Lake Bonny Multifamily Development
Listing was updated at: 07/31/2019
Property Overview
Price/Rent PSF $ 150,000.00
Asset Type Land
Trade Type Sale
Acres Available 3.88
Date Available 07/31/2019
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Description

Location
Centrally located near US 98 S. just East of Downtown Lakeland, easy access to Polk Parkway and US 92, minutes from Publix Grove Park shopping center and Lake Hollingsworth. Next door to growing Southeastern University.

Sale
This land development is a 3.88± acres property located in the center of Lakeland near universities. The property has an PUD Multifamily zoning and includes 2 parcels.

Highest and best use is multifamily, the current PUD allow about 20 units from the last site plan (see brochure), potential change is available through the city including density modification, single family home and more. Utilities are available on site. Soils are Pompano and Tavares Fine Sand. Average daily traffic on US-98 is 40,500. Two access on the property are available through Willowpoint Estate or Honeytree Ln.

Property is located a couple minutes from Florida Southeastern University with about 5,800 students (a 30% increase from 2015!), 62 bachelor's, 20 master's and 4 doctoral degrees. Their athletics compete in almost 20 sports category. Florida Southern College is less than 2 miles away with 2,800 students. The Publix shopping center is less than 1 miles from the property and service grocery, pharmacy, restaurants and services. The multifamily has been low in supplies with a 4.2% vacancy rate & 6.9% market rent growth (as of Q1 2018).

Distances from development: Southeastern University: 0.9 miles - Florida Southern College: 1.7 miles - Downtown Lakeland: 2.8 miles - Polk Parkway: 2.6 miles - Interstate-4: 5.5 miles - Auburndale: 10.2 miles - Bartow: 10.8 miles - Winter Haven: 14 miles

Location