Triplex on Main
980 S LAKE SHORE WAY Lake Alfred, FL 33850
980 S LAKE SHORE WAY, Lake Alfred, FL, 33850
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For Sale
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Triplex with three tenant-occupied residential units on a divided highway corner location.
Property Size2,506 SF
Price / SF$199.52
Days on Market118
Property Features for 980 S LAKE SHORE WAY
General Information
- Standard status
- Active
- Size
- 2,506 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1920
Listing agency
CENTURY 21 Myers Realty
(407) 463-6952
Listed by
Brent Morse · License #FL
Source
Crexi
Added: Mar 26 Updated: Jul 20 at 9:31PM Checked: Jul 20 at 9:31PM
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 for-sale triplex includes three residential units that are currently tenant-occupied. The property offers a mixed-use redevelopment context and provides interim income while future plans are considered.
The address is 980 S Lake Shore Way in Lake Alfred, at the corner of Mackay Blvd, on a divided highway through the central stretch of town. The location is described as highly visible with convenient access along the city’s main corridor.
Offered as a single property, it is positioned for either continued income use or redevelopment planning given its prominent frontage along the primary thoroughfare.
The address is 980 S Lake Shore Way in Lake Alfred, at the corner of Mackay Blvd, on a divided highway through the central stretch of town. The location is described as highly visible with convenient access along the city’s main corridor.
Offered as a single property, it is positioned for either continued income use or redevelopment planning given its prominent frontage along the primary thoroughfare.
Key Highlights
- 1920‑built mixed‑use triplex with three residential units
- All three units are tenant‑occupied, providing potential interim income
- Located on a divided highway in Lake Alfred along the city’s main corridor
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.6k | $16.20 |
| − Vacancy | −$2.6k | −$1.05 |
| EGI | $38.0k | $15.15 |
| − OpEx | −$11.4k | −$4.54 |
| NOI | $26.6k | $10.60 |
2,506 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$379.6K
$332.1K – $442.9K
NOI $26,571 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$339.1K
$296.7K – $395.6K
NOI $23,737 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$602.2K
$526.9K – $702.6K
NOI $42,155 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Triplex - Triplex with three tenant-occupied residential units on a divided highway corner location.
Where is this triplex located?
The property is located at 980 S LAKE SHORE WAY Lake Alfred, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1920‑built mixed‑use triplex with three residential units; All three units are tenant‑occupied, providing potential interim income; Located on a divided highway in Lake Alfred along the city’s main corridor
