Renovated Two-Unit
For Sale
$399,000
Pending
621 HOLLINGSWORTH ROAD, Lakeland, FL 33801
Each residence includes a dedicated laundry room and updated kitchen and bathroom finishes.
Property Size1,546 SF
Days on Market63
Property Features for 621 HOLLINGSWORTH ROAD
General Information
Standard status
Pending
Size
1,546 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
dedicated laundry rooms
Building Details
Building Size
1,546 SF
Year Built
1952
Buildings
1
Listing Agency:
LA ROSA REALTY PRESTIGE
(863) 940-4850
Listed By:
Alvaro Jarquin Bernard · License #3304920
(863) 940-4850
Source:
Tinaheim.kw
Added: Jul 1
Changed: Aug 31
Last Checked: Aug 31 at 12:42PM
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 LA ROSA REALTY PRESTIGE
Investment Insights
Based on property information with market context.
This renovated duplex at 621 Hollingsworth Rd in Lakeland contains 1,546 square feet and two residential units. Each unit offers two bedrooms, one bathroom, a dedicated laundry room, new flooring, and refreshed interior finishes. Kitchen improvements include granite countertops, new cabinetry, and stainless steel appliances, while the bathrooms feature new tile and vanities.
The property also has fresh paint inside and out along with a new roof. Shopping, dining, schools, parks, medical facilities, and major roadways are located nearby, providing access to a broad range of daily services and destinations in Lakeland.
The property also has fresh paint inside and out along with a new roof. Shopping, dining, schools, parks, medical facilities, and major roadways are located nearby, providing access to a broad range of daily services and destinations in Lakeland.
Key Highlights
- Two‑unit duplex with 1,546 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Renovated kitchens with granite countertops, new cabinetry, and stainless steel appliances
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
$16,392
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
4.11%
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%
$327,840
$327.8K
Cap Rate 7%
$234,171
$234.2K
Cap Rate 9%
$182,133
$182.1K
Market Conditions
NOI Build-Up for 1,546 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
$25.0K $16.20/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$23.4K $15.15/SF
− OpEx
−$7.0K −$4.54/SF
NOI
$16.4K $10.60/SF
Area
Lakeland, FL
Vacancy
6.50%
Lease Rate
$16.20 /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%
$327,840
Cap Rate 7%
$234,171
Cap Rate 9%
$182,133
Alternative Uses
Best Use
Multifamily LT 5
$234.2K
$204.9K – $273.2K
NOI $16,392 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$209.2K
$183.1K – $244.1K
NOI $14,644 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$371.5K
$325.1K – $433.4K
NOI $26,006 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a dedicated laundry room and updated kitchen and bathroom finishes.
Where is this duplex located?
The property is located at 621 HOLLINGSWORTH ROAD Lakeland, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,546 square feet; Each unit includes 2 bedrooms and 1 bathroom; Renovated kitchens with granite countertops, new cabinetry, and stainless steel appliances
