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625 Lime St - Fully Entitled Multi-Family Site in Downtown 0.89 Acres of Commercial Land Offered at $2,191,536 CAD in Lakeland, FL 33801
Investment Highlights
- Shovel-ready multifamily development site in downtown Lakeland
- Unit mix includes 40 one-bedroom and 8 two-bedroom residences
- Walking distance to Barnett Park, Hollis Garden, The Joinery, Lake Mirror, and Lake Morton
- Two parcels with approved plans and entitlements for 48 total units
- Backed by developer incentives from the City of Lakeland
Executive Summary
This property is perfectly positioned to take advantage of downtown’s ongoing transformation. In recent years, thousands of jobs have shifted into the area with the arrival of major projects like the new Summit building and Publix’s Downtown IT headquarters. Just steps away, residents can enjoy Barnett Park, Hollis Garden, The Joinery food hall, Lake Mirror, and Lake Morton. With downtown’s live-work-play renaissance in full swing, this location offers not only lifestyle convenience but also strong long-term value.
Property Facts
| Price | $2,191,536 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.89 AC |
| Property Type | Land | ||
| Zoning | O-1 | ||
| Price | $2,191,536 CAD |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.89 AC |
| Zoning | O-1 |
1 Lot Available
Lot
| Price | $2,191,536 CAD | Lot Size | 0.89 AC |
| Price Per AC | $2,462,399.94 CAD |
| Price | $2,191,536 CAD |
| Price Per AC | $2,462,399.94 CAD |
| Lot Size | 0.89 AC |
Fully permitted 48-unit multi-family development site offers a rare, shovel-ready opportunity in the heart of downtown Lakeland. Located at the corner of Lime Street and Indiana Avenue in the charming Garden District.
Description
This fully permitted multi-family development site offers a rare, shovel-ready opportunity in the heart of downtown Lakeland. Located at the corner of Lime Street and Indiana Avenue in the charming Garden District, the property includes two parcels with approved plans and entitlements for 48 units—backed by valuable developer incentives from the City of Lakeland. The thoughtfully designed unit mix features 40 one-bedroom, one-bath residences and 8 two-bedroom, two-bath homes, ideally suited to meet the area’s strong and growing rental demand. This property is perfectly positioned to take advantage of downtown’s ongoing transformation. In recent years, thousands of jobs have shifted into the area with the arrival of major projects like the new Summit building and Publix’s Downtown IT headquarters. Just steps away, residents can enjoy Barnett Park, Hollis Garden, The Joinery food hall, Lake Mirror, and Lake Morton. With downtown’s live-work-play renaissance in full swing, this location offers not only lifestyle convenience but also strong long-term value. *The asking price of $1,800,000 is derived from a 2025 appraisal.
Property Taxes
| Parcel Numbers | Improvements Assessment | $279,254 CAD | |
| Land Assessment | $213,906 CAD | Total Assessment | $493,160 CAD |
Property Taxes
Contacts
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David Hungerford -
Joey Hungerford -
Saunders Ralston Dantzler Commercial Real Estate
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625 Lime St - Fully Entitled Multi-Family Site in Downtown
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