South Lakeland Office
For Sale
$996,000
4927 SOUTHFORK Dr, Lakeland, FL 33813
Well-cared-for office building with private offices, conference rooms, and shared kitchen facilities.
Property Size5,204 SF
Price / SF$191.54
Days on Market96
Property Features for 4927 SOUTHFORK Dr
General Information
Standard status
Active
Size
5,204 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,614
Building Details
Building Size
5,204 SF
Year Built
1982
Stories
2
Listing Agency:
Justin Winter and Associates
Listed By:
Shawn McDonald · License #119058
(863) 287-0213
Source:
Elliman
Added: Jun 3
Changed: Aug 13
Last Checked: Sep 6 at 12:29PM
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 Justin Winter and Associates
Investment Insights
Based on property information with market context.
This well-cared-for office building offers more than 5,200 SF and includes private offices, two conference rooms, a full kitchen, and multiple private bathroom areas. The building layout is available via floor plan, and the configuration of the available space and number of private offices can be negotiated based on the new owner’s needs and lease-back terms.
The property is offered for sale at 4927 Southfork Dr in Lakeland, Florida. The public remarks note that the area is somewhat bikeable and car-dependent, indicating practical reliance on vehicle access.
For an owner-occupant, the current owner’s planned lease-back provides flexibility while retaining the option to occupy the available portion. For investors or landlords, the building can also be held for rental income, with the tenant-ready amenities including conference space, a full kitchen, and private bathrooms to support professional day-to-day operations. The specific space that will be available at closing and the private office count are subject to negotiation.
The property is offered for sale at 4927 Southfork Dr in Lakeland, Florida. The public remarks note that the area is somewhat bikeable and car-dependent, indicating practical reliance on vehicle access.
For an owner-occupant, the current owner’s planned lease-back provides flexibility while retaining the option to occupy the available portion. For investors or landlords, the building can also be held for rental income, with the tenant-ready amenities including conference space, a full kitchen, and private bathrooms to support professional day-to-day operations. The specific space that will be available at closing and the private office count are subject to negotiation.
Key Highlights
- Office building built in 1982 with over 5,200 SF of space
- Owner plans to lease back approximately 2,600 SF +/- of occupied space
- Available layout includes private offices; number of offices and space size are negotiable to fit the new owner’s needs
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
$63,882
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
6.41%
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%
$1,277,640
$1.3M
Cap Rate 7%
$912,600
$912.6K
Cap Rate 9%
$709,800
$709.8K
Market Conditions
NOI Build-Up for 5,200 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
$109.2K $21.00/SF
− Vacancy
−$24.0K −$4.62/SF
EGI
$85.2K $16.38/SF
− OpEx
−$21.3K −$4.10/SF
NOI
$63.9K $12.29/SF
Area
Lakeland, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,277,640
Cap Rate 7%
$912,600
Cap Rate 9%
$709,800
Alternative Uses
Best Use
Office B
$912.6K
$798.5K – $1.06M
NOI $63,882 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,472 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,133
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Well-cared-for office building with private offices, conference rooms, and shared kitchen facilities.
Where is this office building located?
The property is located at 4927 SOUTHFORK Dr Lakeland, FL.
What is the asking price?
The asking price for this property is $996,000.
What are key features of this property?
This property features: Office building built in 1982 with over 5,200 SF of space; Owner plans to lease back approximately 2,600 SF +/- of occupied space; Available layout includes private offices; number of offices and space size are negotiable to fit the new owner’s needs
