Davenport Investment
For Sale
$68,000
43420 HIGHWAY 27 242, Davenport, FL 33837
Apartment in a great location with low HOA fees.
Property Size300 SF
Lot Size187.00 Acres
Days on Market267
Property Features for 43420 HIGHWAY 27 242
General Information
Standard status
Active
Size
300 SF
Lot size
187.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$642
Building Details
Building Size
300 SF
Year Built
1999
Stories
2
Listing Agency:
(305) 467-4025
Listed By:
Jennifer Sarria
(305) 467-4025
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 22 at 10:29AM
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 Jennifer Sarria
Investment Insights
Based on property information with market context.
This property presents an opportunity for investors or owners seeking a residence near major highways, shopping centers, restaurants, medical facilities, hospitals, and entertainment venues. The Homeowner Association fee is $242 monthly, covering electricity, cable TV, water, and garbage collection services. Residents are only responsible for internet costs. The unit overlooks the pool, a gazebo, and a green space. The property features ample parking and convenient access to laundry facilities. The unit has ceramic tile flooring throughout.
Key Highlights
- Prime location near highways, shopping, restaurants, medical facilities, hospitals, and entertainment.
- HOA fee of only $242 monthly includes electricity, cable TV, water, and garbage collection.
- Unit faces the pool, gazebo, and green 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
$2,842
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
4.18%
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%
$56,840
$56.8K
Cap Rate 7%
$40,600
$40.6K
Cap Rate 9%
$31,578
$31.6K
Market Conditions
NOI Build-Up for 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
$5.5K $18.36/SF
− Vacancy
−$341 −$1.14/SF
EGI
$5.2K $17.22/SF
− OpEx
−$2.3K −$7.75/SF
NOI
$2.8K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$56,840
Cap Rate 7%
$40,600
Cap Rate 9%
$31,578
Alternative Uses
Best Use
Apartment 5plus
$40.6K
$35.5K – $47.4K
NOI $2,842 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$72.1K
$63.1K – $84.1K
NOI $5,046 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 33837, FL
36,302
Population
19,082
Households
1.9
Avg Household Size
40
Median Age
27%
College-Educated
90%
High-School Grad
51.3 sq mi
ZIP Area
708
Density / Sq Mi
$75,861
Median Household Income
$39,246
Median Earnings
$1,739
Median Rent
$297,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment in a great location with low HOA fees.
Where is this apartment building located?
The property is located at 43420 HIGHWAY 27 242 Davenport, FL.
What is the asking price?
The asking price for this property is $68,000.
What are key features of this property?
This property features: Prime location near highways, shopping, restaurants, medical facilities, hospitals, and entertainment.; HOA fee of only $242 monthly includes electricity, cable TV, water, and garbage collection.; Unit faces the pool, gazebo, and green space.
