Retail Redevelopment
For Sale
$1,100,000
104 Us Highway 27 S, Avon Park, FL 33825
Multi-building retail property with an on-site apartment and an income-producing space currently rented by Bingo Parlor.
Property Size9,743 SF
Price / SF$112.90
Days on Market81
Property Features for 104 Us Highway 27 S
General Information
Standard status
Active
Size
9,743 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Business Included
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$7,690
Listing Agency:
ADVANTAGE REALTY 1
(863) 386-1111
Listed By:
Steve Smith · License #3629146
(865) 803-3045
Source:
Exprealty
Added: Jun 16
Changed: Aug 28
Last Checked: Sep 2 at 2:02AM
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 ADVANTAGE REALTY 1
Investment Insights
Based on property information with market context.
This value-add retail property includes 5,670 square feet of retail space along with a secondary 3,198 square foot building that is currently rented by Bingo Parlor. The offering also includes an 875 square foot rental apartment on site. The property is presented as a self-storage redevelopment opportunity, with immediate income supported by the current rental arrangement.
The site includes Prime U.S. Highway 27 S frontage, providing direct commercial exposure along the highway. Call the listing agent to arrange a viewing.
The site includes Prime U.S. Highway 27 S frontage, providing direct commercial exposure along the highway. Call the listing agent to arrange a viewing.
Key Highlights
- Value‑add retail plus self‑storage redevelopment opportunity with prime US 27 frontage
- 5670 sq ft retail space
- Secondary 3198 sq ft building currently rented by Bingo Parlor
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
$91,560
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
8.32%
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%
$1,831,200
$1.8M
Cap Rate 7%
$1,308,000
$1.3M
Cap Rate 9%
$1,017,333
$1.0M
Market Conditions
NOI Build-Up for 9,743 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
$146.1K $15.00/SF
− Vacancy
−$15.3K −$1.58/SF
EGI
$130.8K $13.43/SF
− OpEx
−$39.2K −$4.03/SF
NOI
$91.6K $9.40/SF
Area
Highlands County, FL
Vacancy
10.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,831,200
Cap Rate 7%
$1,308,000
Cap Rate 9%
$1,017,333
Alternative Uses
Best Use
Retail
$1.31M
$1.14M – $1.53M
NOI $91,560 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.77M – $2.36M
NOI $141,889 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
143k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 21%
Home Improvements & Furnishings 3%
Electronics 1%
McDonald's
Dining
29,804 visits/mo
0.1 miles
Wendy's
Dining
13,229 visits/mo
0.2 miles
Dunkin' Donuts
Dining
13,199 visits/mo
0.2 miles
Burger King
Dining
11,927 visits/mo
0.2 miles
Checkers
Dining
11,827 visits/mo
0.2 miles
Demographics for 33825, FL
24,943
Population
12,519
Households
2
Avg Household Size
49
Median Age
13%
College-Educated
83%
High-School Grad
112.8 sq mi
ZIP Area
221
Density / Sq Mi
$46,604
Median Household Income
$32,352
Median Earnings
$902
Median Rent
$152,400
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 - Multi-building retail property with an on-site apartment and an income-producing space currently rented by Bingo Parlor.
Where is this retail space located?
The property is located at 104 Us Highway 27 S Avon Park, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Value‑add retail plus self‑storage redevelopment opportunity with prime US 27 frontage; 5670 sq ft retail space; Secondary 3198 sq ft building currently rented by Bingo Parlor
