Dual-Tenant Retail
For Sale
$1,100,000
316 Havendale Blvd, Auburndale, FL 33823
Retail property occupied by a Domino's Pizza location and an established local bar with separate operating concepts.
Property Size5,900 SF
Price / SF$186.44
Days on Market17
Property Features for 316 Havendale Blvd
General Information
Standard status
Active
Size
5,900 SF
Property subtype
Restaurant
Lease Type
Modified Gross
Amenities
Two-tenant income stream that isn't dependent on a single operator — a national QSR brand paired with an independently owned bar with 16 years of continuous operation in the same location.
The property sits directly across from an established retail plaza anchored by Harbor Freight, Winn-Dixie, and O'Reilly Auto Parts, benefiting from consistent, pre-existing consumer traffic.
The property fronts Havendale Boulevard, a corridor carrying approximately 30,000 vehicles per day.
Building Details
Building Size
5,900 SF
Tenancy
Multi
Listing Agency:
Marcus & Millichap
Listed By:
Kevin Cagliergin · License #License(s): FL: SL3551018
(813) 387-4733
Source:
Marcusmillichap
Added: Sep 11
Changed: Sep 25
Last Checked: Sep 26 at 3:27AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
Located at 316 Havendale Boulevard in Auburndale, Florida, this retail property is configured for two occupants with complementary food-and-beverage uses. The spaces are occupied by Domino's Pizza and Brew Hounds, a local bar that began operating in 2009.
The Domino's tenancy supports delivery and carryout operations, while the adjacent bar offers live sports programming and community events. The leases provide different operating characteristics: the Domino's arrangement is designed for reduced day-to-day ownership involvement, and the Brew Hounds lease includes annual rent increases through the balance of its term. Together, the two occupied spaces provide a diversified tenant profile within one retail asset.
The Domino's tenancy supports delivery and carryout operations, while the adjacent bar offers live sports programming and community events. The leases provide different operating characteristics: the Domino's arrangement is designed for reduced day-to-day ownership involvement, and the Brew Hounds lease includes annual rent increases through the balance of its term. Together, the two occupied spaces provide a diversified tenant profile within one retail asset.
Key Highlights
- Dual‑tenant retail property at 316 Havendale Boulevard, Auburndale, FL 33823
- Occupied by Domino's Pizza and Brew Hounds
- Domino's space supports delivery and carryout operations
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
$76,708
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
6.97%
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%
$1,534,160
$1.5M
Cap Rate 7%
$1,095,829
$1.1M
Cap Rate 9%
$852,311
$852.3K
Market Conditions
NOI Build-Up for 5,900 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
$109.7K $18.60/SF
− Vacancy
−$7.5K −$1.26/SF
EGI
$102.3K $17.34/SF
− OpEx
−$25.6K −$4.33/SF
NOI
$76.7K $13.00/SF
Area
Polk County, FL
Vacancy
6.80%
Lease Rate
$18.60 /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%
$1,534,160
Cap Rate 7%
$1,095,829
Cap Rate 9%
$852,311
Alternative Uses
Best Use
Specialty Retail
$1.10M
$958.9K – $1.28M
NOI $76,708 @ 7.0% cap · market cap 6.97%
Second Best
Retail
$946.5K
$828.2K – $1.10M
NOI $66,257 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,247 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
278k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Groceries 29%
Shops & Services 28%
Home Improvements & Furnishings 4%
Publix
Groceries
45,010 visits/mo
0.4 miles
Wawa
Shops & Services
36,620 visits/mo
0.1 miles
McDonald's
Dining
32,041 visits/mo
0.2 miles
Winn-Dixie
Groceries
22,660 visits/mo
0.2 miles
Save-A-Lot
Groceries
12,752 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail property occupied by a Domino's Pizza location and an established local bar with separate operating concepts.
Where is this retail space located?
The property is located at 316 Havendale Blvd Auburndale, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Dual‑tenant retail property at 316 Havendale Boulevard, Auburndale, FL 33823; Occupied by Domino's Pizza and Brew Hounds; Domino's space supports delivery and carryout operations
