Two-Building Office
For Sale
$399,000
737 W CENTRAL Avenue, Winter Haven, FL 33880
SINGLE_FAMILY - WINTER HAVEN, FL
Property Size2,510 SF
Lot Size0.22 Acres
Price / SF$158.96
Days on Market441
Property Features for 737 W CENTRAL Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning
RP
Subdivision
LAKE ADD
Directions
From US17 (6th Street NW) turn westerly onto W Central Avenue, continue to address 737
Standard status
Active
APN
26-28-29-632000-003120
Size
2,510 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LAKE ADD DB Q PG 529 BLK 3 LOTS 12 E1/2 & 13
Tax Annual Amount
2116
Legal Description
LAKE ADD DB Q PG 529 BLK 3 LOTS 12 E1/2 & 13
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1915
Building materials
Stone, Stucco, Wood Siding
Listing Agency:
LOCKHART & ASSOCIATES INC
(863) 293-1234
Listed By:
Steve Lockhart · License #377455
(863) 289-9801
Added: May 30, 2025
Changed: Jul 22
Last Checked: Aug 13 at 2:06AM
MLS# P4935050
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 offering includes two redesigned and remodeled office buildings created by a local architect. The front building is known as 737 W Central Avenue, and the rear building is known as 739 W Central Avenue.
The buildings are positioned close to downtown, shopping, and retail centers, supporting convenient day-to-day access for office tenants and visitors. The property is zoned RP.
With a combined size of 2,510 square feet, this is a compact office configuration presented as two distinct buildings on a single site.
The buildings are positioned close to downtown, shopping, and retail centers, supporting convenient day-to-day access for office tenants and visitors. The property is zoned RP.
With a combined size of 2,510 square feet, this is a compact office configuration presented as two distinct buildings on a single site.
Key Highlights
- Two redesigned and remodeled office buildings designed by a local architect: 737 W Central Avenue and 739 W Central Avenue
- Built in 1915
- Central heating and central air conditioning
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
$30,835
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
7.73%
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%
$616,700
$616.7K
Cap Rate 7%
$440,500
$440.5K
Cap Rate 9%
$342,611
$342.6K
Market Conditions
NOI Build-Up for 2,510 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
$52.7K $21.00/SF
− Vacancy
−$11.6K −$4.62/SF
EGI
$41.1K $16.38/SF
− OpEx
−$10.3K −$4.10/SF
NOI
$30.8K $12.29/SF
Area
Polk County, FL
Vacancy
22.00%
Lease Rate
$21.00 /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%
$616,700
Cap Rate 7%
$440,500
Cap Rate 9%
$342,611
Alternative Uses
Best Use
Office B
$440.5K
$385.4K – $513.9K
NOI $30,835 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$603.2K
$527.8K – $703.7K
NOI $42,222 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,710
Businesses Nearby
Explore this area
Business Placement
Demographics for 33880, FL
42,005
Population
17,055
Households
2.5
Avg Household Size
38
Median Age
17%
College-Educated
84%
High-School Grad
32.4 sq mi
ZIP Area
1,296
Density / Sq Mi
$56,803
Median Household Income
$35,051
Median Earnings
$1,128
Median Rent
$200,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two redesigned office buildings totaling 2,510 SF, located near downtown shopping and retail centers.
Where is this office building located?
The property is located at 737 W CENTRAL Avenue Winter Haven, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two redesigned and remodeled office buildings designed by a local architect: 737 W Central Avenue and 739 W Central Avenue; Built in 1915; Central heating and central air conditioning
