Duplex with Updated
For Sale
$350,000
4710 FERNERY LANE, Lakeland, FL 33809
Two matching units offer in-unit laundry and flexible office or bedroom space near I-4.
Property Size1,510 SF
Price / SF$231.79
Days on Market11
Property Features for 4710 FERNERY LANE
General Information
Standard status
Active
Size
1,510 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
updated kitchens
in-unit laundry
0.29 acres, Dimensions: 150x85
Shingle
Septic Tank
Additional parcels description:, Parcel Number: 24-27-30-162500-000123, Public Survey Range: 24, Public Survey Section: 30, Annual Amount: $4,142.71, Tax Book Number: 6-13, Legal Description: GOODYEAR P D SUB PB 6 PG 13 & PB 5 PG 49 LOT 12 W 85 FT OF N 150 FT OF S 300 FT, Lot: 12, Year: 2025, Zoning: C-3
Central Air
Central
Inside
Listing ID: MFRL4964502, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-08-22, 1 day on market, Special Conditions: None
2 carport spaces
4 total bedrooms
Built in 1966, Living area: 1510, Living area units: Square Feet, Construction Materials: Stucco
Subdivision: GOODYEAR P D SUB, MLS Area (Major): 33809 - Lakeland / Polk City, County/Parish: Polk
2 total bathrooms
Electricity Connected, Water Source: Public
Slab
Road Surface: Paved
Ceiling Fans(s)
Other equipment: None
Building Details
Year Built
1966
Listing Agency:
CHARLES RUTENBERG REALTY ORLANDO
(407) 622-2122
Listed By:
Monay Link · License #3395608
Source:
Miharaandassociates
Added: Aug 22
Changed: Aug 31
Last Checked: Aug 31 at 3:38PM
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 CHARLES RUTENBERG REALTY ORLANDO
Investment Insights
Based on property information with market context.
Built in 1966, this 1,510-square-foot duplex contains two units with matching two-bedroom, one-bath layouts. Each side includes an updated kitchen and in-unit laundry. An office with closet space provides flexibility for use as an office or a third bedroom, subject to applicable requirements.
The property is located at 4710 Fernery Lane in Lakeland, Florida, near I-4. The two-unit configuration supports separate occupancy, including the option to occupy one unit while leasing the other or lease both units.
The property is located at 4710 Fernery Lane in Lakeland, Florida, near I-4. The two-unit configuration supports separate occupancy, including the option to occupy one unit while leasing the other or lease both units.
Key Highlights
- Two‑unit duplex with matching two‑bedroom, one‑bath layouts
- 1,510 SF property built in 1966
- Updated kitchens in both units
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
$16,010
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
4.57%
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%
$320,200
$320.2K
Cap Rate 7%
$228,714
$228.7K
Cap Rate 9%
$177,889
$177.9K
Market Conditions
NOI Build-Up for 1,510 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
$24.5K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$22.9K $15.15/SF
− OpEx
−$6.9K −$4.54/SF
NOI
$16.0K $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%
$320,200
Cap Rate 7%
$228,714
Cap Rate 9%
$177,889
Alternative Uses
Best Use
Multifamily LT 5
$228.7K
$200.1K – $266.8K
NOI $16,010 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$204.3K
$178.8K – $238.4K
NOI $14,303 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$362.9K
$317.5K – $423.4K
NOI $25,401 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 33809, FL
30,629
Population
12,647
Households
2.4
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
65.9 sq mi
ZIP Area
465
Density / Sq Mi
$67,112
Median Household Income
$40,839
Median Earnings
$1,492
Median Rent
$248,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching units offer in-unit laundry and flexible office or bedroom space near I-4.
Where is this duplex located?
The property is located at 4710 FERNERY LANE Lakeland, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with matching two‑bedroom, one‑bath layouts; 1,510 SF property built in 1966; Updated kitchens in both units
