Live-Work Creative Office
For Sale
$275,000
208 CENTER St, Auburndale, FL 33823
General Commercial live-work configuration with a reception-ready vaulted room, equipped kitchen, and updated finishes plus private rear access.
Property Size1,476 SF
Days on Market81
Property Features for 208 CENTER St
General Information
Standard status
Active
Size
1,476 SF
Property subtype
Commercial
Zoning
General Commercial
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$1,748
Building Details
Building Size
1,476 SF
Year Built
1940
Stories
1
Listing Agency:
CENTURY 21 Myers Realty
(786) 897-4081
Listed By:
Carla Miro · License #3305389
(786) 897-4081
Source:
Elliman
Added: Jun 3
Changed: Aug 12
Last Checked: Aug 22 at 9:41AM
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.
208 Center St. is a versatile live-work style commercial space under General Commercial zoning. Inside, you enter a spacious room with a vaulted ceiling and an impressive fireplace, well suited for a welcoming waiting or reception area. The property also includes a large, fully equipped kitchen with updated appliances and ample cabinetry. Additional secondary rooms can function as private offices, meeting space, or treatment rooms, while the generous primary bedroom features an ensuite bathroom and an oversized closet for flexible everyday use.
The building is located in Auburndale’s downtown and is described as being conveniently halfway between Tampa and Orlando. Access includes a vinyl privacy fence with solar lighting and a double gate that provides easy access to the backside of the property.
Recent updates support both comfort and day-to-day usability for an owner-operator or small business. Improvements include a recently replaced HVAC system, new flooring throughout with durable luxury vinyl plank flooring and plush carpeting, remodeled bathrooms, and a reconstructed chimney complemented by a 60" electric fireplace. The layout and amenities provide a practical fit for those looking to combine a functional work setup with a live-in component in one location.
The building is located in Auburndale’s downtown and is described as being conveniently halfway between Tampa and Orlando. Access includes a vinyl privacy fence with solar lighting and a double gate that provides easy access to the backside of the property.
Recent updates support both comfort and day-to-day usability for an owner-operator or small business. Improvements include a recently replaced HVAC system, new flooring throughout with durable luxury vinyl plank flooring and plush carpeting, remodeled bathrooms, and a reconstructed chimney complemented by a 60" electric fireplace. The layout and amenities provide a practical fit for those looking to combine a functional work setup with a live-in component in one location.
Key Highlights
- Zoned General Commercial with a live‑work layout option, including a primary bedroom with ensuite bath and oversized closet
- Reception‑ready main room with vaulted ceiling and fireplace
- Large fully equipped kitchen with updated appliances and ample cabinetry
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
$18,133
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
6.59%
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%
$362,660
$362.7K
Cap Rate 7%
$259,043
$259.0K
Cap Rate 9%
$201,478
$201.5K
Market Conditions
NOI Build-Up for 1,476 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
$31.0K $21.00/SF
− Vacancy
−$6.8K −$4.62/SF
EGI
$24.2K $16.38/SF
− OpEx
−$6.0K −$4.10/SF
NOI
$18.1K $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%
$362,660
Cap Rate 7%
$259,043
Cap Rate 9%
$201,478
Alternative Uses
Best Use
Office B
$259.0K
$226.7K – $302.2K
NOI $18,133 @ 7.0% cap · market cap 6.59%
Second Best
Mixed Use
$237.5K
$207.8K – $277.0K
NOI $16,622 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$354.7K
$310.4K – $413.8K
NOI $24,829 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
801
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
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Frequently Asked Questions
What type of property is this?
Live-work space - General Commercial live-work configuration with a reception-ready vaulted room, equipped kitchen, and updated finishes plus private rear access.
Where is this live-work space located?
The property is located at 208 CENTER St Auburndale, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Zoned General Commercial with a live‑work layout option, including a primary bedroom with ensuite bath and oversized closet; Reception‑ready main room with vaulted ceiling and fireplace; Large fully equipped kitchen with updated appliances and ample cabinetry
