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    Property profile & analytics

    5950 Florida Ave Lakeland, FL 33813-2532

    • Medical offices
    • 8,460 SF
    • 1.26 lot acres
    OFF-MARKET
    Last Sale
    Feb 24, 2020
    $1,425,000
    Value Estimations
    $1,725,000
    Show details
    Cap Rate Potential
    6.4%
    Medical offices
    Location Intelligence
    Property ID
    US18-2903124
    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

    • Sairah Chachad, MD / Pediatrician
    • Cynthia Wallace / Pediatrician / Health Care Facility
    • Sairah Y Snow / Pediatrician
    • Cara Cannon / Pediatrician / Practitioner Service Location
    • Lisa Dinh / Pediatrician / Practitioner Service Location

    Property Details for 5950 Florida Ave

    Year built
    1999
    Lot size
    1.26 lot acres
    Property size
    8,460 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    232913000000032010
    APU
    232913000000032010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,670,000
      ML approach
      $1,615,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,770,000
      6.5%
      $1,635,000
      7%
      $1,520,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,165,000
      Market price range: $1.56M - $3.46M
      AI Estimate
      $1,028,000
      Market price range: $611k - $1.42M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $2,080,000
      Current use
      COMMERCIAL (GENERAL)
      $2,185,000
      Change: +5% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,095,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.9659
    Latitude
    27.9602
    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
    $17,284
    $423,522
    $845,612
    $1,269,134
    -
    $423,522
    $845,612
    $1,269,134

    Comparable in this City

    • Value Estimation
      $545,000
      13,176 SF

      5985 Florida Ave

      MEDICAL BUILDING • 13,176 SF
      5985 Florida Ave, Lakeland, FL 33813-2533
      View Details
    • Value Estimation
      $330,000
      5,106 SF

      5058 Florida Ave

      MEDICAL BUILDING • 5,106 SF
      5058 Florida Ave, Lakeland, FL 33813-2510
      View Details
    • Value Estimation
      $300,000
      1,666 SF

      4335 Highland Park Blvd

      MEDICAL BUILDING • 1,666 SF
      4335 Highland Park Blvd, Lakeland, FL 33813-1627
      View Details
    • Value Estimation
      $295,000
      1,324 SF

      3842 Florida Ave

      MEDICAL BUILDING • 1,324 SF
      3842 Florida Ave, Lakeland, FL 33813-1105
      View Details
    • Value Estimation
      $360,000
      1,891 SF

      3740 Cleveland Hts Blvd

      MEDICAL BUILDING • 1,891 SF
      3740 Cleveland Hts Blvd, Lakeland, FL 33813-1215
      View Details
    • Value Estimation
      $335,000
      2,967 SF

      315 Doris Dr

      MEDICAL BUILDING • 2,967 SF
      315 Doris Dr, Lakeland, FL 33813-1008
      View Details

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    • $2,300,000

      South Lakeland Commercial Development Opportunity

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      3.22 acres of LCC zoned land with high traffic.
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    • $259,000
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    Similar Nearby for Lease

    • $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
    • $1,600 /Mo
      1,000 SF

      Remodeled Office Space in Lakeland

      Remodeled office space with reception, storage, and restroom.
      4250 S Florida Ave, Lakeland, FL 33813
      View Details
    • $2,400 /Mo
      Pending

      Lakeland Office Building For Lease

      Traditional office building in prime location near Polk Parkway.
      4202 SOUTH Florida Ave, Lakeland, FL 33813
      View Details
    • $675 /Mo
      132 SF

      Turn-Key Executive Office Space

      Class A office space with utilities and high-speed internet included.
      624 Midflorida Dr, Lakeland, FL 33813
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    • $650 /Mo
      2,527 SF

      Private Office Suite in Lakeland

      Serene office suite with private entrance, ideal for professionals.
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      View Details
    • $19,200 /Mo

      Remodeled Office Space Available

      Recently remodeled office space featuring three offices and reception area.
      4250 S Florida Ave, Lakeland, FL 33813
      View Details
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    5950 Florida Ave
    Lakeland, FL 33813-2532
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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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