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    740 Alfred E St Lake Alfred, FL 33850-2314

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    Property profile & analytics

    740 Alfred E St Lake Alfred, FL 33850-2314

    View on Map
    • Commercial real estate
    • 14,444 SF
    • 2.19 lot acres
    Off-Market
    Last Sale Oct 2, 2024
    $1,500,000
    Property ID
    US18-5166244
    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.
    Value Estimations
    $1,380,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 740 Alfred E St

    Year built
    1978
    Lot size
    2.19 lot acres
    Property size
    14,444 SF
    Zone code
    C-1
    Property type
    Commercial real estate
    APN
    262733000000031100
    APU
    262733000000031100

    Description

    This exceptional 2.19-acre commercial property, located at 740 Alfred Street E in Lake Alfred, Florida (zip code 33850), presents a compelling investment opportunity. Situated conveniently to the west of Lake Alfred on US 17/92 in Polk County, this site is ideally suited for light manufacturing businesses. The property boasts a substantial 14,444 square feet of land, providing ample space for operations and future expansion. Its zoning designation specifically permits light manufacturing, offering significant flexibility for a variety of industrial uses. The strategic location within a thriving industrial hub ensures excellent access to transportation networks and a skilled workforce. This property represents a rare chance to acquire a well-positioned, sizable parcel of land in a desirable area, perfect for businesses seeking to establish a strong presence or expand their existing operations. The asking price for this prime commercial real estate is $1,980,000. Don't miss this opportunity to secure a valuable asset in a dynamic market. This property offers a unique blend of location, size, and zoning flexibility, making it an ideal choice for discerning investors and businesses alike. The address is easily accessible via US 17/92, providing convenient access to major transportation routes. This is a turnkey opportunity for immediate development and operational success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,419,000
      Market price range: $1.14M - $9.50M
      AI Estimate
      $888,000
      Market price range: $889k - $4.41M

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Alfred
    County
    Polk
    State
    Florida
    Longitude
    -81.7173
    Latitude
    28.0969
    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
    $4,264
    $47,299
    $171,188
    $218,487
    -
    $47,299
    $171,188
    $218,487

    Comparable in this City

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      COMMERCIAL (GENERAL) • 0.22 Acres
      310 Lk George Rd, Lake Alfred, FL 33850-3422
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      $3,010,000
      1,728 SF

      455 Dakota Ave

      COMMERCIAL (GENERAL) • 1,728 SF
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      5115 Hwy 557

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      4,500 SF

      335 Buena Vis Dr

      COMMERCIAL (GENERAL) • 4,500 SF
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      1.35 Acres

      92 Hwy

      Land • 1.35 Acres
      92 Hwy, Lake Alfred, FL 33850
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    Similar Nearby for Sale

    • $2,000,000

      Prime Development Land For Sale

      3.5 acre corner site in rapidly growing Lake Alfred.
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    • $130,000
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      Lake Alfred Waterfront Vacant Lot

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      305 Acres Development Opportunity, Florida

      305 acres of land near Orlando and Disney World.
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    • Contact for pricing

      Prime Development Land in Lake Alfred

      3.5 acre corner lot ready for development in Lake Alfred.
      Glencruiten Ave N, Lake Alfred, FL 33850
      View Details

    Similar Nearby for Lease

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      6,129 SF

      Retail Space in Lake Alfred

      Retail space available in Lake Alfred, Florida.
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    • Contact for pricing

      New 7-Eleven NNN Lease

      New 15-year corporate NNN lease with rental increases.
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    740 Alfred E St
    Lake Alfred, FL 33850-2314
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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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