Live-Work Space with Office
For Sale
$275,000
208 CENTER Street, Auburndale, FL 33823
Commercial Sale, AUBURNDALE, FL
Property Size1,476 SF
Lot Size0.18 Acres
Price / SF$186.31
Days on Market97
Property Features for 208 CENTER Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CG-1
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Washer
Subdivision
WEEKS D P RESUB
Lot features
Central Business District, City Limits, Paved
Directions
Take Auburndale Hwy (US-92 E) and go towards Downtown Auburndale for 2.8 miles; Turn left onto Main St. and go for .4 mile; Turn right onto Palmetto St. and then turn left onto Center St.; the property is located on the right side of the street.
Standard status
Active
APN
25-28-11-332500-001231
Size
1,476 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WEEKS D P RESUBDIVISION PB 11 PG 14 BLK 1 PART LOTS 23 TO 28 DESC AS BEG NW COR LOT 28 FOR POB RUN SWLY ALONG CENTRAL ST 57 FT SELY 102 FT SWLY 3 FT SELY 33 FT NELY 60 FT NWLY 135 FT TO POB
Tax Annual Amount
1749
Legal Description
WEEKS D P RESUBDIVISION PB 11 PG 14 BLK 1 PART LOTS 23 TO 28 DESC AS BEG NW COR LOT 28 FOR POB RUN SWLY ALONG CENTRAL ST 57 FT SELY 102 FT SWLY 3 FT SELY 33 FT NELY 60 FT NWLY 135 FT TO POB
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Flooring type
Vinyl, Carpet
Building materials
Stone, Stucco, Frame
Roof type
Shingle, Metal
Listing Agency:
CENTURY 21 MYERS REALTY · Century 21 Real Estate
(863) 875-5656
Listed By:
Miranda Gregory · License #3626111
(919) 576-6993
Added: May 22
Changed: Aug 25
Last Checked: Aug 26 at 2:06PM
MLS# S5150302
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 1,476-square-foot live-work property occupies a 0.18-acre site and was built in 1940. The interior includes a vaulted-ceiling room with a fireplace, a fully equipped kitchen with updated appliances and cabinetry, several additional rooms suitable for office, meeting, or treatment functions, and a primary bedroom with an ensuite bathroom and oversized closet. Recent improvements include a replaced HVAC system, new flooring, remodeled bathrooms, and a rebuilt chimney with a 60-inch electric fireplace.
Located on Center Street in downtown Auburndale, the property carries CG-1 zoning and includes a vinyl privacy fence with solar lighting plus a double gate providing backside access. Public water and public sewer serve the property, with electricity available.
Located on Center Street in downtown Auburndale, the property carries CG-1 zoning and includes a vinyl privacy fence with solar lighting plus a double gate providing backside access. Public water and public sewer serve the property, with electricity available.
Key Highlights
- 1,476 SF live‑work property on a 0.18‑acre site
- CG‑1 zoning in downtown Auburndale
- Vaulted‑ceiling room with fireplace for reception or gathering use
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - CG-1-zoned property with flexible rooms, updated systems, and a full kitchen.
Where is this live-work space located?
The property is located at 208 CENTER Street 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: 1,476 SF live‑work property on a 0.18‑acre site; CG‑1 zoning in downtown Auburndale; Vaulted‑ceiling room with fireplace for reception or gathering use
