Auburndale Live/Work
For Sale
$380,000
308 W BRIDGERS AVE, Auburndale, FL 33823
Redeveloped live/work property in historic Auburndale, Florida.
Property Size1,857 SF
Lot Size0.12 Acres
Price / SF$204.63
Days on Market118
Property Features for 308 W BRIDGERS AVE
General Information
Standard status
Active
Size
1,857 SF
Lot size
0.12 Acres
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$3,979
Building Details
Building Size
1,857 SF
Year Built
2023
Listing Agency:
CENTURY 21 MYERS REALTY
Listed By:
Thomas Myers · License #3443410
(760) 484-1560
Source:
Kingofrealestate
Added: May 25
Changed: Sep 9
Last Checked: Sep 19 at 12:15PM
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 CENTURY 21 MYERS REALTY
Investment Insights
Based on property information with market context.
Located in the heart of historic Auburndale, 308 West Bridgers Avenue offers a live/work opportunity. The property is situated minutes from downtown, providing convenient access to shopping, dining, schools, parks, and major transportation routes between Tampa and Orlando. Situated on an approximately 5,200-square-foot lot, the property has been recently redeveloped with newer construction elements completed around 2023. Designed for flexibility, the layout supports both residential living and office or workspace use, making it suitable for entrepreneurs, remote professionals, or small business owners. The 1,857 square feet of heated space includes 1,075 square feet downstairs and 782 square feet upstairs, plus an additional 220-square-foot unfinished porch area under roof. Interior features include quartz countertops, modern appliances, in-unit laundry, walk-in storage, balcony access, and open-concept living spaces. The upstairs living quarters combined with the downstairs kitchen and office configuration create a functional live/work environment.
Key Highlights
- Rare live/work opportunity in a growing Central Florida community.
- Recently redeveloped with newer construction elements completed around 2023.
- Flexible layout supports both residential living and office/workspace use.
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
$22,813
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
6.00%
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%
$456,260
$456.3K
Cap Rate 7%
$325,900
$325.9K
Cap Rate 9%
$253,478
$253.5K
Market Conditions
NOI Build-Up for 1,857 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
$39.0K $21.00/SF
− Vacancy
−$8.6K −$4.62/SF
EGI
$30.4K $16.38/SF
− OpEx
−$7.6K −$4.10/SF
NOI
$22.8K $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%
$456,260
Cap Rate 7%
$325,900
Cap Rate 9%
$253,478
Alternative Uses
Best Use
Office B
$325.9K
$285.2K – $380.2K
NOI $22,813 @ 7.0% cap · market cap 6.00%
Second Best
Mixed Use
$298.7K
$261.4K – $348.5K
NOI $20,912 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$446.3K
$390.5K – $520.6K
NOI $31,238 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
769
Businesses Nearby
Explore this area
Business Placement
Demographics for 33823, FL
33,733
Population
15,383
Households
2.2
Avg Household Size
42
Median Age
17%
College-Educated
86%
High-School Grad
34.9 sq mi
ZIP Area
967
Density / Sq Mi
$64,248
Median Household Income
$39,187
Median Earnings
$1,068
Median Rent
$234,300
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Redeveloped live/work property in historic Auburndale, Florida.
Where is this mixed-use property located?
The property is located at 308 W BRIDGERS AVE Auburndale, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Rare live/work opportunity in a growing Central Florida community.; Recently redeveloped with newer construction elements completed around 2023.; Flexible layout supports both residential living and office/workspace use.
