Duplex with Indoor
2839 8 IRON DRIVE, Lakeland, FL 33801
For Sale
New
$289,000
One residence is leased and the other is vacant, offering two different occupancy situations at closing.
Property Size1,824 SF
Price / SF$158.44
Days on Market7
Property Features for 2839 8 IRON DRIVE
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Amenities
eat-in kitchen
indoor laundry
Building Details
Year Built
Listing Agency:
ADAN INVESTMENTS REAL ESTATE GROUP, PLLC
Listed By:
Adan Ordonez · License FL #3188653
(407) 967-2867
Source:
Endlesssummerrealty
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 10 at 2:23PM
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 ADAN INVESTMENTS REAL ESTATE GROUP, PLLC
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Investment Insights
Based on property information with market context.
Built in 1982, this 1,824-square-foot duplex contains two residences. Each has a living area, an eat-in kitchen and indoor laundry. One residence is occupied by a tenant, while the other is vacant.
Key Highlights
- Two residences totaling 1,824 square feet
- One residence has a tenant in place; the other is vacant
- Both residences include a living area, eat‑in kitchen and indoor laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,340
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,800
$386.8K
Cap Rate 7%
$276,286
$276.3K
Cap Rate 9%
$214,889
$214.9K
Market Conditions
NOI Build-Up for 1,824 SF
Gross rent
$29.5K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$27.6K $15.15/SF
− OpEx
−$8.3K −$4.54/SF
NOI
$19.3K $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%
$386,800
Cap Rate 7%
$276,286
Cap Rate 9%
$214,889
Alternative Uses
Best Use
Multifamily LT 5
$276.3K
$241.8K – $322.3K
NOI $19,340 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$246.8K
$216.0K – $288.0K
NOI $17,277 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$438.3K
$383.5K – $511.4K
NOI $30,683 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
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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
$138,700
Median Home Value
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Market
Average Price Trend$/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 - One residence is leased and the other is vacant, offering two different occupancy situations at closing.
Where is this duplex located?
The property is located at 2839 8 IRON DRIVE Lakeland, FL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two residences totaling 1,824 square feet; One residence has a tenant in place; the other is vacant; Both residences include a living area, eat‑in kitchen and indoor laundry
