Flex Space with Loading
For Sale
$1,250,000
1604 OLIVE STREET, Lakeland, FL 33815
Combined warehouse and office improvements include roll-up access, fenced storage, and on-site parking.
Property Size8,716 SF
Lot Size0.60 Acres
Price / SF$143.41
Days on Market48
Property Features for 1604 OLIVE STREET
General Information
Standard status
Active
Size
8,716 SF
Lot size
0.60 Acres
Property subtype
Warehouse
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Gross Income
$60,000
Building Details
Year Built
1942
Buildings
1
Building Size
8,716 SF
Listing Agency:
CENTURY 21 MYERS REALTY
(863) 875-5656
Listed By:
Tony Acosta · License #3589261
(863) 224-5956
Source:
Dennisrealty
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 16 at 8:36AM
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 CENTURY 21 MYERS REALTY
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Investment Insights
Based on property information with market context.
Located at 1604 Olive Street in Lakeland, this 8,716-square-foot flex property occupies approximately 0.60 acres and combines open warehouse areas with finished office and workspaces. The building includes roll-up access, a loading dock, fenced outdoor storage, paved on-site parking, and newly installed interior LED lighting. Constructed in 1942, the property provides a mix of functional industrial and office improvements.
Approximately 4,000 square feet is occupied by a month-to-month tenant, while the balance remains vacant. The existing arrangement provides current rental occupancy alongside available space within the same building. The property also offers access to I-4 and nearby Lakeland business corridors. Potential applications described for the building include warehouse, distribution, automotive, storage, and other general commercial operations, subject to verification of zoning and permitted uses.
Approximately 4,000 square feet is occupied by a month-to-month tenant, while the balance remains vacant. The existing arrangement provides current rental occupancy alongside available space within the same building. The property also offers access to I-4 and nearby Lakeland business corridors. Potential applications described for the building include warehouse, distribution, automotive, storage, and other general commercial operations, subject to verification of zoning and permitted uses.
Key Highlights
- 8,716‑square‑foot building on approximately 0.60 acres
- Approximately 4,000 square feet occupied by a month‑to‑month tenant; remaining space vacant
- Loading dock, roll‑up access, and open warehouse areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,076
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,141,520
$2.1M
Cap Rate 7%
$1,529,657
$1.5M
Cap Rate 9%
$1,189,733
$1.2M
Market Conditions
NOI Build-Up for 8,716 SF
Gross rent
$183.0K $21.00/SF
− Vacancy
−$40.3K −$4.62/SF
EGI
$142.8K $16.38/SF
− OpEx
−$35.7K −$4.10/SF
NOI
$107.1K $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 Rate 5%
$2,141,520
Cap Rate 7%
$1,529,657
Cap Rate 9%
$1,189,733
Alternative Uses
Best Use
Office B
$1.53M
$1.34M – $1.78M
NOI $107,076 @ 7.0% cap · market cap 8.57%
Second Best
Warehouse
$721.3K
$631.1K – $841.5K
NOI $50,490 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,617 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Combined warehouse and office improvements include roll-up access, fenced storage, and on-site parking.
Where is this flex space located?
The property is located at 1604 OLIVE STREET Lakeland, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 8,716‑square‑foot building on approximately 0.60 acres; Approximately 4,000 square feet occupied by a month‑to‑month tenant; remaining space vacant; Loading dock, roll‑up access, and open warehouse areas
