Stabilized Downtown Lakeland Investment Property

120-124 S Kentucky Ave, Lakeland, FL 33801

Property Information

  • For Sale $1,200,000
  • Property Type Retail - Street Retail
  • Property Size 4,200 SF
  • Units 1
  • Lot Size 0.12 Acre
  • Building Class C
  • Year Built 1969
  • Date Updated Jul 24, 2026

Description

Located in the heart of Lakeland, FL, the area surrounding the property is a vibrant hub for retail and street retail investments. With its charming historic downtown, lively local eateries, and upscale shopping, the location offers a dynamic environment for businesses to thrive. Nearby points of interest include the renowned Polk Museum of Art, the popular Lakeland Square Mall, and the picturesque Lake Mirror Promenade. This prime location provides an attractive mix of foot traffic and high visibility, making it an excellent opportunity for retail investors seeking a bustling and well-connected setting to establish their business.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 spaces 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. 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 100,000 ± vehicles per day.

Highlights

  • 100% leased with established tenants with each of 15+ years and stable income. 3% annual increases
  • 5 designated parking spaces in the rear of the property
  • Current annual income - $69,034
  • Just Dance is a family oriented business, with an strong track record. This space is fairly wide open, with a combination of laminate and tile floors and one bathroom. Current rent for Just Dance is $31,857 per year with 3% annual increases. Lease expires 10/31/26. Tenant does have options
  • Prime downtown location, zoned C-7, City of Lakeland. Uses abound in this zoning classification, but include retail, office and restaurant
  • This is very close to a NNN arrangement. Owner pays property taxes, and insurance. TENANT RESPONSIBLE FOR - HVAC, plumbing electrical, and interior maintenance

Contacts

Location

Located at 120-124 S Kentucky Ave, Lakeland, FL 33801, this property is part of the Downtown Lakeland neighborhood and Tampa St Petersburg Clearwater market.

Contact Listing Broker
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