120 S Kentucky Ave - Storefront FOR SALE


Lakeland, FL 33801- City of Lakeland
$1,200,000 USD
863-581-0059
120 S Kentucky Ave, Lakeland, FL for Sale
$1,200,000 USD
Storefront - FOR SALE
1/15
null | 5.02% Cap Rate

120 S Kentucky Ave
Lakeland, FL 33801
City of Lakeland


HIGHLIGHTS

  • Prime downtown location, zoned C-7, City of Lakeland. Uses abound in this zoning classification, and include retail, office and restaurant.
  • 100% leased with established tenants with each of 15+ years and stable income. 3% annual increases. 5 designated parking spaces.
  • Close to a NNN arrangement. Owner pays property taxes, and insurance. TENANT RESPONSIBLE FOR - HVAC, plumbing electrical, and interior repairs.
  • Landlord expenses include property taxes at $5,109 per year, insurance at $2,851. Roof Re-Sealed in August 2023.
  • Connectivity to Munn Park, City Hall, Bonnet Springs Park, Florida Southern College, The Joinery, RP Funding Center, hotels, restaurants/retail
  • Lakeland is located between Tampa and Orlando on the I-4 corridor, and is a growing City within one of the fastest growing counties in the US.

OVERVIEW

PLEASE SEE ATTACHED PROPERTY BROCHURE FOR ALL DETAILS. We are pleased to present this exceptional opportunity to own a fully stabilized retail investment property in the heart of downtown Lakeland, Florida. This 4,200 SF building is divided into two separately leased units, providing immediate, stable cash flow with long-term, well-established tenants. The property is zoned C-7, allowing for a wide variety of commercial uses, including retail, restaurant, entertainment, and office. The two tenants have occupied the property for more than 15 years, demonstrating the strength of the location and the stability of the investment. One tenant operates a successful family oriented dance studio, while the other is a popular nightlife destination. The property has 5 designated parking space in the rear of the building. Located on Kentucky Avenue, Lakeland's premier retail and entertainment corridor, the property benefits from outstanding visibility, strong pedestrian traffic, and close proximity to Munn Park, City Hall, Bonnet Springs Park, Florida Southern College, The Joinery, RP Funding Center, hotels, an ever growing restaurant scene, breweries, and numerous local retailers. The property is also on the Farmer's Market route every Saturday. Whether you're seeking a stable, passive investment or a strategic acquisition in one of Central Florida's most vibrant downtown districts, this property represents an outstanding opportunity. Lakeland is located between Tampa and Orlando on the I-4 corridor, and is a growing City within one of the fastest growing counties in the US. The corridor has in excess of 8 million residents. The I-4 interchanges in Lakeland see 100,00o vehicles per day.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$286 USD /SF

CAP RATE

5.02%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stabilized Lakeland Investment

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,966 SF

ZONING

C-7

APN/PARCEL ID

24-28-18-201000-017094

ASK ABOUT THIS PROPERTY

Craig MorbySaunders Real EstateMore Info
863-581-0059

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Craig MorbySaunders Real EstateMore Info
863-581-0059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.