Two-Building Mixed-Use
For Sale
$450,000
221 N Scenic Hwy, Frostproof, FL 33843
Commercial General zoning, public utilities, and flexible office, storage, and service-oriented building layouts.
Property Size4,680 SF
Price / SF$96.15
Days on Market50
Property Features for 221 N Scenic Hwy
General Information
Standard status
Active
Size
4,680 SF
Zoning
COMMERCIAL GENERAL
Site & Location
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
20 ft
Office Build-Out
240 SF
Building Details
Year Built
1957
Buildings
2
Listing Agency:
ESTELLE SULLIVAN REALTY, LLC
Listed By:
Estelle Sullivan · License #348503
(863) 632-2062
Source:
Chenoregroup
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 7 at 2:19PM
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 ESTELLE SULLIVAN REALTY, LLC
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Investment Insights
Based on property information with market context.
This mixed-use property includes two separate commercial buildings totaling 4,680 square feet. The front structure is a 2,700-square-foot concrete block building with 12-foot ceilings, an open area suitable for reception, boardroom, or additional office space, and an existing 24-by-10-foot office. A 34-by-34-foot rear area contains a kitchenette, parts storage, utility closets, two bathrooms, and additional open space.
Positioned behind the office is a 1,980-square-foot steel building measuring 45 by 44 feet, with 20-foot ceilings and two roll-up doors. The closed alley provides additional space that may be used for parking or other purposes. Electricity is connected, public utilities are available, and public parking is located in front along a State Road. Commercial General zoning allows banking, special needs care, beauty shops, fitness, medical offices, and other listed business uses. The property is located at 221 N Scenic Hwy in Frostproof, Florida, and was built in 1957.
Positioned behind the office is a 1,980-square-foot steel building measuring 45 by 44 feet, with 20-foot ceilings and two roll-up doors. The closed alley provides additional space that may be used for parking or other purposes. Electricity is connected, public utilities are available, and public parking is located in front along a State Road. Commercial General zoning allows banking, special needs care, beauty shops, fitness, medical offices, and other listed business uses. The property is located at 221 N Scenic Hwy in Frostproof, Florida, and was built in 1957.
Key Highlights
- Two separate buildings totaling 4,680 square feet
- 2,700‑square‑foot concrete block building with 12‑foot ceilings
- 1,980‑square‑foot steel building with 20‑foot ceilings and two roll‑up doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,176
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,520
$623.5K
Cap Rate 7%
$445,371
$445.4K
Cap Rate 9%
$346,400
$346.4K
Market Conditions
NOI Build-Up for 4,680 SF
Gross rent
$39.8K $8.50/SF
− Vacancy
−$3.1K −$0.66/SF
EGI
$36.7K $7.84/SF
− OpEx
−$5.5K −$1.18/SF
NOI
$31.2K $6.66/SF
Area
Polk County, FL
Vacancy
7.80%
Lease Rate
$8.50 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$623,520
Cap Rate 7%
$445,371
Cap Rate 9%
$346,400
Alternative Uses
Best Use
Office B
$821.3K
$718.7K – $958.2K
NOI $57,494 @ 7.0% cap · market cap 12.78%
Second Best
Mixed Use
$752.9K
$658.8K – $878.4K
NOI $52,703 @ 7.0% cap · market cap 11.71%
Theoretical Best
Office A
$1.12M
$984.1K – $1.31M
NOI $78,725 @ 7.0% cap · market cap 17.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
20 ft
Clear height
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial General zoning, public utilities, and flexible office, storage, and service-oriented building layouts.
Where is this mixed-use property located?
The property is located at 221 N Scenic Hwy Frostproof, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two separate buildings totaling 4,680 square feet; 2,700‑square‑foot concrete block building with 12‑foot ceilings; 1,980‑square‑foot steel building with 20‑foot ceilings and two roll‑up doors
