Versatile Office Space in Balmoral
For Sale
Contact for pricing
116 Kenny Blvd, Haines City, FL 33844
Two-story, 3,703 SF office space in Haines City, Florida.
Property Size12,063 SF
Lot Size0.28 Acres
Price / SF$207.25
Days on Market189
Property Features for 116 Kenny Blvd
General Information
Standard status
Active
Size
12,063 SF
Lot size
0.28 Acres
Property subtype
Retail
Zoning
MUPUD (Mixed Use Residential)
Building Details
Year Built
2020
Buildings
1
Listing Agency:
Saunders Real Estate
(863) 272-7156
Listed By:
Danielle Brown · License #FL 3520482
Source:
Crexi
Added: Feb 4
Changed: Aug 8
Last Checked: Aug 8 at 6:38AM
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 Saunders Real Estate
Investment Insights
Based on property information with market context.
Located in Balmoral Resort in Haines City, Florida, this custom-built two-story building offers 3,703 ± SF of versatile office space suitable for medical, event, or general office use. Situated just east of Highway 27, the property benefits from its location in a rapidly expanding area. The upstairs features an open floor plan that is move-in ready and can be divided into smaller suites. The layout includes a reception area, conference room, break room, electrical closet, and two restrooms. New owners will have access to the event center’s backyard space, suitable for hosting outdoor events or generating additional revenue. The property’s connection to the Balmoral Resort provides a built-in clientele base. This property combines a strategic location and modern amenities. The property size is 12,063 square feet.
Key Highlights
- Prime location in the rapidly expanding Balmoral Resort area of Haines City, just east of Highway 27.
- Versatile 3,703 ± SF of office space suitable for medical, event, or general office use.
- Built‑in clientele base due to its connection to the Balmoral Resort.
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
$148,194
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
5.93%
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%
$2,963,880
$3.0M
Cap Rate 7%
$2,117,057
$2.1M
Cap Rate 9%
$1,646,600
$1.6M
Market Conditions
NOI Build-Up for 12,063 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
$253.3K $21.00/SF
− Vacancy
−$55.7K −$4.62/SF
EGI
$197.6K $16.38/SF
− OpEx
−$49.4K −$4.10/SF
NOI
$148.2K $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%
$2,963,880
Cap Rate 7%
$2,117,057
Cap Rate 9%
$1,646,600
Alternative Uses
Best Use
Office B
$2.12M
$1.85M – $2.47M
NOI $148,194 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $202,919 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 33844, FL
43,329
Population
22,018
Households
2
Avg Household Size
40
Median Age
17%
College-Educated
84%
High-School Grad
97.2 sq mi
ZIP Area
446
Density / Sq Mi
$60,426
Median Household Income
$36,281
Median Earnings
$1,158
Median Rent
$212,700
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 units - Two-story, 3,703 SF office space in Haines City, Florida.
Where is this office units located?
The property is located at 116 Kenny Blvd Haines City, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime location in the rapidly expanding Balmoral Resort area of Haines City, just east of Highway 27.; Versatile 3,703 ± SF of office space suitable for medical, event, or general office use.; Built‑in clientele base due to its connection to the Balmoral Resort.
