Leased Medical Office
New
For Sale
$1,713,639
444 W Pipkin Rd, Lakeland, FL 33813
Established dental facility with long-term occupancy and contractual annual rent increases.
Property Size5,963 SF
Price / SF$287.38
Days on Market2
Property Features for 444 W Pipkin Rd
General Information
Standard status
Active
Size
5,963 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
5,963 SF
Year Built
1986
Buildings
4
Tenancy
Single
Owner Occupied
No
Listing Agency:
Marcus & Millichap - Cleveland
Listed By:
Kobe Gaskin · License #License(s): OH: SAL.2025003139
(216) 264-2032
Source:
Marcusmillichap
Added: Sep 18
Changed: Sep 19
Last Checked: Sep 19 at 5:57AM
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 5,963-square-foot medical office property at 444 W Pipkin Rd in Lakeland, Florida, was built in 1986 and operates as an established dental facility. The building is fully leased to Dental Care Alliance, a dental support organization, providing an occupied healthcare-oriented use.
The lease has approximately 10 years of remaining term and includes contractual 2% annual rental increases. The property is one of four dental facilities identified in a Central Florida portfolio, with the assets offered for acquisition together or separately.
The lease has approximately 10 years of remaining term and includes contractual 2% annual rental increases. The property is one of four dental facilities identified in a Central Florida portfolio, with the assets offered for acquisition together or separately.
Key Highlights
- 5,963‑square‑foot medical office property at 444 W Pipkin Rd, Lakeland, FL 33813
- Built in 1986
- Established dental facility
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
$74,930
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
4.37%
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%
$1,498,600
$1.5M
Cap Rate 7%
$1,070,429
$1.1M
Cap Rate 9%
$832,556
$832.6K
Market Conditions
NOI Build-Up for 5,963 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
$139.5K $23.40/SF
− Vacancy
−$14.7K −$2.46/SF
EGI
$124.9K $20.94/SF
− OpEx
−$50.0K −$8.38/SF
NOI
$74.9K $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%
$1,498,600
Cap Rate 7%
$1,070,429
Cap Rate 9%
$832,556
Alternative Uses
Best Use
Healthcare Medical
$1.07M
$936.6K – $1.25M
NOI $74,930 @ 7.0% cap · market cap 4.37%
Second Best
Office B
$1.05M
$915.7K – $1.22M
NOI $73,255 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,307 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,133
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All Creatures Animal Clinic — 1019 W Pipkin Rd, Lakeland, FL 33811
- Animal Medical Clinic Lakeland — 4672 Cleveland Heights Blvd, Lakeland, FL 33813
- Pet Care On Highland — 222 W Highland Dr, Lakeland, FL 33813
- Dr. Timothy Lockhart — 222 w highland dr, lakeland, fl 33813
Frequently Asked Questions
What type of property is this?
Medical Office Space - Established dental facility with long-term occupancy and contractual annual rent increases.
Where is this medical office space located?
The property is located at 444 W Pipkin Rd Lakeland, FL.
What is the asking price?
The asking price for this property is $1,713,639.
What are key features of this property?
This property features: 5,963‑square‑foot medical office property at 444 W Pipkin Rd, Lakeland, FL 33813; Built in 1986; Established dental facility
