Lakeland Industrial Property with
For Sale
$950,000
4930 DRANE FIELD, Lakeland, FL 33811
Industrial property featuring a warehouse and office building.
Property Size1,500 SF
Lot Size0.68 Acres
Price / SF$145.26
Days on Market161
Property Features for 4930 DRANE FIELD
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.68 Acres
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$6,734
Building Details
Building Size
1,500 SF
Year Built
1972
Stories
1
Listing Agency:
JACK T. GIBBS LLC
(813) 752-6171
Listed By:
Jack Gibbs
(813) 752-6171
Source:
Elliman
Added: Mar 23
Changed: Aug 22
Last Checked: Aug 29 at 11:41AM
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 JACK T. GIBBS LLC
Investment Insights
Based on property information with market context.
This property features a total of 6,540 square feet across two buildings. A metal warehouse building, constructed in 2003, offers 4,950 square feet of space and a 16-foot ceiling height. Additionally, there is a 1,500-square-foot air-conditioned office building, built in 1972, which includes two bathrooms. The entire property is fenced. The property is located in Lakeland's fast-growing Industrial Corridor.
Key Highlights
- Large 4,950 sq ft metal warehouse with 16' ceiling.
- Located in Lakeland's fast‑growing Industrial Corridor.
- Includes a 1,500 sq ft air‑conditioned office building.
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
$80,344
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
8.46%
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%
$1,606,880
$1.6M
Cap Rate 7%
$1,147,771
$1.1M
Cap Rate 9%
$892,711
$892.7K
Market Conditions
NOI Build-Up for 6,540 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
$137.3K $21.00/SF
− Vacancy
−$30.2K −$4.62/SF
EGI
$107.1K $16.38/SF
− OpEx
−$26.8K −$4.10/SF
NOI
$80.3K $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%
$1,606,880
Cap Rate 7%
$1,147,771
Cap Rate 9%
$892,711
Alternative Uses
Best Use
Office B
$1.15M
$1.00M – $1.34M
NOI $80,344 @ 7.0% cap · market cap 8.46%
Second Best
Warehouse
$541.2K
$473.6K – $631.4K
NOI $37,885 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.57M
$1.38M – $1.83M
NOI $110,013 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
Well-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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property featuring a warehouse and office building.
Where is this warehouse located?
The property is located at 4930 DRANE FIELD Lakeland, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Large 4,950 sq ft metal warehouse with 16' ceiling.; Located in Lakeland's fast‑growing Industrial Corridor.; Includes a 1,500 sq ft air‑conditioned office building.
