Mixed Retail and Office
For Sale
$354,000
223 N 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$272.31
Days on Market126
Property Features for 223 N COMMONWEALTH AVE SW
General Information
Standard status
Active
Size
1,412 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$3,472
Building Details
Building Size
1,412 SF
Year Built
1987
Listing Agency:
DC GLOBAL PARTNERS
Listed By:
Hugo L Calvillo · License #3339757
(407) 729-3006
Source:
Kingofrealestate
Added: Jun 17
Changed: Oct 11
Last Checked: Oct 19 at 3:49PM
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
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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 / Yr
$15,971
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
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
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 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 4.51%
Second Best
Retail
$208.6K
$182.5K – $243.3K
NOI $14,599 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$312.4K
$273.4K – $364.5K
NOI $21,868 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - One-story mixed-use building with flexible office or retail options, suited for owner-user or adaptable commercial leasing.
Where is this office unit located?
The property is located at 223 N COMMONWEALTH AVE SW Polk City, FL.
What is the asking price?
The asking price for this property is $354,000.
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
