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

    5115 Socrum Loop Rd Lakeland, FL 33809-4288

    • Office buildings
    • 6,185 SF
    • 39.01 lot acres
    OFF-MARKET
    Last Sale
    Sep 07, 2021
    $75,488,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6129254
    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

    • TR Music & Voice Lessons / Training Center / Tutoring Service
    • Lakeland Stucco Repair / General Contractor / Renovation Specialist
    • V CvvC / Restaurant
    • islanders cleaning services / Hardware & Home Improvement
    • The Retreat at Lakeland / Apartment Complex

    Property Details for 5115 Socrum Loop Rd

    Year built
    1988
    Lot size
    39.01 lot acres
    Property size
    6,185 SF
    Zone code
    MF12
    Property type
    Office buildings
    APN
    242730000000014020
    APU
    242730000000014020

    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
    -81.9465
    Latitude
    28.1068
    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
    $1,199,292
    $0.00
    $0.00
    $70,785,172
    -
    $0.00
    $0.00
    $70,785,172

    Comparable in this City

    • Value Estimation by Request
      1,050 SF

      6350 Us Hwy 98th N

      OFFICE BUILDING • 1,050 SF
      6350 Us Hwy 98th N, Lakeland, FL 33809-6247
      View Details
    • Value Estimation by Request
      900 SF

      5990 Walt Loop Rd

      OFFICE BUILDING • 900 SF
      5990 Walt Loop Rd, Lakeland, FL 33809-6636
      View Details
    • Value Estimation
      $1,305,000
      5,256 SF

      940 Lakeland Park Ctr Dr

      OFFICE BUILDING • 5,256 SF
      940 Lakeland Park Ctr Dr, Lakeland, FL 33809-3843
      View Details
    • Value Estimation by Request
      2,700 SF

      4728 Us Hwy 98th N

      OFFICE BUILDING • 2,700 SF
      4728 Us Hwy 98th N, Lakeland, FL 33809-3658
      View Details
    • Value Estimation by Request
      1,980 SF

      8251 Tom Costine Rd

      OFFICE BUILDING • 1,980 SF
      8251 Tom Costine Rd, Lakeland, FL 33809-1517
      View Details
    • Value Estimation by Request
      612 SF

      5915 Walt Loop Rd

      OFFICE BUILDING • 612 SF
      5915 Walt Loop Rd, Lakeland, FL 33809-6637
      View Details

    Similar Nearby for Sale

    • $779,000
      3,040 SF

      Lakeland Office Building For Sale

      Single-story office building in SE Lakeland with modern design.
      5473 Us Highway 98 S, Lakeland, FL 33809
      View Details
    • $439,999
      2,432 SF

      Lakeland Office Building - Great Location

      Prime Lakeland Office, High Visibility, Ample Parking
      932 Swann Dr, Lakeland, FL 33809
      View Details
    • $650,000
      1,008 SF

      Lakeland Mixed-Use Development Opportunity

      3.51 Acres, I-4 Proximity, High Visibility
      8105 State Road 33, Lakeland, FL 33809
      View Details
    • $990,000
      Pending

      Lakeland Land Parcel For Sale

      11.29 acre parcel near I-4, suitable for rezoning.
      Old Polk City Rd, Lakeland, FL 33809
      View Details
    • $285,000
      5.95 Acres

      Land on US Highway 98

      5.95 acres of residential land with highway frontage.
      Us Highway 98 N, Lakeland, FL 33809
      View Details
    • $349,900
      Pending

      Prime Corner Land in Lakeland

      2.44 acres of fenced land with high visibility near I-4.
      Old Polk City Rd, Lakeland, FL 33809
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Dental Office in Lakeland Power Center

      Built-out dental office space in a high-visibility Lakeland power center.
      4005-4159 N Us Highway 98, Lakeland, FL 33809
      View Details
    • Contact for pricing
      537,354 SF

      I-4 Logistics Hub: Premier Space

      537,354 SF Industrial Space Available
      8401 Fl-33, Lakeland, FL 33809
      View Details
    • $22 SF/Yr
      5,600 SF

      Publix-Anchored Retail Space Available

      Retail space in Publix-anchored center at high-traffic intersection.
      5147-5239 Us Highway 98 S, Lakeland, FL 33809
      View Details
    • Contact for pricing

      Prime Land on US Hwy

      Exceptional leasing opportunity with high visibility on US Hwy 98.
      3606 Us Hwy. 98 N, Lakeland, FL 33809
      View Details
    • Contact for pricing
      24,394 SF

      Lakeland Retail Center Opportunity

      High-traffic retail space, 20,000 sq ft available
      3715 Hopewell Ave, Lakeland, FL 33809
      View Details
    • Contact for pricing
      85,253 SF

      Liberty Square Center Outparcels

      Lakeland Retail Center - Outparcels Available
      6140 Us Highway 98, Lakeland, FL 33809
      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.
    5115 Socrum Loop Rd
    Lakeland, FL 33809-4288
    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.