Professional Office
For Sale
Contact for pricing
2920 Winter Lake Rd, Lakeland, FL 33803
Office building for sale featuring a total of 2,673 SF, suited for professional use in Lakeland, FL.
Property Size2,673 SF
Price / SF$222.60
Days on Market176
Property Features for 2920 Winter Lake Rd
General Information
Standard status
Active
Size
2,673 SF
Class
B
Property subtype
Office
Building Details
Year Built
1984
Listing Agency:
Broadway Real Estate Services
Listed By:
Jack Strollo · License #Florida BK698301
(863) 683-3425
Source:
Crexi
Added: Mar 16
Changed: Aug 27
Last Checked: Sep 7 at 7:52AM
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 Broadway Real Estate Services
Investment Insights
Based on property information with market context.
This offering is a 2,673 SF office building presented for sale. The property is positioned for professional use and is intended to support day-to-day office operations.
Located at 2920 Winter Lake Rd in Lakeland, Florida, the building benefits from a convenient local address within the market.
With its defined office configuration and total size of 2,673 SF, the property provides a straightforward option for an owner-occupant or an investor evaluating office real estate in Lakeland.
Located at 2920 Winter Lake Rd in Lakeland, Florida, the building benefits from a convenient local address within the market.
With its defined office configuration and total size of 2,673 SF, the property provides a straightforward option for an owner-occupant or an investor evaluating office real estate in Lakeland.
Key Highlights
- 2,673 SF office building for sale in Lakeland, FL
- Built in 1984
- Suited for professional use
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
$32,838
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
5.52%
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%
$656,760
$656.8K
Cap Rate 7%
$469,114
$469.1K
Cap Rate 9%
$364,867
$364.9K
Market Conditions
NOI Build-Up for 2,673 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
$56.1K $21.00/SF
− Vacancy
−$12.3K −$4.62/SF
EGI
$43.8K $16.38/SF
− OpEx
−$10.9K −$4.10/SF
NOI
$32.8K $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%
$656,760
Cap Rate 7%
$469,114
Cap Rate 9%
$364,867
Alternative Uses
Best Use
Office B
$469.1K
$410.5K – $547.3K
NOI $32,838 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$642.3K
$562.1K – $749.4K
NOI $44,964 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
272
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building for sale featuring a total of 2,673 SF, suited for professional use in Lakeland, FL.
Where is this office building located?
The property is located at 2920 Winter Lake Rd Lakeland, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,673 SF office building for sale in Lakeland, FL; Built in 1984; Suited for professional use
