Updated Medical District Office
For Sale
$200,000
104 AVENUE K, Winter Haven, FL 33881
Updated concrete block building with flexible commercial or residential layout, private rooms, and a renovated full bath.
Property Size1,190 SF
Price / SF$168.07
Days on Market377
Property Features for 104 AVENUE K
General Information
Standard status
Active
Size
1,190 SF
Property subtype
Mixed Use
Zoning
MX
Site & Location
Road Access
Yes
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$1,783
Amenities
Central Air
3
71x85
City Road, Asphalt, Paved Road.
Building Details
Year Built
1946
Listing Agency:
LPT REALTY
(877) 366-2213
Listed By:
April Spaulding · License #3385437
Source:
Xome
Added: Jul 30, 2025
Changed: Aug 7
Last Checked: Aug 9 at 5:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LPT REALTY
Investment Insights
Based on property information with market context.
An updated concrete block property in the city’s Medical District provides flexible space for a professional office, medical suite, or live-work use. The interior features a light and bright layout with fresh paint and luxury vinyl plank flooring. A spacious front room can support reception or conference use, while an adjacent formal dining area can function as a second office or meeting space. Additional rooms with ceiling fans and windows provide options for private offices, treatment rooms, or bedrooms if used residentially. The kitchen is updated with granite countertops, white cabinetry, open shelving, and stainless steel appliances, and the full bathroom has been completely renovated.
Toward the back, an enclosed Florida room offers additional flex space. Exterior amenities include a fully fenced backyard with paver patio and shaded sitting areas, plus a detached block shed used for laundry and storage.
Recent improvements include a new roof (2023), updated electrical panel and wiring (2023), new PVC plumbing (2025), and a brand-new tankless Rheem water heater (2025). The property is zoned MX (Mixed Use) and is located on a corner lot with parking space and potential reconfiguration for commercial needs.
Toward the back, an enclosed Florida room offers additional flex space. Exterior amenities include a fully fenced backyard with paver patio and shaded sitting areas, plus a detached block shed used for laundry and storage.
Recent improvements include a new roof (2023), updated electrical panel and wiring (2023), new PVC plumbing (2025), and a brand-new tankless Rheem water heater (2025). The property is zoned MX (Mixed Use) and is located on a corner lot with parking space and potential reconfiguration for commercial needs.
Key Highlights
- Zoned MX (Mixed Use) concrete block building with flexible commercial, residential, or combined‑use options
- Approximately 1,191 SF updated interior with a light‑and‑bright layout plus multiple private rooms/offices
- Renovated full bathroom with updated tile and new vanity
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
$14,953
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
7.48%
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%
$299,060
$299.1K
Cap Rate 7%
$213,614
$213.6K
Cap Rate 9%
$166,144
$166.1K
Market Conditions
NOI Build-Up for 1,190 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
$27.8K $23.40/SF
− Vacancy
−$2.9K −$2.46/SF
EGI
$24.9K $20.94/SF
− OpEx
−$10.0K −$8.38/SF
NOI
$15.0K $12.57/SF
Area
Polk County, FL
Vacancy
10.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
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%
$299,060
Cap Rate 7%
$213,614
Cap Rate 9%
$166,144
Alternative Uses
Best Use
Healthcare Medical
$213.6K
$186.9K – $249.2K
NOI $14,953 @ 7.0% cap · market cap 7.48%
Second Best
Office B
$208.8K
$182.7K – $243.7K
NOI $14,619 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$286.0K
$250.2K – $333.6K
NOI $20,018 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,080
Businesses Nearby
Explore this area
Business Placement
Demographics for 33881, FL
38,369
Population
17,948
Households
2.1
Avg Household Size
44
Median Age
18%
College-Educated
85%
High-School Grad
21.9 sq mi
ZIP Area
1,752
Density / Sq Mi
$53,867
Median Household Income
$33,941
Median Earnings
$1,153
Median Rent
$177,400
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?
Live-work space - Updated concrete block building with flexible commercial or residential layout, private rooms, and a renovated full bath.
Where is this live-work space located?
The property is located at 104 AVENUE K Winter Haven, FL.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Zoned MX (Mixed Use) concrete block building with flexible commercial, residential, or combined‑use options; Approximately 1,191 SF updated interior with a light‑and‑bright layout plus multiple private rooms/offices; Renovated full bathroom with updated tile and new vanity
