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115 S Missouri Ave
Lakeland, FL 33815
Bldg 1 · Office Property For Sale
Investment Highlights
- Stable and Diversified Tenant Base: The property is leased to a diversified mix of state agencies, healthcare providers, and educational users.
- Institutional Scale with Ample Parking: The asset totals 107,512 square feet, and the site includes approximately 375 parking spaces.
- Strategic Central Florida Location: Lakeland’s position between Tampa and Orlando along the Interstate 4 corridor continues to attract employers.
- High Occupancy with Embedded Upside: Occupancy stands at 97.4 percent, providing immediate cash flow while preserving leasing flexibility.
- Strong In-Place Cash Flow: The property generates $1,795,764 of in-place net operating income, providing a 10.25% capitalization rate.
Executive Summary
Institutional Property Advisors is pleased to present 115 South Missouri Avenue, a 107,512-square-foot, multitenant office property located in Downtown Lakeland, Florida. The property is situated on approximately 4.8 acres within Lakeland’s Central Business District and benefits from convenient access to Interstate 4 and the broader Tampa-Orlando corridor.
The asset is 97.4 percent occupied and leased to a diversified mix of government, healthcare, education, and professional service tenants. The rent roll provides durable in-place cash flow with a weighted average lease term of approximately 4 years and 7 months, while maintaining flexibility through upcoming lease expirations that allow an investor to capture future rental upside.
115 South Missouri Avenue offers the opportunity to acquire an institutional-scale office asset in a growing Central Florida market supported by stable tenancy, limited downtown supply, and long-term employment drivers.
The asset is 97.4 percent occupied and leased to a diversified mix of government, healthcare, education, and professional service tenants. The rent roll provides durable in-place cash flow with a weighted average lease term of approximately 4 years and 7 months, while maintaining flexibility through upcoming lease expirations that allow an investor to capture future rental upside.
115 South Missouri Avenue offers the opportunity to acquire an institutional-scale office asset in a growing Central Florida market supported by stable tenancy, limited downtown supply, and long-term employment drivers.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
43,352 SF
Building Class
B
Year Built
1960
Price
$17,525,000
Price Per SF
$404.25
Cap Rate
10.25%
NOI
$1,795,764
Percent Leased
97%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
8,670 SF
Building FAR
0.21
Lot Size
4.80 AC
Opportunity Zone
Yes
Zoning
C-6 - Downtown Commercial District
Property Taxes
| Parcel Number | 23-28-13-068500-011021 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $8,249,668 |
Property Taxes
Parcel Number
23-28-13-068500-011021
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$8,249,668
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