Historic Downtown Lakeland | Redevelopment Opportunity
PROPERTY: This is one of Lakeland’s historic properties located in the CBD of the city. Property was built in 1925 during the Florida Boom. It’s Mediterranean Revival styling is still apparent today with its Mission tile Parapet right down to the glazed ceramic tile exterior and medallions. With almost 21,000 sf of interior space in this two story property you will find three existing units. First a ground floor, corner unit of 5,427 sf which was the home of Publix store #5 from 1952-1954 when they bought out competitor, All American Supermarkets (more historical timeline information available). This corner features appx 14‘-16’ ceilings and glass storefront windows. The southern and western wrap around warehouse piece is 10,111 sf and has 15’-18’ ceiling height and the most beautiful finished wood ceilings you can imagine in a property of this age. Original loading dock in place, and was occupied most of its life by Eli Witt Cigar Company. The upstairs covers another 5,427 sf over the corner piece and was a former hotel. Hotel access is on Massachusetts and Bay streets, separate from the lower units. Property also includes a .20 acre parking lot to the North across Bay street, that should park appx 24 vehicles. Also a small fenced parking/storage area is along the Western edge of the property. This site is in need of a total renovation. The historical elements need to be preserved and with the right attention this can be one of the next show pieces in downtown Lakeland. Possible to separate out into
three units and remodel one at a time.
LOCATION: Site is located along N. Massachusetts Avenue at the corner of Bay St., just one block east of the new NOBAY mixed use retail and residential development. The Lakeland Police Department is directly across the street to the East of the subject site and diagonal from the city owned 14+/- acre redevelopment site which also runs along Massachusetts. This 14-acre site is under contract with Frameworks to develop over 300 residential units. The second floor has great views out to Lake Mirror and downtown. Being in the CDB, all restaurants, retail, banks, parks and city
services are within very close walking distance. Zoning on this site is C-7 and allows a wide variety of applicable uses and is parking exempt. It is in the Munn Park historic district and downtown CRA, through which many economic incentives for business and development interests lie. Downtown Lakeland is very easily access via I-4 or the Polk Parkway. Lakeland is the largest city in the county with over 100,000 residents in the city limit alone.
AREA INFORMATION: Lakeland is located approximately 35 miles east of Tampa and 55 miles southwest of Orlando along Interstate I-4. The city is home to Florida Southern College, Florida Polytechnic University, Southeastern University, Polk Community College, and Publix. Lakeland is showing positive job growth and offers a lower cost of living than area other areas along the I-4 corridor. There are over 10,000,000 people within a 100-mile radius of Lakeland; a fact that is causing exponential growth in the area.
History buffs and art lovers will enjoy the Polk Museum of Art in Lakeland, and flight enthusiasts can’t miss the annual SUN ‘n FUN Fly-in. And don’t forget Spring Training with the Detroit Tigers at the newly renovated Joker Marchant Stadium! In the heart of Lakeland’s downtown, Lake Mirror Park offers a historic promenade, amphitheater and pedestrian walkways. Hollis Garden, found around the walkway, is a breathtaking formal garden that showcases more than 10,000 flowers and Florida indigenous plants. Make sure to dine at one of the over 30 restaurants in downtown, in what is quickly becoming the hottest restaurant scene in central Florida.
Sale Price: $1,500,000
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