High-Visibility Corner Retail
For Sale
$525,000
1605 W MEMORIAL Boulevard, Lakeland, FL 33815
SINGLE_FAMILY - LAKELAND, FL
Property Size2,910 SF
Lot Size0.45 Acres
Price / SF$180.41
Days on Market580
Property Features for 1605 W MEMORIAL Boulevard
General Information
Property type
Residential
Property subtype
Retail
Zoning
C-2
Subdivision
WESWEGO SUB
Directions
I-4 Exit Hwy 92 E. Go to Signalized Hard Corner at West Memorial and Brunnell Parkway Brunnell Pkwy.
Standard status
Active
APN
23-28-11-033500-009010
Size
2,910 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
WESWEGO SUB UNIT NO 2 PB 12 PG 15 BLK 9 LOTS 1 & 2 & THAT PORTION OF NORTH ST LYING BETWEEN BLK 9 & MEMORIAL BLVD
Tax Annual Amount
2938
Legal Description
WESWEGO SUB UNIT NO 2 PB 12 PG 15 BLK 9 LOTS 1 & 2 & THAT PORTION OF NORTH ST LYING BETWEEN BLK 9 & MEMORIAL BLVD
Utilities
Cooling system
Central Air
Building Details
Year built
1964
Floors in Building
1
Building materials
Block
Listing Agency:
LA ROSA REALTY LLC
(321) 939-3748
Listed By:
Earl Moore Jr. · License #3314553
(813) 803-0337
Added: Jan 13, 2025
Changed: Aug 13
Last Checked: Aug 16 at 2:06AM
MLS# TB8338134
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale retail property offers 2,910 square feet of space on a 0.45-acre lot. The listing describes a high-visibility corner location suitable for a range of business opportunities, subject to applicable use requirements.
The property is located at 1605 W Memorial Boulevard in Lakeland, Florida (33815), in Polk County. The asset is zoned C-2, which should be reviewed for permitted uses and requirements before proceeding.
For buyers or tenants evaluating retail options, this offering presents a standalone parcel configured for commercial use, with the key differentiator being its corner positioning and C-2 zoning.
The property is located at 1605 W Memorial Boulevard in Lakeland, Florida (33815), in Polk County. The asset is zoned C-2, which should be reviewed for permitted uses and requirements before proceeding.
For buyers or tenants evaluating retail options, this offering presents a standalone parcel configured for commercial use, with the key differentiator being its corner positioning and C-2 zoning.
Key Highlights
- 2,910 sq. ft. commercial space on a 0.5‑acre lot at 1605 W Memorial Blvd, Lakeland, FL
- Corner location at 1605 W Memorial Blvd
- Central air cooling
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,679
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$653,580
$653.6K
Cap Rate 7%
$466,843
$466.8K
Cap Rate 9%
$363,100
$363.1K
Market Conditions
NOI Build-Up for 2,910 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$50.6K $17.40/SF
− Vacancy
−$3.9K −$1.36/SF
EGI
$46.7K $16.04/SF
− OpEx
−$14.0K −$4.81/SF
NOI
$32.7K $11.23/SF
Area
Lakeland, FL
Vacancy
7.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$653,580
Cap Rate 7%
$466,843
Cap Rate 9%
$363,100
Alternative Uses
Best Use
Retail
$466.8K
$408.5K – $544.7K
NOI $32,679 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$699.3K
$611.9K – $815.9K
NOI $48,951 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
19k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
5,345 visits/mo
0.5 miles
Lakeland Ford
Shops & Services
5,072 visits/mo
0.5 miles
BP
Shops & Services
3,044 visits/mo
0.3 miles
Advance Auto Parts
Shops & Services
2,513 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,192 visits/mo
0.4 miles
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Corner retail property for sale in C-2 zoning, with 2,910 sq. ft. on a 0.45-acre lot.
Where is this retail space located?
The property is located at 1605 W MEMORIAL Boulevard Lakeland, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,910 sq. ft. commercial space on a 0.5‑acre lot at 1605 W Memorial Blvd, Lakeland, FL; Corner location at 1605 W Memorial Blvd; Central air cooling
