5304 S. Florida Avenue, Lakeland, Florida 33813
Property: This 10,500 sf building is one of three freestanding buildings, within a 25,000 sf office condominium project. Total building occupancy is 85%. The front portion of the building is set up with executive suites complete with shared kitchen, reception/waiting area and two shared conference rooms. The balance of the property is divided into three units: two of approximately 1500 sf, and one of approximately 600 sf. There is ample shared parking on-site with visitor parking in the front of the property, and tenant parking along the rear. The owner run condominium Association has substantial reserves, and they’ve always taken excellent care of the property. Current Pricing is at a 7% CAP rate. This is a low maintenance investment property.
Location: The property is located along the four-lane State Road 37, commonly known as S. Florida Ave. Traffic counts along this busy commercial corridor are more than 42,500 cars per day. This area along S. Florida Ave., South of the Polk Parkway, is the one of the most densely populated areas said. 2017 demographics show in excess of 127,00 people within a 5-mile ring with an average household annual income above $75,000. 2022 projections put the population over 134,000, and average income over $86,000. Just 2 miles to the north is the Polk Parkway toll road, allowing for easy ingress from both Tampa and Orlando. Immediate vicinity offers a wide variety of restaurants, banking, and retail for employees and clients.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: $1,095,000
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