Four-Property Dental Medical
New
For Sale
$687,083
3845 Florida Ave S, Lakeland, FL 33813
Established dental facilities across Central Florida are leased to Dental Care Alliance under long-term agreements.
Property Size2,496 SF
Price / SF$275.27
Days on Market2
Property Features for 3845 Florida Ave S
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Office Medical
Occupancy
100%
Net Operating Income
$306,026
Additional Details
Cap Rate
7.42%
Amenities
100 Percent Leased to Dental Care Alliance
10 Years of Lease Term Remaining
Two Percent Annual Rental Increases
Building Details
Building Size
2,496 SF
Year Built
1977
Buildings
4
Tenancy
Single
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Kobe Gaskin · License #License(s): OH: SAL.2025003139
(216) 264-2032
Source:
Marcusmillichap
Added: Sep 18
Last Checked: Sep 19 at 5:54AM
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 Marcus & Millichap - Cleveland
Investment Insights
Based on property information with market context.
This offering includes four medical office properties serving dental operations in Central Florida. The facilities are located at 3845 Florida Avenue South and 444 W Pipkin Road in Lakeland, 401 Howell Avenue in Brooksville, and 2090 Flamingo Drive in Bartow. The Lakeland property at 3845 Florida Avenue South was built in 1977 and has a reported property size of 2,496.
Dental Care Alliance occupies the portfolio under long-term lease agreements with approximately 10 years of remaining term and contractual 2% annual rent increases. The assets may be acquired together or individually, providing flexibility for different acquisition strategies. The properties are positioned within established community-serving dental locations throughout Central Florida.
Dental Care Alliance occupies the portfolio under long-term lease agreements with approximately 10 years of remaining term and contractual 2% annual rent increases. The assets may be acquired together or individually, providing flexibility for different acquisition strategies. The properties are positioned within established community-serving dental locations throughout Central Florida.
Key Highlights
- Four‑property medical office portfolio across Lakeland, Brooksville, and Bartow
- Leased to Dental Care Alliance
- Approximately 10 years of remaining lease term
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
$31,364
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
4.56%
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%
$627,280
$627.3K
Cap Rate 7%
$448,057
$448.1K
Cap Rate 9%
$348,489
$348.5K
Market Conditions
NOI Build-Up for 2,496 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
$58.4K $23.40/SF
− Vacancy
−$6.1K −$2.46/SF
EGI
$52.3K $20.94/SF
− OpEx
−$20.9K −$8.38/SF
NOI
$31.4K $12.57/SF
Area
Lakeland, FL
Vacancy
10.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
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%
$627,280
Cap Rate 7%
$448,057
Cap Rate 9%
$348,489
Alternative Uses
Best Use
Healthcare Medical
$448.1K
$392.1K – $522.7K
NOI $31,364 @ 7.0% cap · market cap 4.56%
Second Best
Office B
$438.0K
$383.3K – $511.1K
NOI $30,663 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$599.8K
$524.8K – $699.8K
NOI $41,987 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33813, FL
36,448
Population
14,787
Households
2.5
Avg Household Size
42
Median Age
39%
College-Educated
94%
High-School Grad
21.0 sq mi
ZIP Area
1,736
Density / Sq Mi
$96,723
Median Household Income
$50,581
Median Earnings
$1,637
Median Rent
$330,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Established dental facilities across Central Florida are leased to Dental Care Alliance under long-term agreements.
Where is this medical office space located?
The property is located at 3845 Florida Ave S Lakeland, FL.
What is the asking price?
The asking price for this property is $687,083.
What are key features of this property?
This property features: Four‑property medical office portfolio across Lakeland, Brooksville, and Bartow; Leased to Dental Care Alliance; Approximately 10 years of remaining lease term
