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    124 S Florida Ave Lakeland, FL 33801

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    Property profile & analytics

    124 S Florida Ave Lakeland, FL 33801

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    • Office buildings
    • 7,310 SF
    • 0.57 lot acres
    For Lease
    $1,520,000
    View Listing →
    Downtown Class A Office Space For Lease
    $1,520,000
    7,443 SF

    Downtown Class A Office Space

    Class A office building with on-site parking and signage.

    124 S Florida Ave, Lakeland, FL
    View Listing
    Property ID
    US18-4453784
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Congressman Scott Franklin / Government Office
    • BDO / Accounting Firm / Tax Preparation
    • Scovazzo Small Business Consulting / Advertising Agency / Marketing & Advertising
    • Edgewood Engineering / Engineer
    • Western Union / Bank / Credit Union

    Property Details for 124 S Florida Ave

    Year built
    1963
    Lot size
    0.57 lot acres
    Property size
    7,310 SF
    Zone code
    C7
    Property type
    Office buildings
    APN
    242818201000019082
    APU
    242818201000019082

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,595,000
      6.5%
      $1,475,000
      7%
      $1,370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,611,000
      Market price range: $529k - $1.61M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,570,000
      Current use
      AUTO REPAIR, GARAGE
      $1,810,000
      Change: +15% Conversion: Difficult
      MEDICAL BUILDING
      $1,795,000
      Change: +14% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,340,000
      Change: -15% Conversion: Difficult
      RETAIL STORES
      $1,270,000
      Change: -19% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9569
    Latitude
    28.0432
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $66,279
    $323,544
    $2,952,764
    $3,276,308
    -
    $323,544
    $2,952,764
    $3,276,308

    Comparable in this City

    • Value Estimation
      $1,160,000
      5,500 SF

      223 Florida Ave

      OFFICE BUILDING • 5,500 SF
      223 Florida Ave, Lakeland, FL 33801-4621
      View Details
    • Value Estimation
      $4,910,000
      25,929 SF

      205 Orange St Ste, Unit 110

      OFFICE BUILDING • 25,929 SF
      205 Orange St Ste, Lakeland, FL 33801-4600
      View Details
    • Value Estimation
      $1,520,000
      7,365 SF

      832 Florida Ave

      OFFICE BUILDING • 7,365 SF
      832 Florida Ave, Lakeland, FL 33801-5202
      View Details
    • Value Estimation
      $1,355,000
      6,100 SF

      Lakeland, FL 33801

      OFFICE BUILDING • 6,100 SF
      Lakeland, FL 33801
      View Details
    • Value Estimation
      $2,015,000
      10,105 SF

      1215 Orange St

      OFFICE BUILDING • 10,105 SF
      1215 Orange St, Lakeland, FL 33801-5762
      View Details
    • Value Estimation
      $2,910,000
      14,600 SF

      404 Ingraham Ave

      OFFICE BUILDING • 14,600 SF
      404 Ingraham Ave, Lakeland, FL 33801-2031
      View Details

    Similar Nearby for Sale

    • $1,300,000

      Historic Lakeland Building For Sale

      18,244 SF historic building in downtown Lakeland.
      104 E Main St, Lakeland, FL 33801
      View Details
    • Contact for pricing
      Pending

      Historic Downtown Lakeland Retail Building

      Two-story, 16,650 sqft retail building in a vibrant downtown area.
      235 N Florida Ave, Lakeland, FL 33801
      View Details
    • $315,000
      Pending

      Versatile Multi-Use Office Building

      Adaptable office building near downtown, suitable for various business needs.
      1329 E Main St, Lakeland, FL 33801
      View Details
    • $199,000
      Pending

      Move-in Ready Office Conversion

      Single-story office on 0.26 acres, refreshed in 2017.
      1628 E Gary Rd, Lakeland, FL 33801
      View Details
    • $569,000
      980 SF

      Lakeland Commercial Property Investment Opportunity

      Prime commercial property near Florida Avenue in Lakeland, Florida.
      305 W Memorial Blvd, Lakeland, FL 33801
      View Details
    • $385,000

      Versatile Commercial Property on .92 Acres

      Affordable, updated commercial property with mixed-use potential in Lakeland, FL.
      4418 E County Road 542, Lakeland, FL 33801
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    Similar Nearby for Lease

    • Contact for pricing

      Lakeland Executive Office Center

      Turn-key executive office center in Lakeland, Florida.
      2420 N Crystal Lake Dr, Lakeland, FL 33801
      View Details
    • Contact for pricing

      Historic Office Building Near Lake

      Two-story office building with historic charm near downtown Lakeland.
      415 S Kentucky Ave, Lakeland, FL 33801
      View Details
    • Contact for pricing
      7,443 SF

      Downtown Class A Office Space

      Class A office building with on-site parking and signage.
      124 S Florida Ave, Lakeland, FL 33801
      View Details
    • Contact for pricing
      3,020 SF

      Class A Office Space Available

      80,000 SF Class A office building for rent.
      500 S Florida Ave, Lakeland, FL 33801
      View Details
    • $62,656

      Historic Office Building Near Lake

      Charming historic office space near downtown Lakeland and Lake Morton.
      415 S Kentucky Ave, Lakeland, FL 33801
      View Details
    • $5,500 /Mo
      5,440 SF

      Versatile Commercial Building in Lakeland

      5,440 sq ft building ideal for retail, office, or warehouse.
      4830 Us Highway 92 E, Lakeland, FL 33801
      View Details

    Property Visit Statistics

    • Visits by month
      2.6k
    • Visitors by month
      2.7k
    • Avg Time on site
      7 min
    View Listing
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    Lakeland, FL 33801
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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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