Triplex With Commercial
For Sale
Under Contract
$389,900
875 S LAKE SHORE Way, Lake Alfred, FL 33850
Residential Income, LAKE ALFRED, FL
Property Size1,609 SF
Lot Size0.33 Acres
Price / SF$242.32
Days on Market43
Property Features for 875 S LAKE SHORE Way
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
C-1
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Laundry Room, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 3, Bedroom 6
Interior features
Ceiling Fans(s), Open Floorplan
Exterior features
Garden, Private Mailbox, Private Yard, Storage
Basement
Partial, Crawl Space
Subdivision
ROCHELLE TERRACE
Directions
Driving Directions from I-4 (Closest Interstate) From Interstate 4 (I-4) - Exit 48 (CR 557 / Lake Alfred): Take Exit 48 toward Lake Alfred / CR 557. Head south on CR 557 for approximately 2.5 miles. Turn left onto US Highway 17/92 (S Lake Shore Way). Continue for approximately 0.3 miles. 875 S Lake Shore Way will be on your right.
Standard status
Active Under Contract
APN
26-28-05-525000-002090
Size
1,609 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ROCHELLE TERRACE PB 8 PG 44 BLK 2 LOTS 9 & 10 LESS ST RD 600
Tax Annual Amount
4043
Legal Description
ROCHELLE TERRACE PB 8 PG 44 BLK 2 LOTS 9 & 10 LESS ST RD 600
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1945
Building materials
Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
LA ROSA REALTY LLC
(321) 939-3748
Listed By:
Christopher Rivera Alamo · License #3484310
(407) 883-5297
Added: Jul 27
Changed: Sep 2
Last Checked: Sep 7 at 8:06PM
MLS# S5154520
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 Lake Alfred triplex contains three grandfathered rental units within a 1,609-square-foot stucco building constructed in 1945. The property includes an open floor plan, ceiling fans, a laundry room, storage, private outdoor space, and a private mailbox. Central heating and central air support the interior, while the roof is finished with shingles.
The 0.33-acre parcel is served by public water and a septic tank, with cable available. C-1 zoning adds a commercial land-use designation to the property. Located at 875 S Lake Shore Way in Lake Alfred, the asset combines a three-unit configuration with established site improvements and residential rental use.
The 0.33-acre parcel is served by public water and a septic tank, with cable available. C-1 zoning adds a commercial land-use designation to the property. Located at 875 S Lake Shore Way in Lake Alfred, the asset combines a three-unit configuration with established site improvements and residential rental use.
Key Highlights
- Three grandfathered rental units
- 1,609‑square‑foot building on a 0.33‑acre parcel
- C‑1 zoning
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
$17,060
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
4.38%
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%
$341,200
$341.2K
Cap Rate 7%
$243,714
$243.7K
Cap Rate 9%
$189,556
$189.6K
Market Conditions
NOI Build-Up for 1,609 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
$26.1K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$24.4K $15.15/SF
− OpEx
−$7.3K −$4.54/SF
NOI
$17.1K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$341,200
Cap Rate 7%
$243,714
Cap Rate 9%
$189,556
Alternative Uses
Best Use
Multifamily LT 5
$243.7K
$213.3K – $284.3K
NOI $17,060 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$217.7K
$190.5K – $254.0K
NOI $15,240 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$386.7K
$338.3K – $451.1K
NOI $27,066 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 33850, FL
9,119
Population
4,947
Households
1.8
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
16.8 sq mi
ZIP Area
543
Density / Sq Mi
$53,877
Median Household Income
$36,563
Median Earnings
$1,072
Median Rent
$215,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three rental units occupy a stucco property with central heating, central air, storage, and a private yard.
Where is this triplex located?
The property is located at 875 S LAKE SHORE Way Lake Alfred, FL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three grandfathered rental units; 1,609‑square‑foot building on a 0.33‑acre parcel; C‑1 zoning
