Downtown Lakeland Office Building For
For Sale
Contact for pricing
501 W Peachtree St, Lakeland, FL 33815
2,958 SF office building with views of Lake Wire.
Property Size2,958 SF
Price / SF$252.87
Days on Market165
Property Features for 501 W Peachtree St
General Information
Standard status
Active
Size
2,958 SF
Class
B
Property subtype
Office
Listing Agency:
Broadway Real Estate Services
(863) 683-3425
Listed By:
Jack Strollo · License #Florida BK698301
Source:
Crexi
Added: Mar 20
Changed: Aug 25
Last Checked: Aug 28 at 11:43PM
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 Broadway Real Estate Services
Investment Insights
Based on property information with market context.
This 2,958 square foot office building is located on Lake Wire, offering views of Downtown and Lake Wire. It is adjacent to the new Prospect on Lake Wire retail and multifamily development. The property features a gated parking area with 12 on-site spaces. Inside, there is a reception area, several open workspaces and breakout rooms, and restrooms on both levels. The layout supports a very open and creative work environment. The building offers signage opportunities in the front, side, and rear. Lakeland is situated approximately 35 miles east of Tampa and 55 miles southwest of Orlando, along Interstate I-4. The city is home to Florida Southern College, Florida Polytechnic University, Southeastern University, Polk Community College, and Publix. Lakeland is experiencing positive job growth and offers a lower cost of living compared to other areas along the I-4 corridor. The area surrounding Lakeland provides a range of industrial and commercial real estate options. The city and its surrounding area have invested in infrastructure improvements to support business growth and innovation.
Key Highlights
- Prime downtown Lakeland location with STUNNING VIEWS of Downtown and Lake Wire.
- Adjacent to the new 'Prospect On Lake Wire' retail and multifamily development.
- 2,958 sf office building with a VERY OPEN AND CREATIVE workspace.
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
$36,339
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
4.86%
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%
$726,780
$726.8K
Cap Rate 7%
$519,129
$519.1K
Cap Rate 9%
$403,767
$403.8K
Market Conditions
NOI Build-Up for 2,958 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
$62.1K $21.00/SF
− Vacancy
−$13.7K −$4.62/SF
EGI
$48.5K $16.38/SF
− OpEx
−$12.1K −$4.10/SF
NOI
$36.3K $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%
$726,780
Cap Rate 7%
$519,129
Cap Rate 9%
$403,767
Alternative Uses
Best Use
Office B
$519.1K
$454.2K – $605.7K
NOI $36,339 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$710.8K
$622.0K – $829.3K
NOI $49,758 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,931
Businesses Nearby
Explore this area
Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
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?
Office building - 2,958 SF office building with views of Lake Wire.
Where is this office building located?
The property is located at 501 W Peachtree St Lakeland, FL.
What is the asking price?
The asking price for this property is $748,000.
What are key features of this property?
This property features: Prime downtown Lakeland location with STUNNING VIEWS of Downtown and Lake Wire.; Adjacent to the new 'Prospect On Lake Wire' retail and multifamily development.; 2,958 sf office building with a VERY OPEN AND CREATIVE workspace.
