Model-T Dealership
Multi-Tenant Value Add
235 N Florida Ave
This historic building in Downtown Lakeland boasts over 100 feet of direct frontage on North Florida Avenue, of offering a prime redevelopment opportunity of Central Florida’s first Model -T dealership nestled in a bustling area surrounded by restaurants, hotels, and retail plazas. With a traffic flow of 21,000 vehicles per day, the two-story masonry structure features exposed beams, an attractive façade, and abundant natural light. Its open interior is versatile for single or multiple tenants, complete with fire suppression and a charming original 1920s elevator.
Proximity to attractions like Bonnet Springs Park and Lake Mirror enhances its potential, making this landmark a blank slate for innovative renovations. Seize this chance to make a significant impact in Downtown Lakeland.
OVERVIEW
Purchase: $1,600,000
Exit (7% CAP) $3,620,000
Raising $1,800,000
Target IRR 12%
Minimum investment $90,000
DISTINCT ADVANTAGE
PRIME DEVELOPMENT
This is the final historic building in Downtown Lakeland that remains untouched. We will be a unique historic landmark in the Downtown space with prime frontage, and excellent utility for modern users.
FAVORABLE TERMS
With our Seller Financing option, we have a $4,500 mortgage and $3,000 in monthly expenses. Even with conservative leasing projections, we can achieve $22,000 in monthly income. Giving a net monthly income of $14,500*.
*without additional rooftop space
+ 8,000 SF LEASING
Building out an additional 8,000 square feet of rooftop space creates ample opportunities for various income-generating tenants. This will boost rental potential and increase overall foot traffic. As a result, this will produce additional income of an estimated $10,000 per month.
Contact us
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