Year built
- 1925
- Lot size
- 0.17 lot acres
- Property size
- 4,060 SF
- Property type
- Retail space
- APN
- 232813069500000020
- APU
- 232813069500000020
Description
This exceptional value-add opportunity presents a two-story, 6,300-square-foot mixed-use building situated in the heart of Downtown Lakeland, Florida. Currently 50% occupied, this property offers significant upside potential through leasing the vacant second floor. The building boasts a strong anchor tenant, Fidelity National Financial, a Fortune 500 company, occupying 25% of the space. All leases are NNN, meaning tenants cover common area maintenance, insurance, and taxes. First-floor tenants enjoy separate entryways and prominent street signage on East Main Street, a high-traffic location with over 24,700 vehicles per day passing nearby. Built in 1910 and renovated in 1995, this property sits on a 0.08-acre lot and offers ample street parking and proximity to public parking lots. The building's prime downtown location provides easy access to Lake Mirror and other downtown amenities. Lakeland's thriving economy, coupled with Florida's favorable tax environment and a growing population (projected 8% increase within 5 miles by 2027), makes this a compelling investment. The property's current Net Operating Income (NOI) is $46,758, yielding a 5.22% cap rate, and is offered at an asking price of $895,000. This is a rare chance to acquire a well-located, multi-tenant property with substantial growth potential in a rapidly developing market.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $760,000
- 6.5%
- $700,000
- 7%
- $650,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $432,000
Market price range: $148k - $614k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $755,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $745,000 Change: -1% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lakeland
- County
- Polk
- State
- Florida
- Longitude
- -81.958
- Latitude
- 28.0439
- CBSA code
- 29460
- CBSA name
- LAKELAND, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$6,131
$86,239
$238,323
$324,562
-
$86,239
$238,323
$324,562
