Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1242 Olive St Lakeland, FL 33815-4320

    • Manufacturing properties
    • 2,032 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Jun 26, 2023
    $115,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4906396
    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.

    Current Use by Public Records

    • P & M Directional Boring Inc / Well Drilling Contractor
    • P & M Communications / Utility Contractor / General Contractor

    Property Details for 1242 Olive St

    Year built
    1989
    Lot size
    0.17 lot acres
    Property size
    2,032 SF
    Property type
    Manufacturing properties
    APN
    232823102500001090
    APU
    232823102500001090

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9752
    Latitude
    28.0391
    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
    $1,057
    $15,465
    $42,527
    $57,992
    -
    $15,465
    $42,527
    $57,992

    Comparable in this City

    • Value Estimation
      $2,475,000
      36,000 SF

      1033 Pne Chase Ave

      MANUFACTURING (LIGHT) • 36,000 SF
      1033 Pne Chase Ave, Lakeland, FL 33815-3139
      View Details
    • Value Estimation by Request
      6,000 SF

      1822 Memorial Blvd

      MANUFACTURING (LIGHT) • 6,000 SF
      1822 Memorial Blvd, Lakeland, FL 33815-1186
      View Details
    • Value Estimation
      $6,225,000
      31,500 SF

      6550 New Tampa Hwy

      MANUFACTURING (LIGHT) • 31,500 SF
      6550 New Tampa Hwy, Lakeland, FL 33815-3148
      View Details
    • Value Estimation by Request
      3,296 SF

      2108 Old Tampa Hwy

      MANUFACTURING (LIGHT) • 3,296 SF
      2108 Old Tampa Hwy, Lakeland, FL 33815-3538
      View Details
    • Value Estimation by Request
      2,646 SF

      1732 Olive St

      MANUFACTURING (LIGHT) • 2,646 SF
      1732 Olive St, Lakeland, FL 33815-4045
      View Details
    • Value Estimation
      $525,000
      12,640 SF

      1349 Olive St

      MANUFACTURING (LIGHT) • 12,640 SF
      1349 Olive St, Lakeland, FL 33815-4393
      View Details

    Similar Nearby for Sale

    • $449,000
      20,000 SF

      Lakeland Warehouse: I-4 Proximity

      20,000 SF Warehouse, $449,000
      1077 Pine Chase Ave, Lakeland, FL 33815
      View Details
    • $449,000
      1.00 Acre

      Lakeland Industrial Corner Lot

      High-dry 1-acre warehouse site, I-4 access.
      0 New Tampa Hwy & Pne Chase Rd, Lakeland, FL 33815
      View Details
    • $799,000
      2.50 Acres

      Lakeland Industrial Land for Sale

      2.5-Acre Industrial Lot in Lakeland, FL
      0 Old Tampa Hwy, Lakeland, FL 33815
      View Details
    • Contact for pricing
      181,720 SF

      Lakeland Industrial Building Redevelopment Opportunity

      17.11-acre site with industrial building and redevelopment potential.
      300 W Lime St, Lakeland, FL 33815
      View Details
    • $850,000
      2,600 SF

      Lakeland Retail Investment Opportunity

      High-traffic corner lot, 2600 sq ft.
      2425 Memorial Blvd, Lakeland, FL 33815
      View Details
    • $800,000
      2,600 SF

      Signalized Corner Retail Property

      0.92-acre corner property with high visibility and access.
      2425 W Memorial Blvd, Lakeland, FL 33815
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,200 SF

      Main Street Lakeland Commercial Space

      Versatile 2,200 sq ft building, Lake Beulah area.
      1040 Main St, Lakeland, FL 33815
      View Details
    • Contact for pricing
      699,800 SF

      Lakeland Warehouse Space Available

      Class-A Industrial Park, Multiple Units
      792 County Line Rd, Lakeland, FL 33815
      View Details
    • Contact for pricing
      247,018 SF

      Lakeland Distribution Center: Lease Now

      Large warehouse space, I-4 access, rail served.
      7105 New Tampa Hwy, Lakeland, FL 33815
      View Details
    • Contact for pricing
      1,550 SF

      Lakeland Warehouse Space Available

      Ground-level warehouse space for lease in Lakeland, Florida.
      5675 New Tampa Hwy, Lakeland, FL 33815
      View Details
    • Contact for pricing
      52,500 SF

      Lakeland Warehouse Space Available

      52,500 sq ft warehouse space for rent in Lakeland.
      2015 W Memorial Blvd, Lakeland, FL 33815
      View Details
    • Contact for pricing
      705,420 SF

      Lakeland Warehouse and Distribution Center

      Large industrial property with immediate Interstate 4 access in Central Florida.
      2451-2465 Old Tampa Hwy, Lakeland, FL 33815
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1242 Olive St
    Lakeland, FL 33815-4320
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.