Seven-Unit Flex
New
For Sale
$2,900,000
936 EDITH Avenue, Lakeland, FL 33815
Commercial Sale, LAKELAND, FL
Property Size24,000 SF
Lot Size0.99 Acres
Price / SF$144.71
Days on Market2
Property Features for 936 EDITH Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Subdivision
WALES GARDENS UNITS 01 & 02 RESUB
Lot features
Paved
Directions
Heading west on I-4 W, take exit 28 toward US-92/Lakeland. Use any lane to turn left onto FL-546. Turn right onto Edith Ave. Destination will be on the right
Standard status
Active
APN
23-28-14-082500-013300
Size
20,040 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
RESUB OF PART OF UNITS 1 & 2 WALES GARDENS PB 28 PG 51 LOTS 133 & 134A WALES GARDENS UNIT NO 1 PB 17 PG 24 LOTS 97, 105 & 107
Tax Annual Amount
7093
Legal Description
RESUB OF PART OF UNITS 1 & 2 WALES GARDENS PB 28 PG 51 LOTS 133 & 134A WALES GARDENS UNIT NO 1 PB 17 PG 24 LOTS 97, 105 & 107
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1964
Floors in Building
1
Flooring type
Concrete
Building materials
Concrete
Roof type
Metal
Listing Agency:
CENTURY 21 MYERS REALTY · Century 21 Real Estate
(863) 875-5656
Listed By:
Tony Acosta · License #SL3589261
(863) 224-5956
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 8:06AM
MLS# L4964667
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 seven-unit flex property combines warehouse, office, and mini-warehouse space within concrete construction. Unit 1 measures approximately 10,000 SF and includes offices, a restroom, two dock-high roll-up doors, and approximately 28-foot ceilings. Units 2 and 3 are each approximately 2,500 SF, while Unit 4 contains approximately 5,000 SF with a dock-high door and approximately 28-foot ceilings. Additional improvements include an approximately 1,600 SF office unit and two approximately 1,200 SF mini-warehouse bays with office and restroom areas, HVAC, and grade-level roll-up doors.
The property occupies 0.99 acres and includes an asphalt-paved yard with 30+ parking spaces. Electrical service is individually metered, with three-phase power serving the property. Public water and public sewer are available, and the buildings include metal roofing, with TPO roofing on Units 2 and 3. Unit 4 is leased under a five-year gross lease, providing an existing tenancy component. The property is zoned C-3 and was built in 1964.
The property occupies 0.99 acres and includes an asphalt-paved yard with 30+ parking spaces. Electrical service is individually metered, with three-phase power serving the property. Public water and public sewer are available, and the buildings include metal roofing, with TPO roofing on Units 2 and 3. Unit 4 is leased under a five-year gross lease, providing an existing tenancy component. The property is zoned C-3 and was built in 1964.
Key Highlights
- Seven‑unit flex property on 0.99 acres
- Unit 1: approximately 10,000 SF, two dock‑high doors, and approximately 28‑foot ceilings
- Unit 4: approximately 5,000 SF with a dock‑high door and approximately 28‑foot ceilings
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
$246,191
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
8.49%
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%
$4,923,820
$4.9M
Cap Rate 7%
$3,517,014
$3.5M
Cap Rate 9%
$2,735,456
$2.7M
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
$420.8K $21.00/SF
− Vacancy
−$92.6K −$4.62/SF
EGI
$328.3K $16.38/SF
− OpEx
−$82.1K −$4.10/SF
NOI
$246.2K $12.29/SF
Area
Lakeland, FL
Vacancy
22.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,923,820
Cap Rate 7%
$3,517,014
Cap Rate 9%
$2,735,456
Alternative Uses
Best Use
Office B
$3.52M
$3.08M – $4.10M
NOI $246,191 @ 7.0% cap · market cap 8.49%
Second Best
Warehouse
$1.66M
$1.45M – $1.93M
NOI $116,087 @ 7.0% cap · market cap 4.00%
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
Property Profile
Current Use
Lease Details
3
Dock-high doors
2
Drive-in doors
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Under-served
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete industrial improvements offer dock-high and grade-level loading, office areas, paved yard space, and multiple occupancy configurations.
Where is this flex space located?
The property is located at 936 EDITH Avenue 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 flex property on 0.99 acres; Unit 1: approximately 10,000 SF, two dock‑high doors, and approximately 28‑foot ceilings; Unit 4: approximately 5,000 SF with a dock‑high door and approximately 28‑foot ceilings
