Corner Retail Space with
For Sale
$500,000
302 BROADWAY Boulevard SE, Polk City, FL 33868
Commercial Sale, POLK CITY, FL
Property Size3,025 SF
Lot Size0.31 Acres
Price / SF$165.29
Days on Market147
Property Features for 302 BROADWAY Boulevard SE
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-3
Security features
Security System
Appliances
Refrigerator
Subdivision
POLK CITY
Lot features
Corner Lot
Directions
From Commonwealth (33) & Broadway (559) - turn (SOUTH) on Broadway, and property will be on the (RIGHT)
Standard status
Active
APN
25-26-33-296500-074030
Size
3,025 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
POLK CITY PB 24 PG 1 & 1A S28 29 32 33 & 34 T26 R25 BLK 74 LOT 3
Tax Annual Amount
4988
Legal Description
POLK CITY PB 24 PG 1 & 1A S28 29 32 33 & 34 T26 R25 BLK 74 LOT 3
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1989
Flooring type
Tile - Ceramic
Building materials
Vinyl Siding, Frame
Roof type
Shingle
Listing Agency:
CENTURY 21 MYERS REALTY · Century 21 Real Estate
(863) 875-5656
Listed By:
Michael Brenner · License #3069077
(863) 557-3300
Added: Mar 30
Changed: Aug 19
Last Checked: Aug 23 at 1:06AM
MLS# S5146161
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,025-square-foot retail property occupies a 0.31-acre corner site in Polk City. The building was constructed in 1989 and includes a prior restaurant buildout with some kitchen equipment remaining, including a refrigerator. Interior features include ceramic tile flooring, central heating, and central air conditioning. The structure has vinyl siding and frame construction, with a shingle roof.
The property fronts State Road 559 and is identified at 302 Broadway Boulevard SE in Polk City, Florida. Public sewer and electricity are available. Three electric meter boxes are already in place, supporting the property's existing triplex configuration and potential separation into three commercial spaces.
The property fronts State Road 559 and is identified at 302 Broadway Boulevard SE in Polk City, Florida. Public sewer and electricity are available. Three electric meter boxes are already in place, supporting the property's existing triplex configuration and potential separation into three commercial spaces.
Key Highlights
- 3,025 SF retail building on a 0.31‑acre corner site
- Prior restaurant buildout with kitchen equipment and refrigerator remaining
- Three electric meter boxes support the existing triplex configuration
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,329
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$786,580
$786.6K
Cap Rate 7%
$561,843
$561.8K
Cap Rate 9%
$436,989
$437.0K
Market Conditions
NOI Build-Up for 3,025 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$56.3K $18.60/SF
− Vacancy
−$3.8K −$1.26/SF
EGI
$52.4K $17.34/SF
− OpEx
−$13.1K −$4.33/SF
NOI
$39.3K $13.00/SF
Area
Polk County, FL
Vacancy
6.80%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$786,580
Cap Rate 7%
$561,843
Cap Rate 9%
$436,989
Alternative Uses
Best Use
Specialty Retail
$561.8K
$491.6K – $655.5K
NOI $39,329 @ 7.0% cap · market cap 7.87%
Second Best
Retail
$485.3K
$424.6K – $566.2K
NOI $33,971 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$726.9K
$636.1K – $848.1K
NOI $50,885 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
31k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Home Improvements & Furnishings 15%
Dining 15%
Circle K
Shops & Services
15,576 visits/mo
0.3 miles
Polk City Ace Hardware
Home Improvements & Furnishings
4,849 visits/mo
0.2 miles
O'Reilly Auto Parts
Shops & Services
3,502 visits/mo
0.2 miles
Hungry Howie's Pizza
Dining
3,056 visits/mo
0.2 miles
Texaco Station
Shops & Services
1,905 visits/mo
0.5 miles
Demographics for 33868, FL
12,906
Population
5,197
Households
2.5
Avg Household Size
43
Median Age
18%
College-Educated
86%
High-School Grad
182.5 sq mi
ZIP Area
71
Density / Sq Mi
$74,048
Median Household Income
$40,658
Median Earnings
$1,092
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding retail property with restaurant improvements, central HVAC, ceramic tile flooring, and available kitchen equipment.
Where is this retail space located?
The property is located at 302 BROADWAY Boulevard SE Polk City, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,025 SF retail building on a 0.31‑acre corner site; Prior restaurant buildout with kitchen equipment and refrigerator remaining; Three electric meter boxes support the existing triplex configuration
