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    Property profile & analytics

    2040 Shepherd Rd Mulberry, FL 33860

    • Super regional malls
    • 47,922 SF
    • 8.65 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2977700
    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

    • Publix Pharmacy at Imperial Lakes Plaza / Pharmacy
    • Primo Water Refill / Big Box & Wholesale Store
    • Blue Rhino Propane Exchange / Propane Supplier
    • City National Bank - Presto ATM / Atm
    • Western Union / Bank / Credit Union

    Property Details for 2040 Shepherd Rd

    Year built
    2001
    Lot size
    8.65 lot acres
    Property size
    47,922 SF
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    232926141964000010
    APU
    232926141964000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $8,785,000
      Current use
      COMMERCIAL (GENERAL)
      $13,575,000
      Change: +55% Conversion: Easy
      OFFICE BUILDING
      $11,815,000
      Change: +35% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $11,665,000
      Change: +33% Conversion: Difficult
      RETAIL STORES
      $7,445,000
      Change: -15% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $7,410,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mulberry
    County
    Polk
    State
    Florida
    Longitude
    -81.9883
    Latitude
    27.9371
    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
    $105,797
    $0.00
    $0.00
    $7,492,312
    -
    $0.00
    $0.00
    $7,492,312

    Comparable in this City

    • Value Estimation
      $5,295,000
      33,415 SF

      7050 Church Ave

      REGIONAL SHOPPING CENTER, MALL • 33,415 SF
      7050 Church Ave, Mulberry, FL 33860-2085
      View Details
    • Value Estimation
      $26,410,000
      214,479 SF

      6743 Church Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 214,479 SF
      6743 Church Ave, Mulberry, FL 33860-2080
      View Details
    • Value Estimation
      $18,455,000
      221,322 SF

      201 Kid Ellis Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 221,322 SF
      201 Kid Ellis Rd, Mulberry, FL 33860-8399
      View Details
    • Value Estimation
      $965,000
      16,848 SF

      1280 Church Ave

      SHOPPING CENTER, STRIP CENTER • 16,848 SF
      1280 Church Ave, Mulberry, FL 33860-2000
      View Details
    • Value Estimation by Request
      2,160 SF

      305 Church Ave

      SHOPPING CENTER, STRIP CENTER • 2,160 SF
      305 Church Ave, Mulberry, FL 33860-2417
      View Details
    • Value Estimation by Request
      1.41 Acres

      Imperialakes Blvd

      SHOPPING CENTER COMMON AREA • 1.41 Acres
      Imperialakes Blvd, Mulberry, FL 33860
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      568 SF

      Mulberry Retail Property For Sale

      Fully leased, newly renovated retail property in Mulberry, Florida.
      801-803 N Church Ave, Mulberry, FL 33860
      View Details
    • $1,852,941
      8,400 SF

      Seafood Storage, Distribution & Catering

      Equipped facility ideal for food-related and distribution businesses.
      174 NW 9Th Ave, Mulberry, FL 33860
      View Details
    • Contact for pricing
      900 SF

      Small Office/Storefront in Mulberry

      900 SF office/storefront on 0.33 AC lot.
      403 N Church Ave, Mulberry, FL 33860
      View Details
    • Contact for pricing
      0.20 Acres

      Land in Mulberry, Florida

      0.20 acre lot in Mulberry, close to shopping and entertainment.
      Arnaz Dr, Mulberry, FL 33860
      View Details
    • Contact for pricing

      Mulberry Retail Site on SR 37

      Highly visible 1.1-acre net retail site on State Road 37.
      Church Ave N, Mulberry, FL 33860
      View Details
    • $756,000

      Industrial Acres For Development

      7.56+/- acres for industrial development in Mulberry, Florida.
      Sunset Rd, Mulberry, FL 33860
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo

      Mulberry Commercial Space for Lease

      Prime commercial space in Mulberry, FL, ideal for various businesses.
      701 E Canal St, Mulberry, FL 33860
      View Details
    • $2,500 /Mo

      Prime Commercial Space in Mulberry

      Excellent commercial space for lease in a strategic location.
      701 E Canal St, Mulberry, FL 33860
      View Details
    • Contact for pricing
      3,140 SF

      Prime Mulberry Commercial Space

      3,140 SF Office/Retail Building
      701 Canal St, Mulberry, FL 33860
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space on S Florida

      Retail space with frontage on S Florida Ave/SR 37.
      6751 N Church Ave, Mulberry, FL 33860
      View Details
    • $9,480 /Mo
      2,424 SF

      Renovated Office Suite Available

      Updated office space with highway exposure, kitchen, and parking.
      1005 N Church Ave, Mulberry, FL 33860
      View Details
    • $14 SF/Yr
      5,326 SF

      Mulberry Industrial Warehouse For Lease

      5,326 SF Warehouse, 1.83 Acres
      4055 Davis Rd, Mulberry, FL 33860
      View Details

    Property Visit Statistics

    • Visits by month
      108.5k
    • Visitors by month
      44.1k
    • Avg Time on site
      22 min
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    Mulberry, FL 33860
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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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