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

    5010 Florida Ave Lakeland, FL 33813-2510

    • Drug stores
    • 14,757 SF
    • 1.57 lot acres
    OFF-MARKET
    Last Sale
    May 20, 2024
    $4,530,000
    Value Estimations
    $4,490,000
    Show details
    Cap Rate Potential
    3.7%
    Drug stores
    Location Intelligence
    Property ID
    US19-0631333
    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

    • Danielle Baldwin / Family Practice Physician
    • Cardtronics ATM / Atm
    • MoneyGram / Money Transfer Service
    • Alanna Lasseter / Social Worker
    • CDReload - Online Bitcoin ATM / Atm / Money Transfer Service

    Property Details for 5010 Florida Ave

    Year built
    2000
    Lot size
    1.57 lot acres
    Property size
    14,757 SF
    Property type
    Drug stores
    APN
    232912000000021030
    APU
    232912000000021030

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,530,000
      ML approach
      $4,530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,361,000
      Market price range: $1.43M - $4.36M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,745,000
      Current use
      COMMERCIAL (GENERAL)
      $3,810,000
      Change: +39% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,650,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $3,625,000
      Change: +32% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9596
    Latitude
    27.9745
    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
    $39,725
    $1,128,815
    $1,453,183
    $2,581,998
    -
    $1,128,815
    $1,453,183
    $2,581,998

    Comparable in this City

    • Value Estimation
      $580,000
      12,772 SF

      6170 Lakeland Highlands Rd

      DRUG STORE, PHARMACY • 12,772 SF
      6170 Lakeland Highlands Rd, Lakeland, FL 33813-3850
      View Details
    • Value Estimation
      $510,000
      16,817 SF

      6985 Florida Ave

      DRUG STORE, PHARMACY • 16,817 SF
      6985 Florida Ave, Lakeland, FL 33813-3318
      View Details
    • Value Estimation
      $7,320,000
      17,270 SF

      4340 Florida Ave

      DRUG STORE, PHARMACY • 17,270 SF
      4340 Florida Ave, Lakeland, FL 33813-1631
      View Details
    • Value Estimation
      $7,745,000
      16,445 SF

      6210 Lakeland Highlands Rd

      DRUG STORE, PHARMACY • 16,445 SF
      6210 Lakeland Highlands Rd, Lakeland, FL 33813-3844
      View Details
    • Value Estimation
      $495,000
      4,006 SF

      4630 Florida Ave

      FINANCIAL BUILDING • 4,006 SF
      4630 Florida Ave, Lakeland, FL 33813-2122
      View Details
    • Value Estimation by Request
      48,751 SF

      4525 Florida Ave

      RETAIL STORES (PERSONAL SERVICES) • 48,751 SF
      4525 Florida Ave, Lakeland, FL 33813-2184
      View Details

    Similar Nearby for Sale

    • $30,000

      Established Business Location For Sale

      Prime retail location with established business history in Lakeland, FL.
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      Established Alterations Business For Sale

      Turn-key alterations business with loyal clientele in high-traffic location.
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    • $3,500,000
      5,901 SF

      Lakeland Restaurant Building For Sale

      Second-generation, renovated restaurant building for sale in Lakeland, Florida.
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      View Details
    • $1,600,000
      Pending

      Retail Gas Station Opportunity

      Gas station for sale with high visibility near Wawa.
      5383 S Florida Ave, Lakeland, FL 33813
      View Details
    • $1,600,000
      6,380 SF

      Lakeland Retail Investment Opportunity

      High-visibility Citgo gas station, prime location.
      5383 Florida Ave, Lakeland, FL 33813
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    • $580,000
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      Lakeland Office Building - Great Value!

      Prime location, renovated, solar powered.
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    Similar Nearby for Lease

    • $22 SF/Yr
      9,967 SF

      Lakeland Retail Center Investment

      Prime South Lakeland storefront spaces available.
      6595 Florida Ave, Lakeland, FL 33813
      View Details
    • $33,000

      Lakeland Retail/Office Space Available

      Retail and office spaces for lease in Lakeland, Florida.
      3830 S Florida Ave, Lakeland, FL 33813
      View Details
    • $45 SF/Yr
      3,870 SF

      S Florida Ave Retail Opportunity

      Brand new, 3,870 SF retail/office building
      5216 Florida Ave, Lakeland, FL 33813
      View Details
    • Contact for pricing
      750 SF

      Retail Suites on Florida Avenue

      Retail suites available in high-traffic Lakeland location.
      4233-4311 S Florida Ave, Lakeland, FL 33813
      View Details
    • $18 SF/Yr
      1,500 SF

      Lakeland Retail Center Spaces Available

      Retail spaces for lease in Lakeland commercial center.
      6631-6655 S Florida Ave, Lakeland, FL 33813
      View Details
    • $16 SF/Yr
      36,314 SF

      Shoppes of Christina: Lakeland Retail Center

      Thriving Lakeland retail center; 7,000 SF available.
      6645 Florida Ave, Lakeland, FL 33813
      View Details
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    5010 Florida Ave
    Lakeland, FL 33813-2510
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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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