Multi-Tenant Commercial
For Sale
Contact for pricing
119 MAIN ST S, Auburndale, FL 33823
Two-building, four-suite setup supports a mix of office, retail, medical, and service uses with independent functionality for tenants.
Property Size5,186 SF
Price / SF$192.83
Days on Market51
Property Features for 119 MAIN ST S
General Information
Standard status
Active
Size
5,186 SF
Property subtype
Retail, Office, Mixed Use
Lease Type
Gross
Investment Type
Stabilized
Additional Details
Office Units
4
Building Details
Year Built
1930
Buildings
2
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Century 21 Myers Realty
(407) 463-6952
Listed By:
Tony Acosta · License #FL SL3589261
Source:
Crexi
Added: Jun 23
Changed: Aug 8
Last Checked: Aug 11 at 3:02PM
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 Century 21 Myers Realty
Investment Insights
Based on property information with market context.
This for-sale multi-tenant commercial building consists of two separate structures containing four individual commercial suites. The front building is laid out for customer-facing and professional uses, with multiple reception areas, private offices, treatment rooms, restrooms, and flexible workspace configurations. The rear building adds additional commercial space that can accommodate a range of operations, including office, retail, workshop, production, storage, or service-related activity.
Located in historic downtown Auburndale on a highly visible downtown corridor, the property offers street presence and storefront exposure along with pedestrian accessibility. Convenient parking supports day-to-day customer and employee traffic.
Each suite is designed to function independently, giving owners and tenants flexibility to lease multiple units to separate occupants or combine occupancy with rental income. With space that fits both front-office and back-area operational needs, the property can work for businesses looking to establish themselves downtown while maintaining the option to share the buildings with other users. The combination of suite-level independence, varied interior room types, and flexible rear-building uses can help support a practical mix of office, retail, medical, and light production uses within one property.
Located in historic downtown Auburndale on a highly visible downtown corridor, the property offers street presence and storefront exposure along with pedestrian accessibility. Convenient parking supports day-to-day customer and employee traffic.
Each suite is designed to function independently, giving owners and tenants flexibility to lease multiple units to separate occupants or combine occupancy with rental income. With space that fits both front-office and back-area operational needs, the property can work for businesses looking to establish themselves downtown while maintaining the option to share the buildings with other users. The combination of suite-level independence, varied interior room types, and flexible rear-building uses can help support a practical mix of office, retail, medical, and light production uses within one property.
Key Highlights
- 1930‑built, two‑building commercial property with four separate commercial suites in downtown Auburndale
- Suites feature independent functionality, supporting multiple tenants or a mix of owner occupancy and rental income
- Front building includes multiple reception areas, private offices, treatment rooms, restrooms, and flexible workspace
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
$65,166
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
6.52%
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%
$1,303,320
$1.3M
Cap Rate 7%
$930,943
$930.9K
Cap Rate 9%
$724,067
$724.1K
Market Conditions
NOI Build-Up for 5,186 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
$121.4K $23.40/SF
− Vacancy
−$12.7K −$2.46/SF
EGI
$108.6K $20.94/SF
− OpEx
−$43.4K −$8.38/SF
NOI
$65.2K $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%
$1,303,320
Cap Rate 7%
$930,943
Cap Rate 9%
$724,067
Alternative Uses
Best Use
Healthcare Medical
$930.9K
$814.6K – $1.09M
NOI $65,166 @ 7.0% cap · market cap 6.52%
Second Best
Office B
$910.1K
$796.4K – $1.06M
NOI $63,710 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,237 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 33823, FL
33,733
Population
15,383
Households
2.2
Avg Household Size
42
Median Age
17%
College-Educated
86%
High-School Grad
34.9 sq mi
ZIP Area
967
Density / Sq Mi
$64,248
Median Household Income
$39,187
Median Earnings
$1,068
Median Rent
$234,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Two-building, four-suite setup supports a mix of office, retail, medical, and service uses with independent functionality for tenants.
Where is this office units located?
The property is located at 119 MAIN ST S Auburndale, FL.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 1930‑built, two‑building commercial property with four separate commercial suites in downtown Auburndale; Suites feature independent functionality, supporting multiple tenants or a mix of owner occupancy and rental income; Front building includes multiple reception areas, private offices, treatment rooms, restrooms, and flexible workspace
