Church and Ministry
New
For Sale
$750,000
208 E LAKE Avenue, Auburndale, FL 33823
Commercial Sale, AUBURNDALE, FL
Property Size5,018 SF
Lot Size0.45 Acres
Price / SF$149.46
Days on Market2
Property Features for 208 E LAKE Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Window features
Blinds
Appliances
Microwave, Refrigerator
Subdivision
AUBURNDALE
Lot features
City Limits, Sidewalk, Street Lights, Paved
Directions
Heading south on Berkley Rd, turn left onto Old Lakeland Auburndale Rd. Continue onto Ramsgate Rd. Slight right onto Pearl St. Turn left onto Pilaklakaha Ave/ W Park St. Turn right onto N Bartow Ave/Main St. Turn left onto E Lake Ave. Destination will be on the right
Standard status
Active
APN
25-28-11-331500-010032
Size
5,018 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AUBURNDALE PB 1 PG 26 S10 T28 R25 & S11 T28 R25 BLK J LOT 3 LESS BEG NW COR RUN SELY 24 FT SW PARALLEL TO LOT LINE 105 FT NW 24 FT NELY 105 FT TO BEG
Legal Description
AUBURNDALE PB 1 PG 26 S10 T28 R25 & S11 T28 R25 BLK J LOT 3 LESS BEG NW COR RUN SELY 24 FT SW PARALLEL TO LOT LINE 105 FT NW 24 FT NELY 105 FT TO BEG
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
updated flooring
modern lighting
sound system infrastructure
large break room/kitchen area
storage and workroom space
ADA-accessible restroom facilities
multiple points of entry
Building Details
Year built
1985
Floors in Building
1
Flooring type
Vinyl, Tile
Building materials
Concrete
Roof type
Metal
Listing Agency:
CENTURY 21 MYERS REALTY · Century 21 Real Estate
(863) 875-5656
Listed By:
Brenda Brooks · License #3469835
(863) 370-9667
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 5:06AM
MLS# S5156809
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 5,018-square-foot concrete facility was built in 1985 and is arranged as a church and ministry center. The property includes a sanctuary or assembly hall with updated flooring, modern lighting, sound-system infrastructure, and a presentation area. Additional interior areas include fellowship and meeting rooms, private offices, reception and waiting areas, administrative workspaces, conference areas, support rooms, a break room and kitchen, storage, and workroom space.
The building has multiple entry points, ADA-accessible restrooms, vinyl and tile flooring, central heating, central air conditioning, a metal roof, public water, and public sewer. On-site parking supports staff, visitors, congregants, clients, and event attendees. Zoned CBD, the 0.45-acre property is configured for religious, nonprofit, educational, counseling, office, training, event, and community-outreach functions identified in the property information.
The building has multiple entry points, ADA-accessible restrooms, vinyl and tile flooring, central heating, central air conditioning, a metal roof, public water, and public sewer. On-site parking supports staff, visitors, congregants, clients, and event attendees. Zoned CBD, the 0.45-acre property is configured for religious, nonprofit, educational, counseling, office, training, event, and community-outreach functions identified in the property information.
Key Highlights
- 5,018‑square‑foot church and ministry center on 0.45 acres
- Sanctuary or assembly hall with sound‑system infrastructure and presentation area
- Office wing includes private offices, reception, waiting, administrative, and conference areas
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
$61,646
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
8.22%
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%
$1,232,920
$1.2M
Cap Rate 7%
$880,657
$880.7K
Cap Rate 9%
$684,956
$685.0K
Market Conditions
NOI Build-Up for 5,018 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
$105.4K $21.00/SF
− Vacancy
−$23.2K −$4.62/SF
EGI
$82.2K $16.38/SF
− OpEx
−$20.5K −$4.10/SF
NOI
$61.6K $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%
$1,232,920
Cap Rate 7%
$880,657
Cap Rate 9%
$684,956
Alternative Uses
Best Use
Office B
$880.7K
$770.6K – $1.03M
NOI $61,646 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,411 @ 7.0% cap · market cap 11.25%
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
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Flexible institutional facility with assembly, office, meeting, kitchen, storage, and accessible restroom areas.
Where is this church & religious facility located?
The property is located at 208 E LAKE Avenue Auburndale, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,018‑square‑foot church and ministry center on 0.45 acres; Sanctuary or assembly hall with sound‑system infrastructure and presentation area; Office wing includes private offices, reception, waiting, administrative, and conference areas
