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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1621 Florida Ave Lakeland, FL 33805-3107

    • Retail space
    • 6,000 SF
    • 1.45 lot acres
    OFF-MARKET
    Value Estimations
    $940,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4002965
    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

    • U-Haul Storage of Lakeland / Moving Supply Store / Packaging Supply Store
    • Self-Storage at U-Haul / Self-Storage Facility / Moving And Storage Service
    • Propane Refill at U-Haul / Propane Supplier / Moving And Storage Service
    • Truck Sales at U-Haul / Used Truck Dealer / Ford Dealer
    • Moving Supplies Showroom at U-Haul Storage of Lakeland / Moving Supply Store / Packaging Supply Store

    Property Details for 1621 Florida Ave

    Year built
    1957
    Lot size
    1.45 lot acres
    Property size
    6,000 SF
    Zone code
    C-2
    Property type
    Retail space
    APN
    242807168400000060
    APU
    242807168400000060

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,125,000
      6.5%
      $1,035,000
      7%
      $965,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $872,000
      Market price range: $301k - $872k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,115,000
      Current use
      COMMERCIAL (GENERAL)
      $1,550,000
      Change: +39% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,485,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $1,475,000
      Change: +32% Conversion: Difficult
      OFFICE BUILDING
      $1,400,000
      Change: +25% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,100,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.957
    Latitude
    28.0674
    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
    $15,628
    $240,160
    $617,090
    $857,250
    -
    $240,160
    $617,090
    $857,250

    Comparable in this City

    • Value Estimation
      $1,205,000
      8,000 SF

      1580 Florida Aven

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      1580 Florida Aven, Lakeland, FL 33805-3652
      View Details
    • Value Estimation by Request
      900 SF

      1466 Kathleen Rd

      RETAIL STORES (PERSONAL SERVICES) • 900 SF
      1466 Kathleen Rd, Lakeland, FL 33805-3431
      View Details
    • Value Estimation by Request
      3,689 SF

      1231 Lakeland Hls Blvd

      RETAIL STORES (PERSONAL SERVICES) • 3,689 SF
      1231 Lakeland Hls Blvd, Lakeland, FL 33805-4673
      View Details
    • Value Estimation
      $4,195,000
      46,325 SF

      2425 Us Hwy 98th N

      RETAIL STORES (PERSONAL SERVICES) • 46,325 SF
      2425 Us Hwy 98th N, Lakeland, FL 33805-2410
      View Details
    • Value Estimation by Request
      1,764 SF

      632 5th St

      RETAIL STORES (PERSONAL SERVICES) • 1,764 SF
      632 5th St, Lakeland, FL 33805-4373
      View Details
    • Value Estimation by Request
      2,200 SF

      1125 Lakeland Hls Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,200 SF
      1125 Lakeland Hls Blvd, Lakeland, FL 33805-4655
      View Details

    Similar Nearby for Sale

    • $1,700,000
      0.90 Acres

      Gas Station Plus Vacant Lot

      Operating gas station and vacant lot on 0.9 acres.
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    • Contact for pricing
      3.67 Acres

      Lakeland Retail Land - 3 Parcels

      Three pad-ready lots, ideal retail location.
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      Lakeland Restaurant Property For Sale

      Restaurant property with long-term lease and annual rent increases.
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    • $1,050,000
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      Lakeland Commercial Park Land Available

      Developed commercial parcels available in Lakeland, Florida, near I-4.
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    • $1,400,000

      Lakeland Commercial Land for Sale

      Prime 1.4-acre commercial pad, I-4 & SR 33
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    • $1,150,000
      1.15 Acres

      Lakeland Commercial Land, 1.15 Acres

      Prime 1.15-acre commercial lot in Lakeland, FL
      0 4Th St, Lakeland, FL 33805
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,200 SF

      Lakeland Warehouse Space Available

      Warehouse space with dock high access and sprinkler system.
      4725 E Lakeland Commerce Pkwy, Lakeland, FL 33805
      View Details
    • $3,800 /Mo
      2,150 SF

      Medical Office Near Lakeland Regional

      Medical office building near Lakeland Regional and Watson Clinic.
      1525 Lakeland Hills Blvd, Lakeland, FL 33805
      View Details
    • Contact for pricing
      10,920 SF

      Lakeland Dock High Warehouse Space

      Dock high warehouse space for lease in Lakeland, Florida.
      4040 N Combee Rd, Lakeland, FL 33805
      View Details
    • Contact for pricing
      200,242 SF

      Lakeland Warehouse: 200,242 SF

      Large industrial warehouse space available in Lakeland, Florida.
      6870 Firstpark Blvd, Lakeland, FL 33805
      View Details
    • $12,720 /Mo

      Class A Office Space Available

      Professional office space for lease in North Lakeland.
      1910 Lakeland Hills Blvd, Lakeland, FL 33805
      View Details
    • $13 SF/Yr
      2,500 SF

      Warehouse Space Near I-4 Corridor

      Well-maintained commercial park with easy access to major roadways.
      2372 Old Combee Rd, Lakeland, FL 33805
      View Details
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    1621 Florida Ave
    Lakeland, FL 33805-3107
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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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