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1937 E Memorial Blvd
Lakeland, FL 33801
Retail Property For Sale

Investment Highlights

  • Great retail visibility due to frontage along E Memorial Blvd
  • Freestanding building without HOA or neighbor nuisances
  • Excellent truck access and parking

Executive Summary

High visibility (estimated 37k cars per day) freestanding property with great truck access and tons of parking space in growing area off E Memorial Blvd in Lakeland! This Turn Key property is ready to go and already profitable with 4 tenants (including owner in one section), yet has options for new owner to use space right away if desired! Additionally outside of the 2,200 square feet, the corner of property includes 3 tractor trailers and metal building for additional storage space! Main showroom is leased to reliable-rent paying smoke shop business who have done significant tenancy improvements, which are in addition to several other renovation improvements to the property in the past 3 years including:
--New Roof (2022) by licensed contractor with proper permitting, with joist assessment and reinforcement throughout building prior to roofing, and new sheeting under roof layers where needed, and new flashing where needed.
--Bathroom layout redesigned (2022) by architect and renovated by licensed general contractor including new drawings and proper permitting, allowing retail business to comply with city and county requirements for opening a retail business.
--Licensed plumbing upgrades (2022) to property including digging/connecting new water line to city utility.
--Major cosmeticians functionality improvements including new ceiling tiles, painting and carpentry throughout showroom, entrance ramp, and more (2022).
--Power washing and painting exterior of building (2022). Front of building has been painted multiple times by tenants since then.
--Chain Link Fence construction (2025) separating parking lot from back yard area, including 4 new access gates to yards on both sides of the building and new gate in area protecting air conditioning unit and where refuse/recycling bins are stored. ***NOTE-- PHOTOS IN THIS PROMOTION MAY BE OUTDATED AND NOT SHOW THE NEW CHAINLINK FENCE***
-- Showroom improvements by new tenant (2025) electrical switches, plugs, and lights added and upgraded through showroom, new flooring, new professional slatted walls for retail, new security bars installed over windows and doors, retail display casing throughout, yard security light, security system with alarm and cameras, and more.
--ACT Environmental Phase 1 Assessment (2021) ensuring environmental due diligence to property.

Property Facts

Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,200 SF
Building Class
B
Year Built/Renovated
1950/2024
Price
$692,000
Price Per SF
$314.55
Cap Rate
8.20%
NOI
$56,744
Percent Leased
61%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.06
Lot Size
0.78 AC
Zoning
C-2 - retail, services, and some light manufacturing, typically located at major intersections or arterial roadways to serve surrounding neighborhoods.
Parking
10 Spaces (4.55 Spaces per 1,000 SF Leased)
Frontage
170’ on E Memorial Blvd

Property Taxes

Property Taxes

Parcel Number
24-28-17-193000-021120
Land Assessment
$129,455
Improvements Assessment
$146,527
Total Assessment
$275,982
  • Listing ID: 37380490

  • Date on Market: 8/22/2025

  • Last Updated:

  • Address: 1937 E Memorial Blvd, Lakeland, FL 33801

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