Waterfront
2035 SHAKESPEARE STREET, Lakeland, FL 33801
For Sale
$470,000
Remodeled two-unit property with lake views, updated systems, and a large storage shed.
Property Size2,682 SF
Days on Market54
Property Features for 2035 SHAKESPEARE STREET
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
ROOST REALTY GROUP LLC
Listed By:
Cannon Kirby
(863) 398-0267
Source:
Tinaheim.kw
Added: Sep 20
Changed: Nov 1
Last Checked: Nov 10 at 5:04AM
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 ROOST REALTY GROUP LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1955-built duplex at 2035 Shakespeare Street in Lakeland includes six bedrooms and three bathrooms across two remodeled units. The layout combines a four-bedroom, two-bath unit with a two-bedroom, one-bath unit. Interior features include tile flooring and granite countertops, while a large storage shed adds on-site utility space.
The property overlooks Lake Bonny and includes a shady backyard on a large lot. Major systems have been updated with a roof installed in 2022, a new septic system and drainfield completed in 2022, and a new AC installed in 2025. Southeastern University is within minutes of the property.
The property overlooks Lake Bonny and includes a shady backyard on a large lot. Major systems have been updated with a roof installed in 2022, a new septic system and drainfield completed in 2022, and a new AC installed in 2025. Southeastern University is within minutes of the property.
Key Highlights
- Two remodeled units with a combined 6 bedrooms and 3 bathrooms
- Unit mix includes 4 bedrooms and 2 bathrooms plus 2 bedrooms and 1 bathroom
- Lake Bonny waterfront setting with water views and a shady backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,437
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,740
$568.7K
Cap Rate 7%
$406,243
$406.2K
Cap Rate 9%
$315,967
$316.0K
Market Conditions
NOI Build-Up for 2,682 SF
Gross rent
$43.4K $16.20/SF
− Vacancy
−$2.8K −$1.05/SF
EGI
$40.6K $15.15/SF
− OpEx
−$12.2K −$4.54/SF
NOI
$28.4K $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 Rate 5%
$568,740
Cap Rate 7%
$406,243
Cap Rate 9%
$315,967
Alternative Uses
Best Use
Multifamily LT 5
$406.2K
$355.5K – $474.0K
NOI $28,437 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$362.9K
$317.6K – $423.4K
NOI $25,404 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$644.5K
$564.0K – $751.9K
NOI $45,116 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
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
$138,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Lakeland, FL
Properties on Market for Duplexes in Lakeland
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Remodeled two-unit property with lake views, updated systems, and a large storage shed.
Where is this duplex located?
The property is located at 2035 SHAKESPEARE STREET Lakeland, FL.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two remodeled units with a combined 6 bedrooms and 3 bathrooms; Unit mix includes 4 bedrooms and 2 bathrooms plus 2 bedrooms and 1 bathroom; Lake Bonny waterfront setting with water views and a shady backyard
