Seven-Unit Flex
New
For Sale
$2,900,000
936 EDITH AVENUE, Lakeland, FL 33815
Concrete construction, three-phase power, and city utilities support a varied warehouse and office configuration.
Property Size24,000 SF
Price / SF$144.71
Days on Market5
Property Features for 936 EDITH AVENUE
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Warehouse
Warehouse & Industrial
Office Build-Out
1,600 SF
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Amenities
0.99 acres, Dimensions: 50x108, Paved
Metal
Public Sewer
Additional parcels description:, Parcel Number: 23-28-14-082500-013300, Public Survey Range: 23, Public Survey Section: 14, Annual Amount: $7,093.2, Tax Book Number: 28-51, 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, Lot: 133, Year: 2025, Zoning: C-3
Concrete
Office Only
Listing ID: MFRL4964667, Standard Status: Active, MLS Status: Active, Property Subtype: Warehouse, On market as of 2026-08-28, 1 day on market, Special Conditions: None
Ground Level
Built in 1964, Living area: 20040, Living area units: Square Feet, Building faces East, 1 storey, Construction Materials: Concrete
Subdivision: WALES GARDENS UNITS 01 & 02 RESUB, MLS Area (Major): 33815 - Lakeland, County/Parish: Polk
Electricity Available, Phone Available, Public, Water Connected, Water Source: Public
Slab
Close Of Escrow
Frontage Type: City Street, Road Surface: Paved
Building Details
Year Built
1964
Building Size
24,000 SF
Construction
concrete
Listing Agency:
CENTURY 21 MYERS REALTY
(863) 875-5656
Listed By:
Tony Acosta · License #3589261
Source:
Miharaandassociates
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 1:44PM
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 Lakeland flex property comprises seven separate units combining warehouse, office, and mini-warehouse space. The improvements feature concrete exterior construction, individually metered electric service, three-phase power, city water and sewer, and HVAC-equipped office areas. Most units have metal roofing, while Units 2 and 3 use TPO roofing.
Unit 1 contains approximately 10,000 SF, office and restroom areas, two dock-high roll-up doors, and an approximately 28-foot ceiling. Units 2 and 3 are each approximately 2,500 SF, while Unit 4 provides approximately 5,000 SF with a dock-high door and an approximately 28-foot ceiling. Additional space includes an approximately 1,600 SF office unit and two approximately 1,200 SF mini-warehouse bays with HVAC-equipped office/restroom areas and grade-level roll-up doors.
The property also includes a fully asphalt-paved yard and 30+ parking spaces. Unit 4 is leased for five years on a gross lease structure, providing existing rental income.
Unit 1 contains approximately 10,000 SF, office and restroom areas, two dock-high roll-up doors, and an approximately 28-foot ceiling. Units 2 and 3 are each approximately 2,500 SF, while Unit 4 provides approximately 5,000 SF with a dock-high door and an approximately 28-foot ceiling. Additional space includes an approximately 1,600 SF office unit and two approximately 1,200 SF mini-warehouse bays with HVAC-equipped office/restroom areas and grade-level roll-up doors.
The property also includes a fully asphalt-paved yard and 30+ parking spaces. Unit 4 is leased for five years on a gross lease structure, providing existing rental income.
Key Highlights
- Seven individual units combine warehouse, office, and mini‑warehouse space
- Unit 1 offers approximately 10,000 SF, two dock‑high roll‑up doors, and an approximately 28‑foot ceiling
- Unit 4 provides approximately 5,000 SF, a dock‑high door, and an approximately 28‑foot ceiling
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Essential Catering Solutions, Inc. — 1620 W Parker St, Lakeland, FL 33815
Frequently Asked Questions
What type of property is this?
Flex space - Concrete construction, three-phase power, and city utilities support a varied warehouse and office configuration.
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 individual units combine warehouse, office, and mini‑warehouse space; Unit 1 offers approximately 10,000 SF, two dock‑high roll‑up doors, and an approximately 28‑foot ceiling; Unit 4 provides approximately 5,000 SF, a dock‑high door, and an approximately 28‑foot ceiling
