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

    308 1st Ave Mulberry, FL 33860-2456

    • Warehouses
    • 53,606 SF
    • 5.01 lot acres
    OFF-MARKET
    Last Sale
    Aug 03, 2022
    $15,768,865
    Value Estimations
    $12,085,000
    Show details
    Cap Rate Potential
    2.9%
    Warehouses
    Location Intelligence
    Property ID
    US18-7220246
    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

    • Warehouses

    Property Details for 308 1st Ave

    Year built
    1964
    Lot size
    5.01 lot acres
    Property size
    53,606 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    233002152300000011
    APU
    233002152300000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $11,200,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,675,000
      6.5%
      $8,010,000
      7%
      $7,440,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,683,000
      Market price range: $3.76M - $10.7M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $16,585,000
      COMMERCIAL (GENERAL)
      $15,185,000
      OFFICE BUILDING
      $13,215,000
      AUTO REPAIR, GARAGE
      $13,050,000
      NEIGHBORHOOD: SHOPPING CENTER
      $9,825,000
      RETAIL STORES
      $8,330,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mulberry
    County
    Polk
    State
    Florida
    Longitude
    -81.9753
    Latitude
    27.8977
    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
    $128,270
    $156,166
    $6,689,487
    $6,845,653
    -
    $156,166
    $6,689,487
    $6,845,653

    Comparable in this City

    • Value Estimation
      $11,500,000
      84,370 SF

      470 Fife Rd

      MINI-WAREHOUSE, STORAGE • 84,370 SF
      470 Fife Rd, Mulberry, FL 33860-8890
      View Details
    • Value Estimation by Request
      1,140 SF

      1250 Pr Mine Rd

      MINI-WAREHOUSE, STORAGE • 1,140 SF
      1250 Pr Mine Rd, Mulberry, FL 33860-8168
      View Details
    • Value Estimation
      $660,000
      6,168 SF

      106 Kid Ellis Rd

      MINI-WAREHOUSE, STORAGE • 6,168 SF
      106 Kid Ellis Rd, Mulberry, FL 33860-8398
      View Details
    • Value Estimation
      $10,005,000
      13,750 SF

      3000 Mulford Rd

      MINI-WAREHOUSE, STORAGE • 13,750 SF
      3000 Mulford Rd, Mulberry, FL 33860-8665
      View Details
    • Value Estimation
      $510,000
      10,446 SF

      4090 Hwy 60th E

      MINI-WAREHOUSE, STORAGE • 10,446 SF
      4090 Hwy 60th E, Mulberry, FL 33860
      View Details
    • Value Estimation by Request
      3,750 SF

      1735 Industrial Park Rd

      MINI-WAREHOUSE, STORAGE • 3,750 SF
      1735 Industrial Park Rd, Mulberry, FL 33860
      View Details

    Similar Nearby for Sale

    • $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
    • $1,495,000
      27.00 Acres

      Prime Polk County Industrial Land

      27 Acres, Mulberry, FL - $1.495M
      0 Cozart Rd, Mulberry, FL 33860
      View Details
    • $350,000

      Industrial Property on Mulford Road

      Industrial property for sale in Mulberry, Florida.
      3150 Mulford Rd, Mulberry, FL 33860
      View Details
    • $1,690,000
      26.00 Acres

      Industrial Land: Mulberry, FL

      26+ Acres, Heavy Industrial Potential
      0 Prairie Mine Rd, Mulberry, FL 33860
      View Details
    • $356,000

      Industrial Site on Highway 37

      0.82 Ac. industrial site on Highway 37 South.
      State Road 37 S, Mulberry, FL 33860
      View Details
    • $478,500

      Commercial Site Near Highway 60

      1.48-acre commercial site near Highway 60 in Mulberry, Florida.
      208 E Badcock Blvd, Mulberry, FL 33860
      View Details

    Similar Nearby for Lease

    • $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
    • $184 SF/Yr
      5,000 SF

      Prime Mulberry Flex Space Available

      5,000 SF Flex Space - 1,250 SF Vacant
      1840 Industrial Park Rd, Mulberry, FL 33860
      View Details
    • Contact for pricing

      Mulberry Outparcels For Rent

      Outparcels available in Publix-anchored center at signalized intersection.
      2040 Shepherd Rd, 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
    • $2,500 /Mo
      3,140 SF

      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
      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
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    308 1st Ave
    Mulberry, FL 33860-2456
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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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