Mixed-Use Property with NNN
For Sale
Contact for pricing
1117 Bryn Mawr Avenue, Lake Wales, FL 33853
Five-year lease with annual 3.00% increases supports the existing commercial arrangement.
Property Size984 SF
Price / SF$384.62
Days on Market8
Property Features for 1117 Bryn Mawr Avenue
General Information
Standard status
Active
Size
984 SF
Property subtype
Retail, Office, Mixed Use
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$24,600
Building Details
Year Renovated
2026
Units
1
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Kevin McKenna · License #742093
Source:
Crexi
Added: Aug 11
Changed: Aug 18
Last Checked: Aug 18 at 6:44AM
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 Matthews
Investment Insights
Based on property information with market context.
This mixed-use property at 1117 Bryn Mawr Avenue is offered with an absolute NNN lease. The lease was recently executed for a five-year term and includes annual increases of 3.00%. Property size is listed as 984.
Key Highlights
- Absolute NNN lease structure
- Recently executed 5‑year lease
- 3.00% annual increases
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
$11,081
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
2.93%
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%
$221,620
$221.6K
Cap Rate 7%
$158,300
$158.3K
Cap Rate 9%
$123,122
$123.1K
Market Conditions
NOI Build-Up for 984 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
$19.5K $19.80/SF
− Vacancy
−$1.8K −$1.78/SF
EGI
$17.7K $18.02/SF
− OpEx
−$6.6K −$6.76/SF
NOI
$11.1K $11.26/SF
Area
Polk County, FL
Vacancy
9.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
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%
$221,620
Cap Rate 7%
$158,300
Cap Rate 9%
$123,122
Alternative Uses
Best Use
Mixed Use
$158.3K
$138.5K – $184.7K
NOI $11,081 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$236.5K
$206.9K – $275.9K
NOI $16,552 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
515
Businesses Nearby
Explore this area
Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five-year lease with annual 3.00% increases supports the existing commercial arrangement.
Where is this mixed-use property located?
The property is located at 1117 Bryn Mawr Avenue Lake Wales, FL.
What is the asking price?
The asking price for this property is $378,462.
What are key features of this property?
This property features: Absolute NNN lease structure; Recently executed 5‑year lease; 3.00% annual increases
