Triplex with New
For Sale
$350,000
Pending
153 VARNER DRIVE SW, Winter Haven, FL 33880
Three-unit property with a roof installed in 2025.
Property Size2,565 SF
Days on Market8
Property Features for 153 VARNER DRIVE SW
General Information
Standard status
Pending
Size
2,565 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Amenities
0.2 acres, Dimensions: 50x148
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 25-28-25-000000-022300, Public Survey Range: 25, Public Survey Section: 25, Annual Amount: $4,450.6, Tax Book Number: P-81, Legal Description: COMM NW COR E1/2 OF NW1/4 OF SE1/4 OF SE1/4 RUN S 611 FT FOR POB CONT S 49.69 FT E 167 FT N 50.8 FT NWLY ALONG CURVE 51.39 FT S 58 DEG 53 MIN 22 SEC W 48.8 FT W 82.41 FT TO POB LESS COMM NW COR E1/2 OF NW1/4 OF SE1/4 OF SE1/4 RUN S 611 FT FOR POB CON T S 4.69 FT E 81.42 FT N 58 DEG 53 MIN 22 SEC E 52.99 FT NWLY ALONG CURVE 3 FT S 58 DEG 53 MIN 22 SEC W 48.8 FT W 82.41 FT TO POB BEING PART LOT 12 OF UNRE VARNER VILLAS, Lot: 12, Year: 2025, Zoning: R-3
Central Air
Central
Laundry Closet
Listing ID: MFRP4939693, Standard Status: Pending, MLS Status: Pending, Property Subtype: Triplex, On market as of 2026-08-24, Off market as of 2026-08-24, Special Conditions: None
6 total bedrooms
Built in 1982, Living area: 2565, Living area units: Square Feet, Construction Materials: Block
Subdivision: VARNER VILLAS, MLS Area (Major): 33880 - Winter Haven/Eloise/JPV/Wahnetta, County/Parish: Polk
6 total bathrooms
Cable Available, Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public
Slab
Road Surface: Asphalt, Paved
Lighting
Ceiling Fans(s), Eat-in Kitchen, Living Room/Dining Room Combo
Building Details
Year Built
1982
Listing Agency:
KELLER WILLIAMS REALTY SMART 1
(863) 508-3000
Listed By:
Katherine Montana - De Jesus · License #3585745
Source:
Miharaandassociates
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 30 at 4:45PM
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 KELLER WILLIAMS REALTY SMART 1
Investment Insights
Based on property information with market context.
This triplex property at 153 Varner Drive SW in Winter Haven contains 2,565 square feet and was built in 1982. The roof was replaced in 2025, providing a recent major improvement to the property.
Key Highlights
- Triplex property with 2,565 square feet
- New roof installed in 2025
- Built in 1982
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
$27,196
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
7.77%
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%
$543,920
$543.9K
Cap Rate 7%
$388,514
$388.5K
Cap Rate 9%
$302,178
$302.2K
Market Conditions
NOI Build-Up for 2,565 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
$41.6K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.9K $15.15/SF
− OpEx
−$11.7K −$4.54/SF
NOI
$27.2K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$543,920
Cap Rate 7%
$388,514
Cap Rate 9%
$302,178
Alternative Uses
Best Use
Multifamily LT 5
$388.5K
$340.0K – $453.3K
NOI $27,196 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$347.1K
$303.7K – $404.9K
NOI $24,295 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$616.4K
$539.3K – $719.1K
NOI $43,147 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
279
Businesses Nearby
Explore this area
Business Placement
Demographics for 33880, FL
42,005
Population
17,055
Households
2.5
Avg Household Size
38
Median Age
17%
College-Educated
84%
High-School Grad
32.4 sq mi
ZIP Area
1,296
Density / Sq Mi
$56,803
Median Household Income
$35,051
Median Earnings
$1,128
Median Rent
$200,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with a roof installed in 2025.
Where is this triplex located?
The property is located at 153 VARNER DRIVE SW Winter Haven, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Triplex property with 2,565 square feet; New roof installed in 2025; Built in 1982
