7-Unit Warehouse
For Sale
Contact for pricing
931 N SWINDELL AVE, Lakeland, FL 33815
The property includes seven industrial units and carries Industrial Lighting zoning.
Property Size20,040 SF
Price / SF$144.71
Days on Market8
Property Features for 931 N SWINDELL AVE
General Information
Standard status
Active
Size
20,040 SF
Total Parking Spaces
30
Property subtype
Industrial
Zoning
Industrial Lighting
Building Details
Year Built
1964
Stories
1
Units
7
Tenancy
Multi
Listing Agency:
Century 21 Myers Realty
Listed By:
Tony Acosta · License #FL SL3589261
(863) 224-5956
Source:
Crexi
Added: Aug 29
Changed: Sep 2
Last Checked: Sep 4 at 3:33AM
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 Century 21 Myers Realty
Investment Insights
Based on property information with market context.
This warehouse property contains seven industrial units within a 20,040-square-foot industrial building. Constructed in 1964, the asset is classified under Industrial Lighting zoning and offers a multi-unit configuration for warehouse-oriented commercial use.
Key Highlights
- Seven‑unit industrial property
- 20,040 square feet of building area
- Industrial Lighting zoning
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
$116,087
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
4.00%
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%
$2,321,740
$2.3M
Cap Rate 7%
$1,658,386
$1.7M
Cap Rate 9%
$1,289,856
$1.3M
Market Conditions
NOI Build-Up for 20,040 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
$149.1K $7.44/SF
− Vacancy
−$12.5K −$0.62/SF
EGI
$136.6K $6.82/SF
− OpEx
−$20.5K −$1.02/SF
NOI
$116.1K $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%
$2,321,740
Cap Rate 7%
$1,658,386
Cap Rate 9%
$1,289,856
Alternative Uses
Best Use
Warehouse
$1.66M
$1.45M – $1.93M
NOI $116,087 @ 7.0% cap · market cap 4.00%
Second Best
Flex RnD
$1.54M
$1.35M – $1.80M
NOI $107,855 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$4.82M
$4.21M – $5.62M
NOI $337,105 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in Lakeland, FL
Questions? Ask Rey
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Similar Off Market Nearby
- Storage Zone Self Storage and Business Centers — 909 Munn Ave, Lakeland, FL 33815
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- StoreRight Self Storage — 1120 Kathleen Rd, Lakeland, FL 33805
Frequently Asked Questions
What type of property is this?
Warehouse - The property includes seven industrial units and carries Industrial Lighting zoning.
Where is this warehouse located?
The property is located at 931 N SWINDELL AVE Lakeland, FL.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Seven‑unit industrial property; 20,040 square feet of building area; Industrial Lighting zoning
