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    Property profile & analytics

    5151 Lakeland Dr Lakeland, FL 33813

    • Office buildings
    • 5,090 SF
    • 0.16 lot acres
    For Lease
    View listing
    $19 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3148770
    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

    • ADM Group @ Tribute Realty, LLC / Real Estate Agency
    • Guild Mortgage - Carey Cramer / Loan Service / Bank
    • Essentials Spa of Lakeland / Alternative Medicine Practice / Spa & Massage Center
    • Integrity Environmental Group / Construction Company
    • Concierge Home Care / Home Health Care Service

    Property Details for 5151 Lakeland Dr

    Year built
    2006
    Lot size
    0.16 lot acres
    Property size
    5,090 SF
    Property type
    Office buildings
    APN
    232912140167000050
    APU
    232912140167000050

    Description

    This single-story, 5,000 square foot office building in Lakeland, Florida, offers a fantastic opportunity for businesses seeking a strategic location. Built in 1989, this Class C property features three suites, with one 2,500 square foot suite currently available for lease. The building is situated on a 0.03-acre lot at 5151 S Lakeland Dr, Lakeland, FL 33813, in Polk County (APN: 232912140167000020). Its location near South Florida Avenue, a major thoroughfare with approximately 41,000 cars passing daily, ensures high visibility and accessibility for clients. The property boasts ample parking, including spaces directly in front of the building and in an adjacent lot. The building is suitable for traditional or creative office uses and provides convenient access for businesses seeking minimal foot traffic. Utilities are available. This is an exceptional opportunity to establish or expand your business in a high-traffic area with excellent visibility and ample parking.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,110,000
      6.5%
      $1,025,000
      7%
      $955,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,109,000
      Market price range: $454k - $1.19M
      AI Estimate
      $1,097,000
      Market price range: $367k - $1.35M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $840,000
      Current use
      COMMERCIAL (GENERAL)
      $1,315,000
      Change: +57% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,260,000
      Change: +50% Conversion: Difficult
      MEDICAL BUILDING
      $1,250,000
      Change: +49% Conversion: Easy
      RETAIL STORES
      $945,000
      Change: +13% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $935,000
      Change: +11% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9638
    Latitude
    27.9725
    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
    $13,702
    $193,050
    $645,543
    $838,593
    -
    $193,050
    $645,543
    $838,593

    Comparable in this City

    • Value Estimation
      $1,265,000
      7,000 SF

      180 Fitzgerald Rd

      OFFICE BUILDING • 7,000 SF
      180 Fitzgerald Rd, Lakeland, FL 33813-2711
      View Details
    • Value Estimation by Request
      924 SF

      6700 Florida Ave Ste, Unit 4

      OFFICE BUILDING • 924 SF
      6700 Florida Ave Ste, Lakeland, FL 33813-3310
      View Details
    • Value Estimation by Request
      1,500 SF

      6445 Florida Ave

      OFFICE BUILDING • 1,500 SF
      6445 Florida Ave, Lakeland, FL 33813-3307
      View Details
    • Value Estimation by Request
      220 SF

      Eaglebrooke Blvd

      OFFICE BUILDING • 220 SF
      Eaglebrooke Blvd, Lakeland, FL 33813
      View Details
    • Value Estimation by Request
      924 SF

      6700 Florida Ave Ste, Unit 30

      OFFICE BUILDING • 924 SF
      6700 Florida Ave Ste, Lakeland, FL 33813-3312
      View Details
    • Value Estimation by Request
      924 SF

      6700 Florida Ave Ste, Unit 31

      OFFICE BUILDING • 924 SF
      6700 Florida Ave Ste, Lakeland, FL 33813-3312
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $19 SF/Yr
      5,000 SF

      Lakeland Office Space Available

      Prime Lakeland office, ample parking.
      5151 Lakeland Dr, Lakeland, FL 33813
      View Details
    • $45 SF/Yr
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      S Florida Ave Retail Opportunity

      Brand new, 3,870 SF retail/office building
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      View Details
    • $18 SF/Yr
      5,000 SF

      Lakeland Office Space Available

      Office space for lease in iconic Lakeland building.
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    • $18,600 /Mo

      Lakeland Office Space For Lease

      Office space for lease near Downtown Lakeland.
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      View Details
    • Contact for pricing
      1,620 SF

      South Lakeland Office Space Available

      Office suite for rent in South Lakeland with utilities included.
      4460 Florida National Dr, Lakeland, FL 33813
      View Details
    • $23 SF/Yr
      1,250 SF

      Lakeland Office Suites For Rent

      Office suites available for rent in south Lakeland's Viking Business Park.
      609 Midflorida Dr, Lakeland, FL 33813
      View Details
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    5151 Lakeland Dr
    Lakeland, FL 33813
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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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