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    8910 State Road 33 Lakeland, FL 33868
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    8910 State Road 33, Lakeland, FL 33868

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    • Warehouses
    • 1,010,800 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 8910 State Road 33

    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional Class A industrial property, the Midway Logistics Center, offers 1,010,800 square feet of flexible space for lease in Lakeland, Florida. Located at 8910 State Rd 33 N, Polk City, FL 33868, this expansive facility sits on a 77-acre lot and is divisible to a minimum of 533,520 square feet. The building boasts a modern design, featuring a 40-foot ceiling height, 220 dock-high doors (9' x 10'), and 4 drive-in doors (12' x 14') with concrete ramps. The cross-dock loading design optimizes efficiency, complemented by a spacious 190-foot truck court, 310 trailer parking spaces, and 400 employee parking spots. The building's construction is tilt-wall, with an 8-inch reinforced floor, TPO roofing (R19 rating), and an ESFR sprinkler system. The electrical system provides 1,200 amps (3-phase) power, and LED lighting is installed throughout. Column spacing is 50' x 54' (60' speed bay). Utilities are provided by Polk City. The property is zoned industrial and is available in phases: Phase I in Q1 2023 and Phase II in Q2 2023. This prime location offers unparalleled access to major transportation routes, making it an ideal choice for manufacturing, warehousing, and distribution operations. The building dimensions are 520' x 1944'. Verizon data is available.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.877
    Latitude
    28.1509

    Comparable in this City

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      9100 Golden Gate Blvd

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      2,600 SF

      125 Bougainvillea Ave

      MINI-WAREHOUSE, STORAGE
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    • Value Estimation by Request
      3,344 SF

      110 Arborvitae Ln

      MINI-WAREHOUSE, STORAGE
      110 Arborvitae Ln, Polk City, FL 33868
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    • Value Estimation
      $965,000
      9,980 SF

      16181 Commonwealth N Ave

      MINI-WAREHOUSE, STORAGE
      16181 Commonwealth N Ave, Polk City, FL 33868
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      474,600 SF

      Polk City Warehouse Space

      474,600 SF warehouse space available for lease.
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    • Contact for pricing

      Distribution Center in Polk County

      Located in the expanding Tampa-Orlando corridor, ideal for distribution.
      5900 Mount Olive Rd, Polk City, FL 33868
      View Details
    • Contact for pricing

      Stabilized Shopping Center Near I-4

      Well-occupied 10,192 SF center in rapidly developing Polk City.
      120 Carter Blvd, Polk City, FL 33868
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    8910 State Road 33
    Lakeland, FL 33868
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    8910 State Road 33, Lakeland, FL, 33868
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