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 Market16
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
(407) 557-3847
Listed By:
David Vaughan · License #FL SL3294062
Source:
Crexi
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 31 at 1:47PM
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
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 = 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
$83,416
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
3.89%
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%
$1,668,320
$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
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
$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 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%
$1,668,320
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in Lakeland, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
