305 Main St Lakeland, FL 33815-1555

Property Details for 305 Main St

Year built

1953

Lot size

1.49 lot acres

Property type

Commercial land

APN

242815000000014200

APU

242815000000014200

Description

This exceptional core investment opportunity presents a fully leased, 13,660-square-foot flex/retail building situated in the heart of downtown Lakeland, Florida. The property, boasting a 7.25% cap rate, is comprised of five tenants under NNN leases with approximately four to five years remaining and built-in 4% annual rent increases. The single-story, 1924-built structure underwent a complete renovation in 2024, featuring a brand-new roof and modern urban design elements. The interior showcases high (18-foot) ceilings, exposed brick, exposed air ducts, and fully air-conditioned spaces. The building includes 30 on-site parking spaces, supplemented by ample street parking. Tenants include a 4,725-square-foot gym (fully renovated in 2023 with showers), a non-profit office/creative studio, a coffee shop and roaster, a dance studio (fully renovated in 2024), and a bike retail shop. The 0.44-acre lot is zoned C-6 (Commercial) and benefits from its prime location on West Main Street, minutes from the Sports & Events District and the new Bonnet Springs Park (opened 2022). This vibrant downtown location offers easy access to I-4 and the Polk Parkway, and is within walking distance of numerous restaurants, hotels, bars, and shopping options, making it an ideal investment for long-term growth and stability. The property's APN numbers are 232813068500007011, 232813068500007012, 232813068500007021, 232813068500007022, 232813068500006000, and 232813068500013010. The asking price is $3,100,000 ($226.94/SF).