Duplex With Garages And
New
For Sale
$399,000
1108 JEWEL Avenue, Lakeland, FL 33805
Residential Income, LAKELAND, FL
Property Size2,040 SF
Lot Size0.19 Acres
Price / SF$195.59
Days on Market3
Property Features for 1108 JEWEL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RB-1
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 4, Dining Room, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 3, Bathroom 1
Parking features
Driveway
Patio and Porch features
Porch
Interior features
Living Room/Dining Room Combo, Primary Bedroom Main Floor, Thermostat, Walk-In Closet(s)
Exterior features
Sliding Doors
Appliances
Range
Subdivision
WESWEGO SUB
Elementary school
Lincoln Avenue Academy
Middle school
Lawton Chiles Middle
High school
George Jenkins High
Directions
Headed West on Memorial, Turn right on Jewel. Lot will be on the left handside.
Standard status
Active
APN
23-28-11-033000-006020
Size
2,040 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WESWEGO SUB PB 8 PG 11 BLK 6 LOT 2
Tax Annual Amount
297
Legal Description
WESWEGO SUB PB 8 PG 11 BLK 6 LOT 2
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Building materials
Stucco
Roof type
Shingle
Listing Agency:
KELLER WILLIAMS REALTY
(863) 577-1234
Listed By:
Daryl Ash, II · License #3283301
(863) 934-1548
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 5:06PM
MLS# L4964475
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.
Plans are on file for a duplex-style residential building totaling 2,040 square feet. The proposed layout includes two 3-bedroom, 2-bath residences, with garages and porches serving the individual units. Interior plans identify combined living and dining areas, main-level primary bedrooms, walk-in closets, and range appliances. The building is planned with stucco construction, shingle roofing, central heating, and central air conditioning.
The property encompasses 0.19 acres at 1106 and 1108 Jewel Avenue in Lakeland, Florida. It carries RB-1 zoning, with public water and public sewer identified for the site. Cable service is listed as available, and driveway parking is included among the exterior features.
The property encompasses 0.19 acres at 1106 and 1108 Jewel Avenue in Lakeland, Florida. It carries RB-1 zoning, with public water and public sewer identified for the site. Cable service is listed as available, and driveway parking is included among the exterior features.
Key Highlights
- Two 3‑bedroom, 2‑bath units planned within a duplex‑style building
- 2,040 square feet of proposed residential building area
- 0.19‑acre site at 1106 and 1108 Jewel Avenue
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
$21,630
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
5.42%
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%
$432,600
$432.6K
Cap Rate 7%
$309,000
$309.0K
Cap Rate 9%
$240,333
$240.3K
Market Conditions
NOI Build-Up for 2,040 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
$33.0K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.9K $15.15/SF
− OpEx
−$9.3K −$4.54/SF
NOI
$21.6K $10.60/SF
Area
Lakeland, 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%
$432,600
Cap Rate 7%
$309,000
Cap Rate 9%
$240,333
Alternative Uses
Best Use
Multifamily LT 5
$309.0K
$270.4K – $360.5K
NOI $21,630 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$276.0K
$241.5K – $322.1K
NOI $19,323 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$490.2K
$429.0K – $571.9K
NOI $34,316 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 33805, FL
26,954
Population
11,908
Households
2.3
Avg Household Size
36
Median Age
17%
College-Educated
82%
High-School Grad
26.0 sq mi
ZIP Area
1,037
Density / Sq Mi
$55,565
Median Household Income
$35,077
Median Earnings
$1,179
Median Rent
$173,800
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?
Duplex - Proposed two-unit residence includes three-bedroom layouts, private porches, and garage space for each home.
Where is this duplex located?
The property is located at 1108 JEWEL Avenue Lakeland, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units planned within a duplex‑style building; 2,040 square feet of proposed residential building area; 0.19‑acre site at 1106 and 1108 Jewel Avenue
