Small Office/Storefront in
For Sale
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403 N Church Ave, Mulberry, FL
900 SF office/storefront on 0.33 AC lot.
Property Size900 SF
Lot Size0.33 Acres
Price / SF$242.11
Days on Market735
Property Features for 403 N Church Ave
General Information
Standard status
Active
Size
900 SF
Lot size
0.33 Acres
Property subtype
OFFICE
Listing Agency:
Steinbauer Associates
(305) 629-9740
Listed By:
Jim Steinbauer
(863) 647-1661
Source:
Moodyscre
Added: Sep 9, 2024
Changed: Sep 11
Last Checked: Sep 12 at 11:46AM
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 Steinbauer Associates
Investment Insights
Based on property information with market context.
This property features a small office or storefront located on North Church Avenue (SR 37 North) in Mulberry. The building offers 900 square feet of space and is situated on a 0.33-acre lot.
Key Highlights
- Frontage on N. Church Ave (SR 37 N)
- Located in the heart of Mulberry
- 900 sq ft office/store space
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
$11,057
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
5.07%
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%
$221,140
$221.1K
Cap Rate 7%
$157,957
$158.0K
Cap Rate 9%
$122,856
$122.9K
Market Conditions
NOI Build-Up for 900 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
$18.9K $21.00/SF
− Vacancy
−$4.2K −$4.62/SF
EGI
$14.7K $16.38/SF
− OpEx
−$3.7K −$4.10/SF
NOI
$11.1K $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%
$221,140
Cap Rate 7%
$157,957
Cap Rate 9%
$122,856
Alternative Uses
Best Use
Office B
$158.0K
$138.2K – $184.3K
NOI $11,057 @ 7.0% cap · market cap 5.07%
Second Best
Retail
$144.4K
$126.3K – $168.5K
NOI $10,107 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$216.3K
$189.2K – $252.3K
NOI $15,139 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
341
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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?
Office units - 900 SF office/storefront on 0.33 AC lot.
Where is this office units located?
The property is located at 403 N Church Ave Mulberry, FL.
What is the asking price?
The asking price for this property is $217,900.
What are key features of this property?
This property features: Frontage on N. Church Ave (SR 37 N); Located in the heart of Mulberry; 900 sq ft office/store space
