Updated Two-Story Office
For Sale
$125,000
Pending
6700 S FLORIDA Avenue, Lakeland, FL 33813
Commercial Sale, LAKELAND, FL
Property Size924 SF
Lot Size0.01 Acres
Days on Market158
Property Features for 6700 S FLORIDA Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Window features
Blinds
Appliances
Microwave
Subdivision
IMPERIAL CHRISTINA COVE A COMM
Lot features
Retail Condo, Sidewalk, Waterfront, Wooded
View
Lake
Directions
Heading south on Hwy 37, take a left hand turn into Imperial Christina Cove. Destination will be suite 2 on left hand side of building.
Standard status
Pending
APN
23-29-24-141884-000020
Size
924 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
IMPERIAL CHRISTINA COVE COND BK 8 PG 11 OR 2329 PGS 766 THRU 817 UNIT 2 & AN UNDIVIDED SHARE IN THE COMMON ELEMENTS AS PER CONDO DECLARATION
Tax Annual Amount
1813
Legal Description
IMPERIAL CHRISTINA COVE COND BK 8 PG 11 OR 2329 PGS 766 THRU 817 UNIT 2 & AN UNDIVIDED SHARE IN THE COMMON ELEMENTS AS PER CONDO DECLARATION
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Water front features
Lake Front
Water front
1
Amenities
lake views
balcony
private restroom
kitchenette
conference space
Building Details
Year built
1985
Flooring type
Carpet, Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
CLARK REALTY LLC
(863) 345-2155
Listed By:
Gwen Clark · License #3290673
(863) 559-6413
Added: Mar 27
Changed: Aug 28
Last Checked: Aug 31 at 8:06AM
MLS# L4960541
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 924-square-foot office unit is arranged across two stories with multiple private offices, an open work area, and a conference or client meeting room. Large windows face the lake, while a balcony adds outdoor waterfront space. The interior includes laminate and carpet flooring, updated lighting, wood-look finishes, a kitchenette with cabinetry and break area, a private restroom, and additional flexible-use rooms. Central heating and central air provide building climate control.
Built in 1985 with block construction, the property includes public water and public sewer service, along with phone availability. The office is located at 6700 S Florida Avenue in Lakeland, Florida, with access to major roadways. Its configuration supports medical, professional, administrative, or creative office uses as described in the property information.
Built in 1985 with block construction, the property includes public water and public sewer service, along with phone availability. The office is located at 6700 S Florida Avenue in Lakeland, Florida, with access to major roadways. Its configuration supports medical, professional, administrative, or creative office uses as described in the property information.
Key Highlights
- 924 SF two‑story office unit with multiple private offices and an open work area
- Lake‑front setting with large water‑facing windows and a balcony
- Conference or client meeting room with expansive lake views
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
$11,351
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
9.08%
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%
$227,020
$227.0K
Cap Rate 7%
$162,157
$162.2K
Cap Rate 9%
$126,122
$126.1K
Market Conditions
NOI Build-Up for 924 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
$19.4K $21.00/SF
− Vacancy
−$4.3K −$4.62/SF
EGI
$15.1K $16.38/SF
− OpEx
−$3.8K −$4.10/SF
NOI
$11.4K $12.29/SF
Area
Lakeland, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$227,020
Cap Rate 7%
$162,157
Cap Rate 9%
$126,122
Alternative Uses
Best Use
Healthcare Medical
$165.9K
$145.1K – $193.5K
NOI $11,611 @ 7.0% cap · market cap 9.29%
Second Best
Office B
$162.2K
$141.9K – $189.2K
NOI $11,351 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$222.0K
$194.3K – $259.1K
NOI $15,543 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Explore this area
Business Placement
Demographics for 33813, FL
36,448
Population
14,787
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
1,736
Density / Sq Mi
$96,723
Median Household Income
$50,581
Median Earnings
$1,637
Median Rent
$330,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Lake frontage, balcony views, private offices, and a kitchenette support professional office use.
Where is this office units located?
The property is located at 6700 S FLORIDA Avenue Lakeland, FL.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 924 SF two‑story office unit with multiple private offices and an open work area; Lake‑front setting with large water‑facing windows and a balcony; Conference or client meeting room with expansive lake views
