Triplex Property With Unfinished
For Sale
$234,900
1550 E BAY Street, Bartow, FL 33830
Residential Income, BARTOW, FL
Property Size1,152 SF
Lot Size0.18 Acres
Price / SF$203.91
Days on Market212
Property Features for 1550 E BAY Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-2
Bedrooms
3
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 6, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 2
Interior features
Open Floorplan
Exterior features
Sidewalk
Appliances
Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
SOUTH FLORIDA RR ADD
Lot features
Corner Lot, City Limits, Paved
Directions
Head east on E State Rd 60, Turn right onto W Main St, Turn right onto S Holland Pkwy, Turn left onto E Bay St, Destination will be on the left.
Standard status
Active
APN
25-30-08-414500-024080
Size
1,152 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SOUTH FLORIDA RR ADD PB 1 PG 27 TIER 2 BLK 4 LOT 8
Tax Annual Amount
2580
Legal Description
SOUTH FLORIDA RR ADD PB 1 PG 27 TIER 2 BLK 4 LOT 8
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Number of units
3
Flooring type
Laminate
Building materials
Frame
Roof type
Shingle
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Gaby Murillo · License #3117513
(863) 668-1914
Added: Feb 15
Changed: Sep 12
Last Checked: Sep 15 at 3:06AM
MLS# L4959432
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,152-square-foot residential property on 0.18 acres includes a remodeled three-bedroom, two-bathroom main residence. Improvements include a newer kitchen with appliances, updated bathrooms, laminate flooring, interior paint, windows, doors, electrical components, and central air conditioning. The layout also includes two studio areas with separate entrances; both remain unfinished and require interior build-out.
Built in 1973, the property has frame construction, a shingle roof, public water, public sewer, and water available. Additional features include an open floor plan, sidewalk access, central heating, and appliances including a range, refrigerator, microwave, washer, and dryer. The property is approximately 10 minutes from downtown Bartow and is zoned R-2.
Built in 1973, the property has frame construction, a shingle roof, public water, public sewer, and water available. Additional features include an open floor plan, sidewalk access, central heating, and appliances including a range, refrigerator, microwave, washer, and dryer. The property is approximately 10 minutes from downtown Bartow and is zoned R-2.
Key Highlights
- 1,152‑square‑foot property on a 0.18‑acre lot
- Remodeled 3‑bedroom, 2‑bathroom main residence
- Two unfinished studio areas, each with a private entrance
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
$12,215
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
5.20%
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%
$244,300
$244.3K
Cap Rate 7%
$174,500
$174.5K
Cap Rate 9%
$135,722
$135.7K
Market Conditions
NOI Build-Up for 1,152 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
$18.7K $16.20/SF
− Vacancy
−$1.2K −$1.05/SF
EGI
$17.4K $15.15/SF
− OpEx
−$5.2K −$4.54/SF
NOI
$12.2K $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%
$244,300
Cap Rate 7%
$174,500
Cap Rate 9%
$135,722
Alternative Uses
Best Use
Multifamily LT 5
$174.5K
$152.7K – $203.6K
NOI $12,215 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$155.9K
$136.4K – $181.9K
NOI $10,912 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$276.8K
$242.2K – $323.0K
NOI $19,378 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 33830, FL
29,926
Population
11,989
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
120.5 sq mi
ZIP Area
248
Density / Sq Mi
$62,636
Median Household Income
$37,078
Median Earnings
$1,017
Median Rent
$207,900
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - The property carries R-2 zoning and includes public water and sewer service.
Where is this triplex located?
The property is located at 1550 E BAY Street Bartow, FL.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,152‑square‑foot property on a 0.18‑acre lot; Remodeled 3‑bedroom, 2‑bathroom main residence; Two unfinished studio areas, each with a private entrance
