Second-Floor Office
For Sale
Contact for pricing
1956 E EDGEWOOD DR, Lakeland, FL 33803
Second-floor office unit with two large offices, a smaller office, and a galley break area.
Property Size840 SF
Price / SF$237.98
Days on Market68
Property Features for 1956 E EDGEWOOD DR
General Information
Standard status
Active
Size
840 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
break bar
lake view
Listing Agency:
Ulysses Realty Group Inc.
(863) 647-0862
Listed By:
Phillip R. Mays
(863) 409-2277
Source:
Moodyscre
Added: Jul 14
Changed: Sep 3
Last Checked: Sep 19 at 10:33AM
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 Ulysses Realty Group Inc.
Investment Insights
Based on property information with market context.
This second-floor office suite includes two large offices, one smaller office, a galley break area, and a restroom. The unit is part of the Lake Bentley Office condominium association.
Located on busy Edgewood Dr. near Hwy 98, the property is close to downtown Lakeland and major routes including I-4 and Polk Parkway.
Condo association fees are $175 per month.
Located on busy Edgewood Dr. near Hwy 98, the property is close to downtown Lakeland and major routes including I-4 and Polk Parkway.
Condo association fees are $175 per month.
Key Highlights
- Second‑floor office condo with two large offices plus an additional smaller office
- Includes galley break area and a restroom
- Offers views of Lake Bentley and surrounding areas
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
$10,319
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
5.16%
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%
$206,380
$206.4K
Cap Rate 7%
$147,414
$147.4K
Cap Rate 9%
$114,656
$114.7K
Market Conditions
NOI Build-Up for 840 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
$17.6K $21.00/SF
− Vacancy
−$3.9K −$4.62/SF
EGI
$13.8K $16.38/SF
− OpEx
−$3.4K −$4.10/SF
NOI
$10.3K $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 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%
$206,380
Cap Rate 7%
$147,414
Cap Rate 9%
$114,656
Alternative Uses
Best Use
Office B
$147.4K
$129.0K – $172.0K
NOI $10,319 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$201.9K
$176.6K – $235.5K
NOI $14,130 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 33803, FL
29,082
Population
15,086
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
16.6 sq mi
ZIP Area
1,752
Density / Sq Mi
$63,180
Median Household Income
$40,358
Median Earnings
$1,337
Median Rent
$236,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Second-floor office unit with two large offices, a smaller office, and a galley break area.
Where is this office units located?
The property is located at 1956 E EDGEWOOD DR Lakeland, FL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Second‑floor office condo with two large offices plus an additional smaller office; Includes galley break area and a restroom; Offers views of Lake Bentley and surrounding areas
