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    Lakeland Park Ctr Dr. & Nebraska Ave Lakeland, FL 33809

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    Lakeland Park Ctr Dr. & Nebraska Ave Lakeland, FL 33809

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    • Retail properties & Spaces
    • 239,580 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Lakeland Park Ctr Dr. & Nebraska Ave

    Property size
    239,580 SF
    Property type
    Retail properties & Spaces

    Description

    Lakeland Park Center offers an exceptional retail investment opportunity in the thriving Lakeland, Florida market. This power center boasts a total of 239,580 square feet across two suites, with 20,000 square feet currently available for lease. Situated on a 0.56-acre lot at the intersection of Lakeland Park Center Drive and Nebraska Avenue, the property benefits from high visibility and accessibility, directly abutting the Shoppes of Lakeland. The center enjoys a prime location with excellent traffic counts due to its proximity to US-98 and I-4. This established center features a strong tenant mix including national big box and junior anchors such as Dick's Sporting Goods, Ross Dress for Less, Northern Tool + Equipment, Esporta, Floor & Décor, PetSmart, Old Navy, Ulta, Shoe Carnival, and Five Below. The property's strategic location and impressive tenant roster provide a stable foundation for future growth and profitability. Furthermore, multiple outparcels are available for development, presenting additional opportunities for expansion and value creation. This is a rare chance to acquire a significant retail presence in a high-demand area of Polk County, Florida, with a zip code of 33809. The property is classified as Commercial Retail with multiple tenancies.

    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
    -81.9665
    Latitude
    28.0888

    Comparable in this City

    • Value Estimation by Request
      85,253 SF

      6140 Us Highway 98

      Lifestyle centers • 85,253 SF
      6140 Us Highway 98, Lakeland, FL 33809
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    • Value Estimation by Request
      1,510 SF

      5504 Us Hwy 98th N

      NURSERY, GREENHOUSE, FLORIST • 1,510 SF
      5504 Us Hwy 98th N, Lakeland, FL 33809-3101
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    • Value Estimation by Request

      4011 Us Highway 98

      Retail properties & Spaces
      4011 Us Highway 98, Lakeland, FL 33809
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    • Value Estimation by Request
      24,394 SF

      3715 Hopewell Ave

      Retail properties & Spaces • 24,394 SF
      3715 Hopewell Ave, Lakeland, FL 33809
      View Details
    • Value Estimation
      $7,160,000
      89,721 SF

      4275 Us Hwy 98th N

      DEPARTMENT STORE • 89,721 SF
      4275 Us Hwy 98th N, Lakeland, FL 33809-3827
      View Details
    • 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
      View Details

    Similar Nearby for Sale

    • $5,900,000

      Lakeland Retail Space For Sale

      Expansive retail space in Lakeland Square Mall, Lakeland, Florida.
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    • $5,486,804
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      Retail Property Near Lakeland Square

      Retail property with national tenants and below market rents.
      3954-3970 Us Highway 98 N, Lakeland, FL 33809
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      104,892 SF

      Lakeland Retail Opportunity on US-98

      Spacious retail property in Lakeland's key commercial corridor.
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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.
      Old Polk City Rd, Lakeland, FL 33809
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    • $275,000
      6.02 Acres

      6.02 Acres with Active Permits

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    • $575,000

      Lakeland Land on US Highway

      1.61 acre commercial lot with high traffic exposure.
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    Similar Nearby for Lease

    • Contact for pricing

      Turnkey Restaurant Space Available

      Restaurant space with drive-thru, excellent visibility, high traffic.
      5750 Us Highway 98 N, Lakeland, FL 33809
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      Retail Space For Rent

      Retail space available for lease in Lakeland, Florida.
      4901-4997 Us Highway 98 North, Lakeland, FL 33809
      View Details
    • Contact for pricing

      High Visibility Lakeland Power Center

      Retail spaces and outparcels available in high-traffic Lakeland location.
      3715 Hopewell Ave, Lakeland, FL 33809
      View Details
    • Contact for pricing
      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
      View Details
    • $22 SF/Yr
      5,600 SF

      Publix-Anchored Retail Space Available

      Retail space in Publix-anchored center at high-traffic intersection.
      5147-5239 Us Highway 98 S, Lakeland, FL 33809
      View Details
    • $3 SF/Yr

      High-Traffic Office/Retail Space Available

      1,200 SF corner unit on US 98 North, Lakeland.
      5508 Us Highway 98 N, Lakeland, FL 33809
      View Details
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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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