Church and Ministry
New
For Sale
$750,000
208 E LAKE AVENUE, Auburndale, FL 33823
Configured facility combines assembly, meeting, office, kitchen, storage, and accessible restroom spaces under one roof.
Property Size5,018 SF
Price / SF$149.46
Days on Market4
Property Features for 208 E LAKE AVENUE
General Information
Standard status
Active
Size
5,018 SF
Property subtype
Assembly Building
Amenities
large break room/kitchen area
storage and workroom space
ADA-accessible restroom facilities
multiple points of entry
Building Details
Year Built
1985
Listing Agency:
CENTURY 21 MYERS REALTY
(863) 875-5656
Listed By:
Brenda Brooks · License #3469835
(863) 370-9667
Source:
Dennisrealty
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 2:55PM
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 CENTURY 21 MYERS REALTY
Investment Insights
Based on property information with market context.
This 5,018-square-foot commercial facility is configured as a church and ministry center and was built in 1985. The interior includes a sanctuary or assembly hall with updated flooring, modern lighting, sound system infrastructure, and a presentation area. Fellowship and meeting rooms support classes, small-group gatherings, receptions, training sessions, youth programs, and community events.
The office wing provides multiple private offices, reception and waiting areas, administrative workspaces, conference areas, and support rooms. Additional improvements include a break room and kitchen, storage and workroom areas, ADA-accessible restrooms, and multiple entry points. Durable wood-look flooring, neutral finishes, and updated lighting are present throughout. The property also includes on-site parking and is located at 208 E Lake Avenue in Auburndale, Florida.
The office wing provides multiple private offices, reception and waiting areas, administrative workspaces, conference areas, and support rooms. Additional improvements include a break room and kitchen, storage and workroom areas, ADA-accessible restrooms, and multiple entry points. Durable wood-look flooring, neutral finishes, and updated lighting are present throughout. The property also includes on-site parking and is located at 208 E Lake Avenue in Auburndale, Florida.
Key Highlights
- 5,018 SF church and ministry center built in 1985
- Sanctuary or assembly hall with presentation area and sound system infrastructure
- Multiple private offices, reception and waiting areas, and conference spaces
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
$56,509
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
7.53%
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%
$1,130,180
$1.1M
Cap Rate 7%
$807,271
$807.3K
Cap Rate 9%
$627,878
$627.9K
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
$99.4K $19.80/SF
− Vacancy
−$8.9K −$1.78/SF
EGI
$90.4K $18.02/SF
− OpEx
−$33.9K −$6.76/SF
NOI
$56.5K $11.26/SF
Area
Polk County, FL
Vacancy
9.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
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%
$1,130,180
Cap Rate 7%
$807,271
Cap Rate 9%
$627,878
Alternative Uses
Best Use
Mixed Use
$807.3K
$706.4K – $941.8K
NOI $56,509 @ 7.0% cap · market cap 7.53%
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
640
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Configured facility combines assembly, meeting, office, kitchen, storage, and accessible restroom spaces under one roof.
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 SF church and ministry center built in 1985; Sanctuary or assembly hall with presentation area and sound system infrastructure; Multiple private offices, reception and waiting areas, and conference spaces
