Mixed Retail and Office
For Sale
$352,000
223 Commonwealth Ave SW, Polk City, FL 33868
One-story mixed-use building with flexible office or retail options, suited for owner-user or adaptable commercial leasing.
Property Size1,412 SF
Price / SF$270.77
Days on Market62
Property Features for 223 Commonwealth Ave SW
General Information
Standard status
Active
Size
1,412 SF
Building Details
Building Size
1,412 SF
Listing Agency:
DC GLOBAL PARTNERS
(689) 220-7722
Listed By:
Hugo Calvillo · License #3339757
(689) 220-7722
Source:
Evrealestate
Added: Jun 24
Changed: Aug 24
Last Checked: Aug 24 at 5:28AM
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 DC GLOBAL PARTNERS
Investment Insights
Based on property information with market context.
This one-story mixed retail/office building is configured to support multiple commercial formats, with space that can be adapted for office, retail, professional services, or owner-user operations, subject to zoning and municipal approval. The property includes approximately 1,300 leasable square feet and about 1,412 total square feet under roof, set on a 9,831 square foot lot. The building is offered as-is, and interested parties should verify all conditions, measurements, utilities, parking, signage, and licensing requirements prior to taking action.
Located in Polk City, the property offers convenient access to local roads and sits within the growing Polk County market. Based on walk and bike scores provided, the area is more car-dependent, which can align well with tenants and customers who rely on driving for access and visibility.
For tenants or buyers seeking a flexible footprint in a mixed-use configuration, this property provides a practical option for businesses that can operate within the applicable zoning and city/county requirements. Because permitted uses and final approval requirements are subject to verification, prospective users should confirm their specific business model, site plan needs, and compliance items with the appropriate authorities before proceeding.
Located in Polk City, the property offers convenient access to local roads and sits within the growing Polk County market. Based on walk and bike scores provided, the area is more car-dependent, which can align well with tenants and customers who rely on driving for access and visibility.
For tenants or buyers seeking a flexible footprint in a mixed-use configuration, this property provides a practical option for businesses that can operate within the applicable zoning and city/county requirements. Because permitted uses and final approval requirements are subject to verification, prospective users should confirm their specific business model, site plan needs, and compliance items with the appropriate authorities before proceeding.
Key Highlights
- One‑story mixed retail/office building with approximately 1,300 leasable SF
- 1,412 total square feet under roof on a 9,831 square foot lot
- Monthly lease price is $2,450
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
$15,971
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
4.54%
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%
$319,420
$319.4K
Cap Rate 7%
$228,157
$228.2K
Cap Rate 9%
$177,456
$177.5K
Market Conditions
NOI Build-Up for 1,300 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
$27.3K $21.00/SF
− Vacancy
−$6.0K −$4.62/SF
EGI
$21.3K $16.38/SF
− OpEx
−$5.3K −$4.10/SF
NOI
$16.0K $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%
$319,420
Cap Rate 7%
$228,157
Cap Rate 9%
$177,456
Alternative Uses
Best Use
Office B
$228.2K
$199.6K – $266.2K
NOI $15,971 @ 7.0% cap · market cap 4.54%
Second Best
Retail
$208.6K
$182.5K – $243.3K
NOI $14,599 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$312.4K
$273.4K – $364.5K
NOI $21,868 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 33868, FL
12,906
Population
5,197
Households
2.5
Avg Household Size
43
Median Age
18%
College-Educated
86%
High-School Grad
182.5 sq mi
ZIP Area
71
Density / Sq Mi
$74,048
Median Household Income
$40,658
Median Earnings
$1,092
Median Rent
$235,600
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?
Office units - One-story mixed-use building with flexible office or retail options, suited for owner-user or adaptable commercial leasing.
Where is this office units located?
The property is located at 223 Commonwealth Ave SW Polk City, FL.
What is the asking price?
The asking price for this property is $352,000.
What are key features of this property?
This property features: One‑story mixed retail/office building with approximately 1,300 leasable SF; 1,412 total square feet under roof on a 9,831 square foot lot; Monthly lease price is $2,450
