Multi-Tenant Small-Bay
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520 ALICIA RD, Lakeland, FL 33801
Concrete block facility with flexible bays serving service, automotive, trade, and light industrial users.
Property Size14,400 SF
Lot Size0.65 Acres
Price / SF$148.75
Days on Market61
Property Features for 520 ALICIA RD
General Information
Standard status
Active
Size
14,400 SF
Class
B
Lot size
0.65 Acres
Property subtype
Industrial
Occupancy
100%
Lease Type
Gross
Net Operating Income
$180,013
Additional Details
Cap Rate
8.4%
Warehouse Space
14,400 SF
Building Details
Year Built
1985
Year Renovated
2024
Units
1
Tenancy
Multi
Building Size
14,400 SF
Construction
concrete block
Listing Agency:
Marcus & Millichap - Orlando
Listed By:
David Vaughan · License #FL SL3294062
(407) 557-3829
Source:
Crexi
Added: Aug 17
Changed: Oct 15
Last Checked: Oct 16 at 7:16AM
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 - Orlando
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Investment Insights
Based on property information with market context.
This 14,400-square-foot warehouse facility contains 17 occupied tenant spaces within a concrete block building constructed in 1985. Unit sizes range from 800 to 2,400 square feet, creating a varied configuration for local service, automotive, trade, and light industrial operations. The property sits on a 0.65-acre site and is fully leased.
Located at 520 Alicia Rd in Lakeland, Florida, the facility is near Downtown Lakeland and positioned between Tampa and Orlando. Its multi-tenant layout provides diversified occupancy across smaller industrial suites, while the building’s flexible bay sizes support a range of commercial users.
Located at 520 Alicia Rd in Lakeland, Florida, the facility is near Downtown Lakeland and positioned between Tampa and Orlando. Its multi-tenant layout provides diversified occupancy across smaller industrial suites, while the building’s flexible bay sizes support a range of commercial users.
Key Highlights
- 14,400‑square‑foot warehouse facility on a 0.65‑acre site
- 100% occupied by 17 tenants
- Flexible unit sizes from 800 to 2,400 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$83,416
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,668,320
$1.7M
Cap Rate 7%
$1,191,657
$1.2M
Cap Rate 9%
$926,844
$926.8K
Market Conditions
NOI Build-Up for 14,400 SF
Gross rent
$107.1K $7.44/SF
− Vacancy
−$9.0K −$0.62/SF
EGI
$98.1K $6.82/SF
− OpEx
−$14.7K −$1.02/SF
NOI
$83.4K $5.79/SF
Area
Lakeland, FL
Vacancy
8.40%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,668,320
Cap Rate 7%
$1,191,657
Cap Rate 9%
$926,844
Alternative Uses
Best Use
Warehouse
$1.19M
$1.04M – $1.39M
NOI $83,416 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,231 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Lakeland, FL
Similar Off Market Nearby
- Captain D's Moving — 34620 FL-54, Zephyrhills, FL 33541
- Space Shop Self Storage — 1141 E Memorial Blvd, Lakeland, FL 33801
Frequently Asked Questions
What type of property is this?
Warehouse - Concrete block facility with flexible bays serving service, automotive, trade, and light industrial users.
Where is this warehouse located?
The property is located at 520 ALICIA RD Lakeland, FL.
What is the asking price?
The asking price for this property is $2,142,000.
What are key features of this property?
This property features: 14,400‑square‑foot warehouse facility on a 0.65‑acre site; 100% occupied by 17 tenants; Flexible unit sizes from 800 to 2,400 square feet
