Six-Unit Office
For Sale
$250,000
215 N SCENIC Highway, Frostproof, FL 33843
Commercial Sale, FROSTPROOF, FL
Property Size3,512 SF
Lot Size0.18 Acres
Price / SF$71.18
Days on Market2152
Property Features for 215 N SCENIC Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Subdivision
FROSTPROOF IN US
Lot features
Central Business District, City Limits, Sidewalk, Street Lights, Paved
Directions
From Lake Wales to Frostproof Exit 630A to 630/Scenic intersection at McDonald's. Right on Scenic this property will be on your right. Located between "B" and "A" street.
Standard status
Active
APN
28-31-32-968200-004013
Size
3,512 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
FROSTPROOF IN U S LOT 1 PB 1 PG 41 BLK 4 LOT 1 S 46.2 FT OF W 150 FT OF E 180 FT & N 6.2 FT OF W 150 FT OF E 180 FT OF 4
Tax Annual Amount
2823
Legal Description
FROSTPROOF IN U S LOT 1 PB 1 PG 41 BLK 4 LOT 1 S 46.2 FT OF W 150 FT OF E 180 FT & N 6.2 FT OF W 150 FT OF E 180 FT OF 4
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Amenities
outdoor courtyard
Building Details
Year built
1980
Floors in Building
1
Flooring type
Concrete, Laminate, Tile - Ceramic, Carpet
Building materials
Concrete, Metal Frame
Listing Agency:
KEYSTONE REALTY
(863) 635-0030
Listed By:
Cindy Wise · License #3192426
(863) 528-0366
Added: Oct 2, 2020
Changed: Aug 19
Last Checked: Aug 23 at 9:06AM
MLS# K4901041
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 office property comprises two buildings totaling 3,512 square feet on 0.18 acres. The 612-square-foot concrete block building includes a front lobby, two private offices, and a bathroom. A 2,900-square-foot metal-frame building is divided into five rental spaces, each with a handicap/unisex restroom and separate power and water meters. Wall-mounted air-conditioning and heating units serve each unit.
The property fronts Scenic Highway and includes parking along the highway, additional rear parking, designated handicap spaces, and an outdoor courtyard. Electricity, city water, and city sewer are connected and available to the rental spaces. The buildings were constructed in 1980, brought up to code in 2013, and updated again in 2022. GC zoning and Commercial General Land Use support listed possibilities including business offices, medical, clinic, fitness, florist, child care, adult day care, and assisted living uses.
The property fronts Scenic Highway and includes parking along the highway, additional rear parking, designated handicap spaces, and an outdoor courtyard. Electricity, city water, and city sewer are connected and available to the rental spaces. The buildings were constructed in 1980, brought up to code in 2013, and updated again in 2022. GC zoning and Commercial General Land Use support listed possibilities including business offices, medical, clinic, fitness, florist, child care, adult day care, and assisted living uses.
Key Highlights
- Two buildings totaling 3,512 square feet on 0.18 acres
- Six total units: one 612‑square‑foot office and five spaces within a 2,900‑square‑foot building
- Each of the five rental spaces has a handicap/unisex restroom and separate power and water meter
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
$18,902
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
7.56%
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%
$378,040
$378.0K
Cap Rate 7%
$270,029
$270.0K
Cap Rate 9%
$210,022
$210.0K
Market Conditions
NOI Build-Up for 3,512 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
$31.6K $9.00/SF
− Vacancy
−$2.5K −$0.72/SF
EGI
$29.1K $8.28/SF
− OpEx
−$10.2K −$2.90/SF
NOI
$18.9K $5.38/SF
Area
Polk County, FL
Vacancy
8.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
35.00%
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%
$378,040
Cap Rate 7%
$270,029
Cap Rate 9%
$210,022
Alternative Uses
Best Use
Office B
$616.4K
$539.3K – $719.1K
NOI $43,145 @ 7.0% cap · market cap 17.26%
Second Best
Flex RnD
$270.0K
$236.3K – $315.0K
NOI $18,902 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$844.0K
$738.5K – $984.6K
NOI $59,077 @ 7.0% cap · market cap 23.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
Demographics for 33843, FL
11,864
Population
5,930
Households
2
Avg Household Size
45
Median Age
15%
College-Educated
81%
High-School Grad
124.0 sq mi
ZIP Area
96
Density / Sq Mi
$51,358
Median Household Income
$28,857
Median Earnings
$864
Median Rent
$107,900
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?
Office units - GC-zoned commercial improvements with separate utility metering, on-site parking, and flexible office configurations.
Where is this office units located?
The property is located at 215 N SCENIC Highway Frostproof, FL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two buildings totaling 3,512 square feet on 0.18 acres; Six total units: one 612‑square‑foot office and five spaces within a 2,900‑square‑foot building; Each of the five rental spaces has a handicap/unisex restroom and separate power and water meter
