230 N Kentucky Avenue Lakeland Florida | Home for Sale
To schedule a showing of 230 N Kentucky Avenue, Lakeland, Florida, Call David Shippey at 863-521-4517 TODAY!
Lakeland, FL 33801
- 4Beds
- 10.00Total Baths
- 4 Full, 6 HalfBaths
- 12,548SqFt
- 2017Year Built
- 0.10Acres
- MLS# L4933697
- Residential
- SingleFamilyResidence
- Active
- Approx Time on Market2 months, 29 days
- Area33801 - Lakeland
- CountyPolk
- SubdivisionMunns Survey
Overview
The Sommer building, an historic 4-story building in the heart of one of the countrys fastest growing markets, offers an investor a unique, fully complete turn-key investment for their portfolio. A 6.15% cap rate on this property, under our conservative proforma, is based on current income & expenses projected forward for the new owner. With year one NOI projected at over $275,000, with the potential to be increased in coming years as given its proximity to Tampa, Orlando and all that Florida has to offer. With over 1,000 people per day moving into Florida and its very favorable tax environment. There are over 10,000,000 people within a 100-mile radius of Lakeland. Current owner will accept a leaseback the residential portion of the property for one year after closing, and the first floor retail tenant has a long-term in-place lease. Event space on second floor offers a host of income potential and has been underutilized (due to Covid) in the past. Multiple local restaurateurs could manage the space, or an owner could handle in-house with ease. There is no other comparable building in Polk county that offers this unique mixed use potential for an investor. Fully renovated in 2016, this property features a 4-stop elevator retail, ground floor, income space currently occupied by a boutique gift shop that has been in place for five plus years (15 yrs overall). Second floor is an event venue complete with caterers kitchen, ample storage, private elevator access and private bridal suite. The residential portion of this property is spread across three levels and no expense was spared in its development. The residential portion includes a three-car garage on the ground floor with private alley access; third floor living space with four bedrooms, monster kitchen and 4.5 baths; and fourth floor is 1300+ sf outdoor roof top deck and small interior entertainment space, all connected by both elevator and stairwell access. The first three story building constructed in downtown Lakeland, Florida, Circa 1920. Originally, the first floor operated as a furniture store, and the second and third floors provided boarding accommodations to travelers Passing through Lakeland. In 2014 it was known as the Peacock Building, with two well-known antique furniture and glass vendors on the first floor. The Second and third floors were annexed on the county real property tax role as they were structurally unsound. Construction began in mid 2014 with the removal of the original slab, interior walls, floors and roof. The project was completed in March of 2017. Every Component of the building was brought to current (2017) building codes, including life safety, structural, mechanical (hvac), electric and plumbing systems, a four-stop traction elevator, fire sprinkler and fire alarm systems. Moreover, every effort was made to utilize high efficiency systems and environmentally sustainable products wherever possible. The finished Product is a new building constructed in the 100+ year-old box. Additional property specifications: Completed remodel 2017, New concrete slab & footers, Schindler 3300 traction four stop elevator, Steel & wood structure rebuilt inside original brick walls, Earthquake anchoring, Double hung, low-E, thermo-pane windows, Ten new high efficiency HVAC units w/ roof mounted compressors, New 208v/3phase service to building, All ADA compliant, All electrical & plumbing completely new. (Detailed spec sheet & add'l info available upon request)
Agriculture / Farm
Grazing Permits Blm: ,No,
Grazing Permits Forest Service: ,No,
Grazing Permits Private: ,No,
Horse: No
Association Fees / Info
Community Features: StreetLights, Sidewalks
Pets Allowed: Yes
Senior Community: No
Association: ,No,
Bathroom Info
Total Baths: 10.00
Fullbaths: 4
Building Info
Window Features: Blinds, InsulatedWindows, WindowTreatments
Roof: Other
Buyer Compensation
Exterior Features
Patio: Patio, Balcony
Pool Private: No
Exterior Features: Balcony
Fees / Restrictions
Financial
Original Price: $4,295,000
Disclosures: DisclosureonFile,LeadBasedPaintDisclosure,SellerDi
Fencing: Vinyl
Garage / Parking
Open Parking: No
Attached Garage: Yes
Garage: Yes
Carport: No
Green / Env Info
Green Features: HVAC
Irrigation Water Rights: ,No,
Interior Features
Fireplace: No
Floors: Bamboo, Carpet, CeramicTile
Levels: ThreeOrMore
Spa: No
Laundry Features: Inside
Interior Features: BuiltinFeatures, CeilingFans, EatinKitchen, Elevator, HighCeilings, KitchenFamilyRoomCombo, LivingDiningRoom, OpenFloorplan, SolidSurfaceCounters, WalkInClosets, WindowTreatments, Loft
Appliances: Dishwasher, ElectricWaterHeater, Disposal, Microwave, Range, Refrigerator, RangeHood
Lot Info
Direction Remarks: Lake Morton to Kentucky to property, will be on your left past Munn Park
Lot Size Units: Acres
Lot Size Acres: 0.1
Lot Sqft: 4,225
Lot Desc: CityLot, HistoricDistrict, NearPublicTransit
Misc
Other
Special Conditions: None
Security Features: SecuritySystemOwned, SecuritySystem, FireAlarm, FireSprinklerSystem, SecuredGarageParking, KeyCardEntry, SmokeDetectors, SecurityLights
Other Rooms Info
Basement: No
Property Info
Habitable Residence: ,No,
Section: 18
Class Type: SingleFamilyResidence
Property Sub Type: SingleFamilyResidence
Property Condition: NewConstruction
Property Attached: No
New Construction: No
Construction Materials: Brick
Total Stories: 4
Mobile Home Remains: ,No,
Foundation: Slab
Home Warranty: ,No,
Human Modified: ,No,
Room Info
Total Rooms: 9
Sqft Info
Sqft: 12,548
Living Area Units: SquareFeet
Living Area Source: Owner
Tax Info
Tax Year: 2,022
Tax Lot: I
Tax Legal Description: MUNNS SURVEY DB G PG 392 BLK 6 LOTS I N 64 FT & N 64 FT OF K
Tax Block: 6
Tax Annual Amount: 14540
Tax Book Number: G-392
Unit Info
Rent Controlled: No
Utilities / Hvac
Electric On Property: ,No,
Heating: Central
Water Source: Public
Sewer: PublicSewer
Cool System: CentralAir, CeilingFans
Cooling: Yes
Heating: Yes
Utilities: CableAvailable, CableConnected, ElectricityAvailable, ElectricityConnected, NaturalGasAvailable, NaturalGasConnected, HighSpeedInternetAvailable, WaterConnected
Waterfront / Water
Waterfront: No
View: Yes
Water Body Name: LAKE MIRROR
View: City, ParkGreenbelt, Lake, Water
Directions
Lake Morton to Kentucky to property, will be on your left past Munn ParkThis listing courtesy of Bhhs Florida Properties Group
The information being provided by © 2023 My Florida Regional MLS DBA Stellar MLS is for the consumer's
personal, non-commercial use and may not be used for any purpose other than to
identify prospective properties consumer may be interested in purchasing. Any information relating
to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX)
program of the My Florida Regional MLS DBA Stellar MLS. XCELLENCE REALTY, INC is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of XCELLENCE REALTY, INC, a broker participant of My Florida Regional MLS DBA Stellar MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.
Images related to data from the MLS is the sole property of the MLS and not the responsibility of the owner of this website.
MLS IDX data last updated on 01-30-2023 5:51 PM EST.
If you have any questions on 230 N Kentucky Avenue, Lakeland, Florida, please call David Shippey at 863-521-4517.
MLS# L4933697 located at 230 N Kentucky Avenue, Lakeland, Florida is brought to you by David Shippey REALTOR®
230 N Kentucky Avenue, Lakeland, Florida has 4 Beds, 4 Full Bath, and 6 Half Bath.
The MLS Number for 230 N Kentucky Avenue, Lakeland, Florida is L4933697.
The price for 230 N Kentucky Avenue, Lakeland, Florida is $4,295,000.
The status of 230 N Kentucky Avenue, Lakeland, Florida is Active.
The subdivision of 230 N Kentucky Avenue, Lakeland, Florida is Munns Survey.
The home located at 230 N Kentucky Avenue, Lakeland, Florida was built in 2023.
Related Searches: Chain of Lakes Winter Haven Florida