Fenced Auto Flex
For Sale
$485,000
1701 W Memorial Blvd, Lakeland, FL 33801
Fenced 0.63-acre site with two buildings used for auto sales and a contractor office/yard.
Property Size2,520 SF
Lot Size0.63 Acres
Price / SF$192.46
Days on Market51
Property Features for 1701 W Memorial Blvd
General Information
Standard status
Active
Size
2,520 SF
Lot size
0.63 Acres
Zoning
Linear commercial corridor
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,031
Listing Agency:
WILLIAM D. BESSELIEU
(813) 263-5854
Listed By:
William Besselieu
(813) 263-5854
Source:
Exprealty
Added: Jul 10
Changed: Aug 25
Last Checked: Aug 29 at 1:07PM
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 WILLIAM D. BESSELIEU
Investment Insights
Based on property information with market context.
This for-sale flex/industrial property is set on a fenced 0.63-acre parcel with two separate buildings totaling 2,520 square feet. The buildings have been used for auto sales and a contractor office and yard, and the property includes multiple access points suitable for a business that needs direct site entry and clear operations space.
The site is located in unincorporated Polk County on a linear commercial corridor with FDOT traffic counts reported at 30,000+ AADT. It is positioned with corner location and visibility, and it is across the street from Lakeland Ford. Water and sewer are provided by Polk County, with electricity supplied by Lakeland Electric. The property is in Flood Zone “X.”
Zoning supports industrial and retail potential for buyers seeking a flexible setup with two structures on a commercially zoned, high-traffic parcel.
The site is located in unincorporated Polk County on a linear commercial corridor with FDOT traffic counts reported at 30,000+ AADT. It is positioned with corner location and visibility, and it is across the street from Lakeland Ford. Water and sewer are provided by Polk County, with electricity supplied by Lakeland Electric. The property is in Flood Zone “X.”
Zoning supports industrial and retail potential for buyers seeking a flexible setup with two structures on a commercially zoned, high-traffic parcel.
Key Highlights
- 0.63‑acre fenced parcel in unincorporated Polk County with linear commercial corridor zoning
- Two buildings totaling 2,520 SF: Building 1 (1,440 SF) and Building 2 (1,080 SF)
- Previously used for auto sales and contractor office/yard—potential for industrial/retail uses
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
$13,563
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
2.80%
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%
$271,260
$271.3K
Cap Rate 7%
$193,757
$193.8K
Cap Rate 9%
$150,700
$150.7K
Market Conditions
NOI Build-Up for 2,520 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
$22.7K $9.00/SF
− Vacancy
−$1.8K −$0.72/SF
EGI
$20.9K $8.28/SF
− OpEx
−$7.3K −$2.90/SF
NOI
$13.6K $5.38/SF
Area
Lakeland, FL
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$271,260
Cap Rate 7%
$193,757
Cap Rate 9%
$150,700
Alternative Uses
Best Use
Flex RnD
$193.8K
$169.5K – $226.1K
NOI $13,563 @ 7.0% cap · market cap 2.80%
Second Best
Industrial
$171.7K
$150.3K – $200.4K
NOI $12,022 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$605.6K
$529.9K – $706.5K
NOI $42,390 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Lakeland, FL
Questions? Ask Rey
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- Essential Catering Solutions, Inc. — 1620 W Parker St, Lakeland, FL 33815
Frequently Asked Questions
What type of property is this?
Flex space - Fenced 0.63-acre site with two buildings used for auto sales and a contractor office/yard.
Where is this flex space located?
The property is located at 1701 W Memorial Blvd Lakeland, FL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 0.63‑acre fenced parcel in unincorporated Polk County with linear commercial corridor zoning; Two buildings totaling 2,520 SF: Building 1 (1,440 SF) and Building 2 (1,080 SF); Previously used for auto sales and contractor office/yard—potential for industrial/retail uses
