Office•Executive Suites•For Sale

The Colonial Building

908 S. Florida Avenue, Lakeland, Florida 33803

Sale Price $975,000
Sale Type Investment
Zoning C-2 (Commercial)
Bldg Type Multi-Tenant
Class B
Year Built 1966
Cap Rate 12.00%
Gross Bldg 9,834 SqFt
Land Area .62 Acres
Avail Parking 3/1000SqFt
Improvements The subject has two buildings with 30 parking spaces separating the two buildings. There are two entry points to the property, one via S. Florida Avenue and one via Frank Lloyd Wright Way.
Net Op Inc $116,701.26
Market Lakeland Central Business District
Sub-Market Dixieland
The subject property consists of two buildings on 0.62 +/- acres in Dixieland Historic District near Downtown Lakeland. There are 2 buildings on the property for a combined total of 9,834 +/- Heated SF and a Cell Tower that is currently generating income. There 8 Executive Suites that are available for lease all of varying sizes. The largest space is 2450 +/- SF and the smallest is 624 +/- SF. The Colonial Building is located on South Florida Avenue in Lakeland's Central Business District in the Dixieland neighborhood, This one of the busiest linkages in the city with over 24,000 cars/day passing the subject. The Central Business District has been growing rapidly with several news businesses opening including Swan Brewing and The Joinery, as well as several major development pieces such as Catapult and Heritage Plaza.
  • Located between Downtown and South Lakeland in the highly desirable Dixieland Historic District.
  • Located on South Florida Avenue and sees 24,500 per day
  • Very strong population density with approximately 39,000 people within a 2-mile radius.
  • Located on the north side of Historic Dixieland and just west of Florida Southern College, this area has been growing with more retail users and attracting a younger population.
  • Total of 31 private parking spaces
2/26/2020 6:03:29 PM 3/3/2020 3:13:10 PM
Glenn Folsom
Sales Associate
SVN Saunders Ralston Dantzler Real Estate
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