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$525,000
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Property Description
Prime commercial opportunity in the heart of Lakeland's rapidly evolving Memorial Boulevard corridor. Situated on E. Memorial Boulevard (US 92), this freestanding restaurant enjoys exceptional frontage, outstanding visibility, and exposure along one of the city's busiest commercial thoroughfares. The Memorial Boulevard corridor is the focus of significant public and private investment aimed at attracting new businesses, revitalizing the area, and supporting continued economic growth. This approximately 4,130-square-foot turnkey restaurant is fully equipped for high-volume food service and offers everything needed to open or expand your business. The commercial kitchen features more than 20 gas burners, a full commercial hood and exhaust system, spacious food preparation areas, and oversized walk-in cooler and freezer. The sale includes the dining furniture and over $60,000 in restaurant equipment, providing substantial value and reducing startup costs. Guests and staff will appreciate approximately 43 parking spaces, with additional parking available on the adjacent parcel (Parcel ID 24-28-07-171000-005030). A recently installed HVAC system adds further value. The location is minutes from Downtown Lakeland, Lakeland Regional Health, Bonnet Springs Park, hotels, retail centers, government offices, and numerous established businesses. Convenient access to Lakeland Hills Boulevard, US 98, and I-4 provides connectivity to both the Tampa and Orlando metropolitan markets, making this an ideal destination for local customers and regional visitors alike. Whether you're launching an independent concept, expanding an existing restaurant, or bringing a national franchise to Lakeland, this highly visible, fully equipped property presents a rare opportunity in one of Central Florida's fastest-growing commercial corridors.
Full Property Details
Full Property Details for 518 E Memorial Blvd
General
- Price: $525,000
- Taxes: $3,217 (2025)
- Status: Active
- Type: Commercial
- Source: MidFloridaRegionalMLS
- MLS ID: O6421987
- Updated: 8/14/2026
- Added to Site: 62 day(s) ago
Interior
- Appliances: Refrigerator
- Flooring: Tile
Location
- Area: 33801 - Lakeland
- County: Polk
- Development Name: 33801 - Lakeland
- Subdivision: BON AIR ADD
- Driving Directions: From the surrounding Lakeland area, travel along E. Memorial Boulevard (US-92) toward downtown Lakeland. Continue on E. Memorial Boulevard until you reach 518 E. Memorial Hwy., Lakeland, FL 33801. The property is located on the right-hand side of the road, just east of N. Florida Avenue, making it easily accessible from the main roadway.
Community
- Community Name: 33801 - Lakeland
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Available, Natural Gas Available, Public, Water Connected
Structural Information
- # Buildings: 1
- Exterior Const.: Block, Brick
- Roof: Other, Shingle
- Square Feet: 4,130
- Sq. Ft. Source: Public Records
- Year Built: 1970
Lot Features
- Lot Size (Acres): 0.43
- Lot Size (Sq. Ft.): 9,405
- Lot Size: 9405
- Frontage: Business District, City Street
- Street/Road Desc.: Asphalt
Financial Considerations
- Tax Amount: $3,217
- Tax Year: 2025
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: None
- Legal Description: BON AIR ADD PB 1 PGS 114 & 115 BLK 5 LOT 4 LESS HWY
- Flood Zone Info: X
- APN: 242807171000005040
- Property ID: 242807171000005040
- Block/Lot/Section: 5
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.
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Schools
Schools serving 518 E Memorial Blvd
School District:Polk County School District
| Name | Grades | Distance |
|---|---|---|
Carlton Palmore Elementary School 3725 Cleveland Heights Boulevard, Lakeland, FL 33803 | PK-5 | 4.1 mi |
Lakeland Highlands Middle School 740 Lake Miriam Drive, Lakeland, FL 33813 | 6-8 | 5.4 mi |
Tenoroc High School 4905 Saddle Creek Road, Lakeland, FL 33801 | 9-12 | 5.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 518 E Memorial Blvd
Date
Details
Price
Change
Source
8/14/2026
Price Reduced
$525,000
-6.08%
MLS
7/10/2026
Listed
$559,000
256.05%
MLS
9/12/2000
Sold
$157,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 518 E Memorial Blvd
Year
Property Taxes
Change
Tax Assessment
Change
2025
$3,217
5%
$178,324
5%
2024
$3,078
-4%
$170,467
-3%
2023
$3,214
16%
$176,296
20%
2021
$2,777
-9%
$146,820
-16%
2022
$3,040
9%
$174,822
7%
2021
$2,777
-8%
$163,161
3%
2017
$3,024
—
$158,544
3%
2017
$3,024
6%
$153,702
8%
2016
$2,843
2%
$142,310
4%
2015
$2,782
-10%
$136,765
-14%
2019
$3,105
13%
$159,362
14%
2014
$2,747
-6%
$140,118
-4%
2013
$2,911
—
$145,823
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 518 E Memorial Blvd
518 E Memorial Boulevard, Lakeland, FL 33801 (MLS# O6421987) is a Commercial property. 518 E Memorial Boulevard is currently listed for $525,000 and was received on July 10, 2026. This property is listed by David Plasencia, Esq. from our Winter Park Office.Want to learn more about 518 E Memorial Boulevard? Do you have questions about finding other Commercial real estate for sale in Lakeland? You can browse all Lakeland real estate or contact a Coldwell Banker agent to request more information.


