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    109 N 3RD St Eagle Lake, FL 33839

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    For Sale
    $625,000

    Commercial property in Eagle Lake with redevelopment potential.

    Type:Commercial
    Property size:
    5,349 SF
    Added:
    Apr 24, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 24 at 8:21 pm

    Property Features for 109 N 3RD St

    General Information

    Standard status
    Active
    Size
    5,349 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    David Reyes
    David Reyes

    Listing agent David Reyes License #SL679127,FLORIDA

    Listing office KW Commercial | The Reyes Group

    Listing date Apr 24, 2026

    Source Elliman

    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 KW Commercial | The Reyes Group

    Overview

    Eagle Lake Commercial Property

    This commercial property, located in the heart of Polk County within the growing town of Eagle Lake, offers approximately 5,349 square feet of space. The site features a 2,300-square-foot air-conditioned retail building, which is partially owner-occupied and partially leased to a tenant through April 2026, along with an approximately 280-square-foot storage shed. At the rear of the property is a 2,769-square-foot non-air-conditioned structure with a gravel floor, currently leased on a month-to-month basis to a sports/baseball training facility. Situated just one street off State Road 17, and separated only by a railroad, the property benefits from strong visibility and exposure, with the potential for prominent signage subject to approvals. State Road 17 carries an average daily traffic count of approximately 14,500 vehicles. The property is zoned General Commercial, allowing for a wide range of potential uses in accordance with the town’s land use table and conditional approval requirements. This offering is well suited for an investor seeking redevelopment potential or an owner-user desiring a highly visible, centrally located, and easily accessible commercial site.
    Location Intelligence

    Current Use by Public Records

    Aim High Screen ... Textile Manufacturer The Wizard Baseball Program Training Center

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Accounting Firm Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eagle Lake
    County
    Polk
    State
    Florida
    Longitude
    -81.7570357
    Latitude
    27.9805928

    Nearby Similar for Sale

    • $625,000
      5,349 SF

      Eagle Lake Commercial Property For Sale

      Commercial property in Eagle Lake with redevelopment potential.
      109 North 3rd Street, Eagle Lake, FL 33839
      View Details
    • Contact for pricing
      850 SF

      Eagle Lake Office Space Available

      850 SF office space with reception and private offices.
      1625 N US Hwy 17, Eagle Lake, FL 33839
      View Details
    • $10,329,000
      4,853 SF

      7-Eleven on Highway 17

      Prime location 7-Eleven with high traffic volume.
      600 E 5th Ave, Eagle Lake, FL 33839
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial property in Eagle Lake with redevelopment potential.
    Where is this retail space located?
    The property is located at 109 N 3RD St Eagle Lake, FL.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: High‑visibility location one street off State Road 17 with 14,500 average daily traffic.; ±5,349 SF commercial property in the growing town of Eagle Lake.; Zoned General Commercial, allowing for a wide range of potential uses.
    (863) 206-8278
    We can help!
    Listing Contact
    David Reyes
    David Reyes
    Real Estate License ID: SL679127,FLORIDA
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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