506 COMMONWEALTH AVENUE SW, Polk City, FL 33868
- Added:
- Mar 12, 2026
- Days on Market:
- 90
- Last Refresh:
- Jun 9 at 1:06 pm
Property Features for 506 COMMONWEALTH AVENUE SW
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- C-1
- Standard status
- Pending
- APN
- 25-26-32-295500-002050
- Size
- 1,524 SF
- Lot size
- 0.39 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2860
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1940
- Building materials
- Frame, Vinyl Siding
- Roof type
- Metal
- Architectural style
- Other
Listing agent Carri McLure License #3451799 (863) 594-4041
Listing office LPT REALTY, LLC 1400 South International Parkw, Lake Mary, FL (877) 366-2213
Listing date Mar 12, 2026
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.
HighLights
- Prime corner lot location with 200 feet of highway frontage on State Road 33, offering high visibility and traffic.
- Versatile commercial space suitable for retail, office, or cafe use.
- Unique historical building, the only one in the area, providing a distinctive destination appeal.
- Durable metal roof installed in 2014.
- Equipped with Central A/C for year‑round climate control.
- Consistent termite bond.
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.3k | $18.60 |
| − Vacancy | −$1.9k | −$1.26 |
| EGI | $26.4k | $17.34 |
| − OpEx | −$6.6k | −$4.33 |
| NOI | $19.8k | $13.00 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Polk City
- County
- Polk
- State
- Florida
- Longitude
- -81.82971
- Latitude
- 28.179507
