Five-Unit Apartment
New
For Sale
$650,000
520 S BROADWAY Avenue, Bartow, FL 33830
Commercial Sale, BARTOW, FL
Property Size3,767 SF
Lot Size0.18 Acres
Price / SF$172.55
Days on Market2
Property Features for 520 S BROADWAY Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-3
Window features
Blinds
Basement
Crawl Space
Appliances
Refrigerator
Subdivision
BUCKS ADD
Lot features
Curb and Gutters, Historic District, City Limits, Sidewalk, Paved
Directions
From Hwy 60 and Broadway, turn (SOUTH) on Broadway and property will be on the (LEFT)
Standard status
Active
APN
25-30-08-000000-033170
Size
3,767 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG 264 FT S OF NW COR OF NW1/4 RUN E 150 FT S 73 FT W 150 FT N TO BEG
Tax Annual Amount
8249
Legal Description
BEG 264 FT S OF NW COR OF NW1/4 RUN E 150 FT S 73 FT W 150 FT N TO BEG
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
onsite laundry
Building Details
Year built
1910
Floors in Building
2
Number of units
5
Flooring type
Carpet, Vinyl
Building materials
Frame
Roof type
Shingle
Listing Agency:
CENTURY 21 MYERS REALTY · Century 21 Real Estate
(863) 875-5656
Listed By:
Michael Brenner · License #3069077
(863) 557-3300
Added: Aug 22
Last Checked: Aug 23 at 4:06PM
MLS# S5156077
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5-unit apartment property contains 3,767 square feet on a 0.18-acre site and dates to 1910. The unit mix includes three 2-bedroom/2-bath apartments, one 1-bedroom/1-bath apartment, and one studio with a full bath. Interior work in select units includes kitchen updates, waterproof laminate flooring, and bathroom improvements. The property is fully leased and includes a refrigerator, central heating, public water, public sewer, and onsite laundry scheduled for 2026.
Recent capital work includes a roof replacement completed in 2021, HVAC improvements in 2022, and plumbing improvements in 2025. The frame building has shingle roofing, carpet and vinyl flooring, and a combination of central air and wall or window units. Zoned R-3, the property is located near Downtown Bartow at 520 S Broadway Avenue.
Recent capital work includes a roof replacement completed in 2021, HVAC improvements in 2022, and plumbing improvements in 2025. The frame building has shingle roofing, carpet and vinyl flooring, and a combination of central air and wall or window units. Zoned R-3, the property is located near Downtown Bartow at 520 S Broadway Avenue.
Key Highlights
- 5‑unit apartment property totaling 3,767 square feet on 0.18 acres
- Unit mix: three 2‑bedroom/2‑bath units, one 1‑bedroom/1‑bath unit, and one studio with full bath
- Fully leased multifamily property
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
$35,681
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
5.49%
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%
$713,620
$713.6K
Cap Rate 7%
$509,729
$509.7K
Cap Rate 9%
$396,456
$396.5K
Market Conditions
NOI Build-Up for 3,767 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
$69.2K $18.36/SF
− Vacancy
−$4.3K −$1.14/SF
EGI
$64.9K $17.22/SF
− OpEx
−$29.2K −$7.75/SF
NOI
$35.7K $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%
$713,620
Cap Rate 7%
$509,729
Cap Rate 9%
$396,456
Alternative Uses
Best Use
Apartment 5plus
$509.7K
$446.0K – $594.7K
NOI $35,681 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.2K
$792.1K – $1.06M
NOI $63,367 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 33830, FL
29,926
Population
11,989
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
120.5 sq mi
ZIP Area
248
Density / Sq Mi
$62,636
Median Household Income
$37,078
Median Earnings
$1,017
Median Rent
$207,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property with updated systems and onsite laundry scheduled for 2026.
Where is this apartment building located?
The property is located at 520 S BROADWAY Avenue Bartow, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5‑unit apartment property totaling 3,767 square feet on 0.18 acres; Unit mix: three 2‑bedroom/2‑bath units, one 1‑bedroom/1‑bath unit, and one studio with full bath; Fully leased multifamily property
