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    Lakefront Storage and Redevelopment Land Title is generated by Realmo AI

    802 AVENUE L SW, Winter Haven, FL 33880

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    Claim this Listing
    For Sale
    $725,000

    Direct access to Lake May and existing storage units support flexible development options in a downtown CRA district.

    Type:Multi Family
    Property size:
    1,208 SF
    Price / SF:
    $600/SF
    Added:
    Apr 8, 2025
    Days on Market:
    425
    Last Refresh:
    Jun 6 at 4:31 am

    Property Features for 802 AVENUE L SW

    General Information

    Standard status
    Active
    Size
    1,208 SF
    Property subtype
    Multi Family

    Building Details

    Year Built
    1955

    We can help!

    Listing Contact
    Veronica Bard

    Listing agent Veronica Bard License #3370079

    Listing office LA ROSA REALTY PRESTIGE

    Listing date Apr 8, 2025

    Source Exitrealty

    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 LA ROSA REALTY PRESTIGE

    HighLights

    • Nearly 3 acres of land with direct access to Lake May and views of the lake
    • Now includes 20 storage units
    • 1,208 sq. ft. concrete block structure built in 1955
    • Located within the Winter Haven Downtown CRA District
    • Florida DOR use code 0852 permits duplexes, triplexes, and quadplexes up to 9 units (subject to requirements)
    • Flexibility for potential multi‑family, office/professional, or light industrial projects (subject to approvals)

    Overview

    The property currently includes 20 storage units and nearly 3 acres of land, with direct access to Lake May and views of the Winter Haven Chain of Lakes. A 1,208-square-foot concrete block structure built in 1955 is also on site, providing an additional improved asset for day-to-day operations or future redevelopment planning.

    Situated in the Winter Haven Downtown CRA District, the site benefits from flexibility under its current DOR use code (0852). That code permits duplexes, triplexes, and quadplexes up to 9 units throughout the Polk City, Auburndale, Lake Alfred, and Winter Haven areas. The seller’s remarks also indicate the site’s value is tied to the land, lakefront positioning, and use flexibility for redevelopment concepts that may include multi-family, office/professional, or light industrial uses, subject to approvals.

    For tenants, owners, or developers looking for a site with existing storage income potential alongside redevelopment optionality, the combination of lake access and permitted multi-family configurations can support multiple project directions. The location is also described as convenient to downtown Winter Haven’s shopping, dining, parks, and major roadways, making it practical for a variety of near-term and long-term plans.
    Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Winter Haven
    County
    Polk
    State
    Florida
    Longitude
    -81.713926
    Latitude
    28.0101178

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    FAQs

    What type of property is this?
    Self storage facility - Direct access to Lake May and existing storage units support flexible development options in a downtown CRA district.
    Where is this self storage facility located?
    The property is located at 802 AVENUE L SW Winter Haven, FL.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Nearly 3 acres of land with direct access to Lake May and views of the lake; Now includes 20 storage units; 1,208 sq. ft. concrete block structure built in 1955
    (863) 670-7526
    We can help!
    Listing Contact
    Veronica Bard
    Real Estate License ID: 3370079
    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.

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