Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1962 CRYSTAL GROVE DRIVE Lakeland, FL 33801

    View on Map
    Claim this Listing
    New
    For Sale
    $700,000

    Quadruplex - LAKELAND, FL

    Type:Quadruplex
    Property size:
    4,056 SF
    Lot size:
    0.27 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 15 at 7:06 pm

    Property Features for 1962 CRYSTAL GROVE DRIVE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Zoning
    PUD
    Bedrooms
    8
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Interior features
    Thermostat
    Exterior features
    Fence, Sidewalk
    Fencing
    Fenced
    Standard status
    Active
    APN
    24-28-28-247010-017321
    Size
    4,056 SF
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    5943

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1986
    Number of units
    1
    Building materials
    Concrete, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Ken Jones

    Listing agent Ken Jones License #3342591

    Listing office EXP REALTY LLC 10752 Deerwood Park Blvd., Suite 100, Jacksonville, FL

    Listing date Apr 15, 2026

    MLS# TB8497949 Listing URL

    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.

    Overview

    Lakeland Quadruplex: Income Opportunity

    This quadplex in Lakeland, Florida, presents an income-producing opportunity, generating approximately $70,000 in annual gross rental income. The property comprises four units, each designed to attract and retain long-term tenants, ensuring stability and minimal vacancy. Its location provides convenient access to major roadways, shopping centers, dining establishments, and employment hubs, enhancing its appeal within a robust rental market. The estimated Net Operating Income (NOI) is $49,000, with estimated operating expenses at $21,000. Situated on a 0.27-acre lot, the property offers a desirable Central Florida location with potential for future rent growth. This asset is suitable for both experienced investors and those aiming to expand their portfolio with a performing property. The property size is 4,056 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coffee Transport Specialty Food Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.914269
    Latitude
    28.018837

    Nearby Similar for Sale

    • $569,000

      Lakeland Commercial Property Investment Opportunity

      Prime commercial property near Florida Avenue in Lakeland, Florida.
      305 & 309 W MEMORIAL BOULEVARD, LAKELAND, FL 33801
      View Details
    • $850,000
      5,800 SF

      Warehouse and Office Space Available

      5,820 SF warehouse and office space in Lakeland, Florida.
      4459 HOLDEN ROAD, LAKELAND, FL 33811
      View Details
    • $899,000
      4,980 SF

      Lakeland Warehouse Ideal for Automotive

      Versatile 4,980 SF building on 0.51 acres in Lakeland.
      125 COMPLEX DRIVE, LAKELAND, FL 33801
      View Details
    • $750,000
      8,591 SF

      Lakeland Assembly Building For Sale

      Income-producing property with development potential in Lakeland, Florida.
      4626 S PIPKIN ROAD, LAKELAND, FL 33811
      View Details
    • $1,500,000
      3,192 SF

      Turnkey Restaurant and Bakery Opportunity

      Restaurant and bakery in Lakeland, ready for immediate re-opening.
      830 E MAIN STREET, LAKELAND, FL 33801
      View Details
    • $649,900
      2,624 SF

      Income-Producing Quadplex Near Florida Southern

      Fully occupied quadplex near Florida Southern College with immediate cash flow.
      201 ARIANA STREET, LAKELAND, FL 33803
      View Details
    • $125,000
      924 SF

      Updated Office Suite with Lake Views

      Updated office suite with functional layout, natural light, lake views.
      6700 S FLORIDA AVENUE, LAKELAND, FL 33813
      View Details
    • $299,900
      2,515 SF

      Lakeland Duplex on Oversized Lot

      Investment opportunity: two homes on one large lot.
      3221 & 3225 CRUTCHFIELD ROAD, LAKELAND, FL 33805
      View Details
    • $350,000
      1,510 SF

      Renovated Duplex in Lakeland, Florida

      Completely renovated duplex in a quiet neighborhood. Investment opportunity.
      4710 FERNERY LANE, LAKELAND, FL 33809
      View Details
    • $150,000
      3,600 SF

      Established Smoke Shop in Lakeland

      Turn-key smoke shop in high-traffic Lakeland corridor for sale.
      2810 FLORIDA Avenue S, Lakeland, FL 33803
      View Details
    • $314,900
      1,842 SF

      Lakeland Duplex Investment Opportunity

      Income-producing duplex near Lake Gibson with long-term upside potential.
      281 & 283 LEELON ROAD, LAKELAND, FL 33809
      View Details
    • $1,375,000
      7,241 SF

      Lakeland Multifamily Investment Opportunity

      Nine-unit multifamily property in Lakeland's Dixieland District.
      1005 S NEW YORK AVENUE, LAKELAND, FL 33803
      View Details

    FAQs

    What type of property is this?
    Quadplex - Income-producing quadplex in Lakeland, Florida, with strong rental demand.
    Where is this quadplex located?
    The property is located at 1962 CRYSTAL GROVE DRIVE Lakeland, FL.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: High Gross Annual Income: Approximately $70,000; Net Operating Income (NOI): $49,000; Stable occupancy with consistent rental demand
    (727) 510-1624
    We can help!
    Listing Contact
    Ken Jones
    Real Estate License ID: 3342591
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!