Flex Space with
New
For Sale
$1,199,999
3030 WATERFIELD, Lakeland, FL 33803
Flexible commercial facility combining private offices, training space, and warehouse capacity.
Property Size3,336 SF
Price / SF$159
Days on Market2
Property Features for 3030 WATERFIELD
General Information
Standard status
Active
Size
3,336 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Voltage
440 V
Three-Phase Power
Yes
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,182
Amenities
Conference Room
Training Room
Kitchen
ADA Compliant Baths
Building Details
Building Size
3,336 SF
Year Built
1988
Listing Agency:
ACE REALTY & AUCTION LLC
Listed By:
Earl Williams · License #3155331
(813) 567-7198
Source:
Elliman
Added: Sep 12
Last Checked: Sep 12 at 2:44PM
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 ACE REALTY & AUCTION LLC
Investment Insights
Based on property information with market context.
This 7,500-square-foot flex property combines 3,336 square feet of heated space with a substantial warehouse component. The office area includes 7 private offices, a conference room, dedicated training room, kitchen, and 2 ADA-compliant baths. A separate warehouse bath is in place, with another bath already plumbed for completion to user specifications.
The warehouse provides 20-foot ceilings, 3 bay doors measuring 14x11, and 440-3 PHASE POWER. The configuration supports businesses requiring administrative space alongside storage, production, or operational capacity. Built in 1988, the property is located minutes from Polk Parkway, I-4, and Hwy 98 in Lakeland.
The warehouse provides 20-foot ceilings, 3 bay doors measuring 14x11, and 440-3 PHASE POWER. The configuration supports businesses requiring administrative space alongside storage, production, or operational capacity. Built in 1988, the property is located minutes from Polk Parkway, I-4, and Hwy 98 in Lakeland.
Key Highlights
- 7,500‑square‑foot flex property with 3,336 SQ FT heated space
- 7 private offices, conference room, dedicated training room, and kitchen
- Warehouse includes 20‑foot ceilings and 3 bay doors measuring 14x11
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
$43,446
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
3.62%
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%
$868,920
$868.9K
Cap Rate 7%
$620,657
$620.7K
Cap Rate 9%
$482,733
$482.7K
Market Conditions
NOI Build-Up for 7,500 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
$55.8K $7.44/SF
− Vacancy
−$4.7K −$0.62/SF
EGI
$51.1K $6.82/SF
− OpEx
−$7.7K −$1.02/SF
NOI
$43.4K $5.79/SF
Area
Lakeland, FL
Vacancy
8.40%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
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%
$868,920
Cap Rate 7%
$620,657
Cap Rate 9%
$482,733
Alternative Uses
Best Use
Warehouse
$620.7K
$543.1K – $724.1K
NOI $43,446 @ 7.0% cap · market cap 3.62%
Second Best
Flex RnD
$576.6K
$504.6K – $672.8K
NOI $40,365 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,162 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in Lakeland, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial facility combining private offices, training space, and warehouse capacity.
Where is this flex space located?
The property is located at 3030 WATERFIELD Lakeland, FL.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: 7,500‑square‑foot flex property with 3,336 SQ FT heated space; 7 private offices, conference room, dedicated training room, and kitchen; Warehouse includes 20‑foot ceilings and 3 bay doors measuring 14x11
