Office Building with Flexible
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229 Avenue K SE, Winter Haven, FL 33880
Leased commercial office property with private rooms, kitchen facilities, and on-site parking near downtown Winter Haven.
Property Size2,368 SF
Price / SF$147.80
Days on Market6
Property Features for 229 Avenue K SE
General Information
Standard status
Active
Size
2,368 SF
Property subtype
OFFICE
Additional Details
Utilities to Site
Yes
Amenities
3 bathrooms
Fully functioning kitchen
7 private rooms
Building Details
Buildings
1
Building Size
2,368 SF
Tenancy
Single
Listing Agency:
Crosby & Associates, Inc.
(863) 673-9368
Listed By:
Chip Fortenberry · License #662316
(863) 673-9368
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 10 at 4:49AM
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 Crosby & Associates, Inc.
Investment Insights
Based on property information with market context.
This 2,368-square-foot office building at 229 Avenue K SE in Winter Haven is currently leased to a day care facility. The interior includes 7 private rooms that can accommodate offices, classrooms, or other workspace configurations, along with 3 bathrooms and a fully functioning kitchen. The existing layout supports continued day care operations or professional office use.
The property includes 10+ on-site parking spaces and is located 4 minutes from downtown Winter Haven. Electricity, water, sewer, cable, and high-speed internet are in place, providing established infrastructure for the current occupant or a future commercial use.
The property includes 10+ on-site parking spaces and is located 4 minutes from downtown Winter Haven. Electricity, water, sewer, cable, and high-speed internet are in place, providing established infrastructure for the current occupant or a future commercial use.
Key Highlights
- 2,368‑square‑foot office building at 229 Avenue K SE, Winter Haven, FL 33880
- Currently leased to a day care facility
- 7 private rooms for offices, classrooms, or flexible workspace
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
$29,091
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
8.31%
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%
$581,820
$581.8K
Cap Rate 7%
$415,586
$415.6K
Cap Rate 9%
$323,233
$323.2K
Market Conditions
NOI Build-Up for 2,368 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
$49.7K $21.00/SF
− Vacancy
−$10.9K −$4.62/SF
EGI
$38.8K $16.38/SF
− OpEx
−$9.7K −$4.10/SF
NOI
$29.1K $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%
$581,820
Cap Rate 7%
$415,586
Cap Rate 9%
$323,233
Alternative Uses
Best Use
Office B
$415.6K
$363.6K – $484.9K
NOI $29,091 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$569.1K
$497.9K – $663.9K
NOI $39,834 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,834
Businesses Nearby
Explore this area
Business Placement
Demographics for 33880, FL
42,005
Population
17,055
Households
2.5
Avg Household Size
38
Median Age
17%
College-Educated
84%
High-School Grad
32.4 sq mi
ZIP Area
1,296
Density / Sq Mi
$56,803
Median Household Income
$35,051
Median Earnings
$1,128
Median Rent
$200,900
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 building - Leased commercial office property with private rooms, kitchen facilities, and on-site parking near downtown Winter Haven.
Where is this office building located?
The property is located at 229 Avenue K SE Winter Haven, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,368‑square‑foot office building at 229 Avenue K SE, Winter Haven, FL 33880; Currently leased to a day care facility; 7 private rooms for offices, classrooms, or flexible workspace
