Single-Tenant Flex
New
For Sale
Contact for pricing
4245 S Pipkin Road, Lakeland, FL 33811
Tilt-wall construction accommodates finished offices alongside a rear-loading warehouse area for flexible business operations.
Property Size29,734 SF
Lot Size4.00 Acres
Price / SF$129.48
Days on Market5
Property Features for 4245 S Pipkin Road
General Information
Standard status
Active
Size
29,734 SF
Lot size
4.00 Acres
Property subtype
Industrial
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Construction
tilt-wall concrete
Tenancy
Single
Abandoned
No
Listing Agency:
Saunders Real Estate
Listed By:
Joey Hungerford · License #SL 3618062
(863) 660-3511
Source:
Crexi
Added: Sep 15
Changed: Sep 18
Last Checked: Sep 18 at 3:14PM
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 Saunders Real Estate
Investment Insights
Based on property information with market context.
This 29,734 ± SF flex property is fully leased to Revere Control Systems Inc. The tilt-wall concrete building combines finished office space with a rear-load warehouse layout, supported by two dock-high doors and two grade-level doors. Approximately ten years remain on the current lease, providing an established occupancy profile for the property.
The asset occupies approximately 4 acres within Parkway Corporate Center in Lakeland’s Airport submarket. The site includes 1.2 ± acres of additional land that may support future building expansion or outdoor storage, subject to applicable approvals. Access is convenient to Lakeland Linder International Airport, Publix’s corporate headquarters, the Polk Parkway, County Line Road, and I-4.
The asset occupies approximately 4 acres within Parkway Corporate Center in Lakeland’s Airport submarket. The site includes 1.2 ± acres of additional land that may support future building expansion or outdoor storage, subject to applicable approvals. Access is convenient to Lakeland Linder International Airport, Publix’s corporate headquarters, the Polk Parkway, County Line Road, and I-4.
Key Highlights
- 29,734 ± SF single‑tenant flex building
- Fully leased to Revere Control Systems Inc.
- Approximately 4 acres, including 1.2 ± acres of additional land
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
$172,243
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
4.47%
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%
$3,444,860
$3.4M
Cap Rate 7%
$2,460,614
$2.5M
Cap Rate 9%
$1,913,811
$1.9M
Market Conditions
NOI Build-Up for 29,734 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
$221.2K $7.44/SF
− Vacancy
−$18.6K −$0.62/SF
EGI
$202.6K $6.82/SF
− OpEx
−$30.4K −$1.02/SF
NOI
$172.2K $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%
$3,444,860
Cap Rate 7%
$2,460,614
Cap Rate 9%
$1,913,811
Alternative Uses
Best Use
Warehouse
$2.46M
$2.15M – $2.87M
NOI $172,243 @ 7.0% cap · market cap 4.47%
Second Best
Flex RnD
$2.29M
$2.00M – $2.67M
NOI $160,028 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$7.15M
$6.25M – $8.34M
NOI $500,173 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33811, FL
24,249
Population
10,869
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
91%
High-School Grad
26.9 sq mi
ZIP Area
901
Density / Sq Mi
$85,821
Median Household Income
$46,879
Median Earnings
$1,256
Median Rent
$289,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Lakeland, FL
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Frequently Asked Questions
What type of property is this?
Flex space - Tilt-wall construction accommodates finished offices alongside a rear-loading warehouse area for flexible business operations.
Where is this flex space located?
The property is located at 4245 S Pipkin Road Lakeland, FL.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: 29,734 ± SF single‑tenant flex building; Fully leased to Revere Control Systems Inc.; Approximately 4 acres, including 1.2 ± acres of additional land
