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Multifamily Weekly
Polk County
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Tuesday, November 10, 2026 |
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Lakeland Owner Sells At 2.7x 2005 Price
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1501 Kennedy Blvd in Lakeland, 17 units built in 1976, sold in August for $2.635 million, or $155,000 a unit. The seller bought it in 2005 for $982,500. 207 NW Lake Silver Dr in Winter Haven, bought in April 2024 for $2.7 million, sold in July for $2.85 million. |
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| Property |
Units |
Price |
Price / unit |
207 NW Lake Silver Dr
Winter Haven · July 2026 |
23 |
$2.85M |
$124K |
1501 Kennedy Blvd
Lakeland · August 2026 |
17 |
$2.64M |
$155K |
953 6th St SE
Winter Haven · May 2026 |
10 |
$853K |
$85K |
7690 Lake Wilson Dr
Davenport · September 2026 |
250 |
$57.00M |
$228K |
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| 2BR Asking Rents By Submarket |
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| Submarket |
Avg 2BR |
| Lakeland |
$1,379 |
| Winter Haven |
$1,314 |
| Bartow |
$1,338 |
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| 158,000 |
| square feet in the Costco warehouse and gas station filed Nov. 4 for US 27 at Heller Brothers Boulevard in Davenport, the first in Polk (The Polk Squeeze, Nov 4) |
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| 114 |
| jobs GEICO is cutting at its regional office at 3535 W. Pipkin Road in Lakeland, effective Dec. 31 (Lakeland Gazette, Nov 4) |
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| $65.6M |
| a year from the 1-mill school property tax Polk voters approved Nov. 3, for four years (LkldNow, Nov 4) |
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Polk Voters Approve Additional Funds for Polk Schools
LkldNow · Nov 4
The 1-mill property tax passed with 60% of the vote and raises about $65.6 million a year for school employee pay and staffing for four years, with a vote on extending it in 2030. It costs $1 per $1,000 of taxable value, and an apartment building gets no homestead exemption: $1,500 a year on $1.5 million of taxable value.
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A Costco Is Coming To Davenport
The Polk Squeeze · Nov 4
Plans for a 158,000-square-foot Costco warehouse with a members-only gas station were filed with Polk County Nov. 4 for US 27 at Heller Brothers Boulevard. Costco has no Polk warehouse today; the closest are Clermont, south Orlando and Brandon. Retail anchors follow rooftops, and this one adds jobs to the Four Corners renter base.
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GEICO Layoffs: 114 Jobs Impacted at Lakeland Facility Starting Dec. 31
Lakeland Gazette · Nov 4
GEICO filed a WARN Act notice dated Nov. 2 covering 114 permanent job cuts at its regional office at 3535 W. Pipkin Road in Lakeland, effective Dec. 31. South Lakeland owners near Pipkin Road should watch renewals in the first quarter.
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My Take On Polk
Despite growth Polk is not immune from the market reset. The buyers from 2022 to 2024 have been facing mounting pressure from increased rates, taxes and insurance. 207 NW Lake Silver Dr in Winter Haven sold for $2.7 million in April 2024 and $2.85 million in July, 5.6% in two years, which is a loss after closing costs. 7690 Lake Wilson Dr in Davenport sold for $85.5 million in 2022 and $57 million in September. If you bought before 2020, the gain is there to take at $85,000 to $155,000 a unit for older product. If you bought after 2021, the market will not hand you a return. It has to come from the rent roll and the expense line, and the 1-mill school tax voters just approved goes on that expense line in 2027. Growth has its price.
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16 Units · $164,062 Per Unit Anchored in the Historic Old Northeast, St. Petersburg, FL
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Know what your building is worth before you need to.
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