Duplex with Replaced
New
For Sale
$264,990
3617 FRONTAGE ROAD N, Lakeland, FL 33810
Residential Income, LAKELAND, FL
Property Size1,352 SF
Lot Size0.23 Acres
Price / SF$195
Days on Market5
Property Features for 3617 FRONTAGE ROAD N
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1
Interior features
Ninguno
Exterior features
Private Entrance, Private Mailbox, Private Yard
Subdivision
NOT IN A SUBDIVISION
Directions
From N Galloway Rd, turn onto N Frontage Rd. Continue on N Frontage Rd to 3617/3619 Frontage Rd N. Property will be on your right.
Standard status
Active
APN
232816-000000-034270
Size
1,352 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COMM SW COR NE1/4 OF SW1/4 OF NW1/4 RUN E 266.17 FT N 20 DEG 30 MIN 53 SEC E ALONG R/W 316.05 FT NELY ALONG CURVE ON R/W 46.6 FT FOR POB RUN N 49
Tax Annual Amount
2457
Legal Description
COMM SW COR NE1/4 OF SW1/4 OF NW1/4 RUN E 266.17 FT N 20 DEG 30 MIN 53 SEC E ALONG R/W 316.05 FT NELY ALONG CURVE ON R/W 46.6 FT FOR POB RUN N 49
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Building materials
Concrete
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
David Knight · License #3263900
(407) 453-1331
Added: Sep 23
Changed: Sep 27
Last Checked: Sep 27 at 1:06PM
MLS# O6444170
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Lakeland duplex contains two residences, each arranged with two bedrooms and one bathroom. The combined building measures 1,352 square feet on a 0.23-acre parcel. Concrete construction dates to 1980, and the shingle roof was replaced in 2025. Central heating and air conditioning serve the property.
The property is located at 3617 Frontage Road N in Lakeland. Public water and sewer are available, along with cable service. The two leases have separate expiration dates: February 2027 and June 2027.
The property is located at 3617 Frontage Road N in Lakeland. Public water and sewer are available, along with cable service. The two leases have separate expiration dates: February 2027 and June 2027.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,352 square feet on a 0.23‑acre parcel
- Roof replaced in 2025; shingle roofing
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
$14,335
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
5.41%
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%
$286,700
$286.7K
Cap Rate 7%
$204,786
$204.8K
Cap Rate 9%
$159,278
$159.3K
Market Conditions
NOI Build-Up for 1,352 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
$21.9K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$20.5K $15.15/SF
− OpEx
−$6.1K −$4.54/SF
NOI
$14.3K $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 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%
$286,700
Cap Rate 7%
$204,786
Cap Rate 9%
$159,278
Alternative Uses
Best Use
Multifamily LT 5
$204.8K
$179.2K – $238.9K
NOI $14,335 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$182.9K
$160.1K – $213.4K
NOI $12,806 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$324.9K
$284.3K – $379.1K
NOI $22,743 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 33810, FL
52,037
Population
21,836
Households
2.4
Avg Household Size
42
Median Age
20%
College-Educated
88%
High-School Grad
64.6 sq mi
ZIP Area
806
Density / Sq Mi
$69,738
Median Household Income
$38,416
Median Earnings
$1,407
Median Rent
$245,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one bathroom, with separate leases scheduled to end in 2027.
Where is this duplex located?
The property is located at 3617 FRONTAGE ROAD N Lakeland, FL.
What is the asking price?
The asking price for this property is $264,990.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,352 square feet on a 0.23‑acre parcel; Roof replaced in 2025; shingle roofing
