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    3715 Hopewell Ave Lakeland, FL 33809
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    3715 Hopewell Ave Lakeland, FL 33809

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    • Retail properties & Spaces
    • 24,394 SF
    • 0.56 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lakeland Park Center / Shopping Center & Mall

    Property Details for 3715 Hopewell Ave

    Lot size
    0.56 lot acres
    Property size
    24,394 SF
    Property type
    Retail properties & Spaces

    Description

    Lakeland Park Center, located at 3715 Hopewell Ave, Lakeland, FL 33809, presents a prime retail investment opportunity. This multi-tenant property boasts a total of 24,394 square feet, with a significant 20,000 square feet currently available for lease. Situated on a 0.56-acre lot in Polk County, the center benefits from exceptional visibility and accessibility. The property enjoys high traffic counts, with 58,000 AADT on US-98 and 103,500 AADT on Interstate 4, ensuring substantial exposure for tenants. The center is strategically located near several national big-box anchors, including Dick's Sporting Goods, Ross Dress for Less, Northern Tool + Equipment, Esporta, and Floor & Decor, creating a strong synergistic retail environment. Further enhancing its appeal, multiple outparcels are available for development, providing additional opportunities for expansion or diversification. This property is classified as retail and is ideal for businesses seeking high visibility and access to a substantial customer base in a thriving Lakeland location. The property's size and location make it an attractive option for a variety of retail uses.

    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
    -81.97
    Latitude
    28.0905

    Comparable in this City

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      1,510 SF

      5504 Us Hwy 98th N

      NURSERY, GREENHOUSE, FLORIST • 1,510 SF
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      85,253 SF

      6140 Us Highway 98

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      4011 Us Highway 98

      Retail properties & Spaces
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      $7,160,000
      89,721 SF

      4275 Us Hwy 98th N

      DEPARTMENT STORE • 89,721 SF
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    • Value Estimation by Request
      84,899 SF

      4901-4997 Us Highway 98

      Shopping centers • 84,899 SF
      4901-4997 Us Highway 98, Lakeland, FL 33809
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    Similar Nearby for Sale

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      Lakeland Retail Space For Sale

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    • $5,486,804
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      Retail Property Near Lakeland Square

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      Lakeland Retail Opportunity on US-98

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    • $349,900
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      Prime Corner Land in Lakeland

      2+ acre corner lot near I-4 with high visibility.
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      6.02 Acres

      6.02 Acres with Active Permits

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      Lakeland Land on US Highway

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    Similar Nearby for Lease

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      Turnkey Restaurant Space Available

      Restaurant space with drive-thru, excellent visibility, high traffic.
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      Retail Space For Rent

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      High Visibility Lakeland Power Center

      Retail spaces and outparcels available in high-traffic Lakeland location.
      3715 Hopewell Ave, Lakeland, FL 33809
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      1,800 SF

      Retail Space Near Lakeland Square

      Retail space available across from Lakeland Square Mall.
      4215-4275 Us Highway 98 N, Lakeland, FL 33809
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      Liberty Square Center Outparcels

      Lakeland Retail Center - Outparcels Available
      6140 Us Highway 98, Lakeland, FL 33809
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    • Contact for pricing

      Retail Center in Lakeland, Florida

      Power center with national anchors, high visibility, and traffic.
      Lakeland Park Ctr Dr. & Nebraska Ave, Lakeland, FL 33809
      View Details
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    Lakeland, FL 33809
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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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    3715 Hopewell Ave, Lakeland, FL, 33809
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