Concrete Retail
For Sale
$799,000
610 N COMBEE Road, Lakeland, FL 33801
Commercial Sale, LAKELAND, FL
Property Size3,848 SF
Lot Size0.81 Acres
Price / SF$207.64
Days on Market94
Property Features for 610 N COMBEE Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-3
Subdivision
BALLENGERS RESUB
Directions
US Hwy 92 East (Memorial Blvd) to Combee Road, north on Combee.
Standard status
Active
APN
24-28-16-187000-003003
Size
3,848 SF
Lot size
0.81 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BALLENGERS RESUB PB 30 PG 48 BLK C BEG 320 FT N OF SE COR RUN W 469.91 FT NE 155.98 FT E 369.25 FT S 120 FT TO BEG LESS E 45 FT FOR RD R/W & LESS BEG 320 FT N OF SE COR OF NE1/4 RUN W 298.08 FT FOR POB CONT W 179.83 FT N 39 DEG 39 MIN 30 SEC E 77.99 FT E 130 FT S 60 FT TO POB
Tax Annual Amount
6354
Legal Description
BALLENGERS RESUB PB 30 PG 48 BLK C BEG 320 FT N OF SE COR RUN W 469.91 FT NE 155.98 FT E 369.25 FT S 120 FT TO BEG LESS E 45 FT FOR RD R/W & LESS BEG 320 FT N OF SE COR OF NE1/4 RUN W 298.08 FT FOR POB CONT W 179.83 FT N 39 DEG 39 MIN 30 SEC E 77.99 FT E 130 FT S 60 FT TO POB
Utilities
Cooling system
Central Air
Amenities
ADA-compliant restroom
ADA-compliant ramp
fully fenced and gated
air-conditioned
Building Details
Year built
1982
Floors in Building
1
Building materials
Concrete
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Sujata Katikala · License #3057328
(813) 618-3279
Added: May 28
Changed: Aug 19
Last Checked: Aug 29 at 11:06AM
MLS# TB8512085
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding retail property contains 3,848 square feet of open interior space with central air conditioning. The concrete building was constructed in 1982 and includes an ADA-compliant restroom and ramp. The 0.81-acre site also has a fenced and gated rear area with access from N Eastside Drive, in addition to frontage access on Combee Road.
The property is positioned near the intersection of N Combee Road and US-92/Memorial Highway, with Winn-Dixie and McDonald's nearby and Taco Bell approximately a block away. Combee Road carries 16,000+ AADT, while US-92 carries 34,000 AADT. Interstate 4 is approximately a 15-minute drive from the property. The address is in Lakeland, Florida, within Polk County.
The property is positioned near the intersection of N Combee Road and US-92/Memorial Highway, with Winn-Dixie and McDonald's nearby and Taco Bell approximately a block away. Combee Road carries 16,000+ AADT, while US-92 carries 34,000 AADT. Interstate 4 is approximately a 15-minute drive from the property. The address is in Lakeland, Florida, within Polk County.
Key Highlights
- 3,848 square feet of open retail space on 0.81 acres
- Concrete building constructed in 1982
- Central air conditioning throughout the interior
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
$43,213
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
5.41%
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%
$864,260
$864.3K
Cap Rate 7%
$617,329
$617.3K
Cap Rate 9%
$480,144
$480.1K
Market Conditions
NOI Build-Up for 3,848 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
$67.0K $17.40/SF
− Vacancy
−$5.2K −$1.36/SF
EGI
$61.7K $16.04/SF
− OpEx
−$18.5K −$4.81/SF
NOI
$43.2K $11.23/SF
Area
Lakeland, FL
Vacancy
7.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$864,260
Cap Rate 7%
$617,329
Cap Rate 9%
$480,144
Alternative Uses
Best Use
Retail
$617.3K
$540.2K – $720.2K
NOI $43,213 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$924.7K
$809.1K – $1.08M
NOI $64,730 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
123k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 47%
Dining 35%
Groceries 17%
Home Improvements & Furnishings 1%
McDonald's
Dining
30,203 visits/mo
0.2 miles
Harveys Supermarket
Groceries
21,070 visits/mo
0.2 miles
Sunoco
Shops & Services
13,372 visits/mo
0.2 miles
Shell
Shops & Services
11,687 visits/mo
0.4 miles
Taco Bell
Dining
10,183 visits/mo
0.1 miles
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 Retail 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?
Storefront property - Open, air-conditioned commercial space includes an ADA-compliant restroom and ramp.
Where is this storefront property located?
The property is located at 610 N COMBEE Road Lakeland, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,848 square feet of open retail space on 0.81 acres; Concrete building constructed in 1982; Central air conditioning throughout the interior
