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120 S Kentucky Ave
Lakeland, FL 33801
Stabilized Lakeland Investment · Retail Property For Sale

Investment Highlights

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

Executive Summary

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.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
4,200 SF
Building Class
B
Year Built
1969
Price
$1,200,000
Price Per SF
$285.71
Cap Rate
5.02%
NOI
$60,293
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.85
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
C-7 - C-7, City of Lakeland
Parking
5 Spaces (1.19 Spaces per 1,000 SF Leased)
Frontage
41’ on KENTUCKY AVE

Amenities

  • 24 Hour Access
  • Restaurant
  • Tenant Controlled HVAC
  • Storage Space
  • Air Conditioning

Property Taxes

Property Taxes

Parcel Number
24-28-18-201000-017094
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$482,206
  • Listing ID: 41281603

  • Date on Market: 7/14/2026

  • Last Updated:

  • Address: 120 S Kentucky Ave, Lakeland, FL 33801

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