Freestanding Retail Building with Fenced
For Sale
$799,000
610 N COMBEE Rd, Lakeland, FL 33801
Fully air-conditioned retail interior with ADA restroom and ramp, plus gated rear access for flexible tenant layouts.
Property Size3,848 SF
Lot Size0.81 Acres
Price / SF$207.64
Days on Market88
Property Features for 610 N COMBEE Rd
General Information
Standard status
Active
Size
3,848 SF
Lot size
0.81 Acres
Property subtype
Commercial
Site & Location
Traffic Count
34,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$6,353
Building Details
Building Size
3,848 SF
Year Built
1982
Stories
1
Listing Agency:
FLORIDA REALTY INVESTMENTS
(813) 618-3279
Listed By:
Sujata Katikala · License #3057328
(813) 618-3279
Source:
Elliman
Added: Jun 3
Changed: Aug 27
Last Checked: Aug 28 at 2:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FLORIDA REALTY INVESTMENTS
Investment Insights
Based on property information with market context.
This freestanding retail commercial solid building offers 3,848 square feet of large, open interior space with full air-conditioning. The property includes an ADA-compliant restroom with a ramp, and a durable concrete roof. Zoning is described as flexible CAC, supporting a broad range of uses including retail, office, restaurant, convenience store, and automotive-related businesses.
The site is positioned one block from the busy intersection of N Combee Road and US-92/ Memorial Highway, with full frontage access on Combee Road. Visibility and access are reinforced by the surrounding tenant mix, including proximity across from a Harvey’s Supermarket Plaza and McDonald’s, with Taco Bell about a block away. The property also benefits from reported traffic counts of 16,000+ AADT on Combee Road and 34,000 AADT on US-92, with additional access at the rear from N Eastside Drive. The rear is fully fenced and gated, and there is room described for future expansion or added parking.
The open, air-conditioned configuration and ADA features make the space practical for operators seeking a customer-accessible footprint under flexible commercial zoning. The combination of full frontage on Combee Road and gated rear access may be useful for businesses that want separate areas for deliveries, storage, or controlled customer flow, depending on their site plan needs.
The site is positioned one block from the busy intersection of N Combee Road and US-92/ Memorial Highway, with full frontage access on Combee Road. Visibility and access are reinforced by the surrounding tenant mix, including proximity across from a Harvey’s Supermarket Plaza and McDonald’s, with Taco Bell about a block away. The property also benefits from reported traffic counts of 16,000+ AADT on Combee Road and 34,000 AADT on US-92, with additional access at the rear from N Eastside Drive. The rear is fully fenced and gated, and there is room described for future expansion or added parking.
The open, air-conditioned configuration and ADA features make the space practical for operators seeking a customer-accessible footprint under flexible commercial zoning. The combination of full frontage on Combee Road and gated rear access may be useful for businesses that want separate areas for deliveries, storage, or controlled customer flow, depending on their site plan needs.
Key Highlights
- 3,848 SF freestanding retail building with large open, fully air‑conditioned interior space
- 0.81‑acre lot with full frontage access on N Combee Road and additional access from N Eastside Drive
- ADA‑compliant restroom and ramp included
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
$43,213
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
5.41%
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%
$864,260
$864.3K
Cap Rate 7%
$617,329
$617.3K
Cap Rate 9%
$480,144
$480.1K
Market Conditions
NOI Build-Up for 3,848 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
$67.0K $17.40/SF
− Vacancy
−$5.2K −$1.36/SF
EGI
$61.7K $16.04/SF
− OpEx
−$18.5K −$4.81/SF
NOI
$43.2K $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%
$864,260
Cap Rate 7%
$617,329
Cap Rate 9%
$480,144
Alternative Uses
Best Use
Retail
$617.3K
$540.2K – $720.2K
NOI $43,213 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$924.7K
$809.1K – $1.08M
NOI $64,730 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
34,000 VPD
Traffic count
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
123k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 35%
Groceries 17%
Home Improvements & Furnishings 1%
McDonald's
Dining
30,203 visits/mo
0.2 miles
Harveys Supermarket
Groceries
21,070 visits/mo
0.2 miles
Sunoco
Shops & Services
13,372 visits/mo
0.2 miles
Shell
Shops & Services
11,687 visits/mo
0.4 miles
Taco Bell
Dining
10,183 visits/mo
0.1 miles
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully air-conditioned retail interior with ADA restroom and ramp, plus gated rear access for flexible tenant layouts.
Where is this retail space located?
The property is located at 610 N COMBEE Rd Lakeland, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,848 SF freestanding retail building with large open, fully air‑conditioned interior space; 0.81‑acre lot with full frontage access on N Combee Road and additional access from N Eastside Drive; ADA‑compliant restroom and ramp included
