1506 OLIVE STREET LAKELAND FL 33815 | MLS #L4964864

Rare infill redevelopment opportunity in Lakeland consisting of a five-parcel assemblage totaling approximately 8.15 gross acres based on parcel information assembled for the offering. The assemblage includes an existing approximately 1,472-SF improvement at 1506 Olive Street.
Significant land-use, zoning and pre-development work has already been completed. City of Lakeland Ordinance 5946 established PUD (Planned Unit Development) zoning on an approximately 9.1-acre project area to allow a three-story multifamily residential development with a maximum of 96 dwelling units, subject to the conditions of the ordinance and subsequent development approvals. The PUD legal description includes certain closed street and alley areas, and the ordinance separately addresses existing rights-of-way and easements. Buyers should independently verify the relationship between the listed parcel acreage and the larger PUD area through current survey, title and recorded documents.
Seller-provided materials report substantial due-diligence and pre-development work has been completed or assembled, including boundary and topographic surveys, tree survey, geotechnical investigation and soil borings, Phase I and Phase II environmental assessments, civil engineering, utility coordination, easement and utility mapping, conceptual site planning and supporting development documentation. Additional market, stormwater and construction-cost materials are also available for review by qualified buyers.
Seller-provided materials identify the property as being located within a Qualified Opportunity Zone, Qualified Census Tract (QCT) and Targeted Employment Area (TEA), and identify potential workforce-housing and impact-fee benefits for qualifying development. All geographic designations, tax treatment, financing programs, incentives, impact-fee programs and eligibility requirements must be independently verified by buyer and buyer’s tax, legal, financial and development professionals. No particular tax, financing or governmental benefit is guaranteed.
The current development concept includes workforce and veteran housing. September 2026 correspondence from a Lakeland City Commissioner acknowledges the potential for additional workforce and veteran housing and renewed investment in the surrounding community and encourages continued dialogue as the project proceeds through the appropriate review process. The correspondence expressly states that it was provided in the Commissioner’s individual capacity and does not constitute an official endorsement or position of the City of Lakeland or the City Commission.
The property presents an opportunity for a developer, builder, investor or housing partner to acquire an infill site with an established PUD framework and substantial pre-development work already undertaken. Seller is seeking an expedited transaction and encourages serious offers from qualified purchasers with the ability to conduct due diligence and close quickly. Extensive property, PUD and due-diligence materials are available for review.