Mixed-Use Property with
For Sale
$975,000
540 S SCENIC Highway, Frostproof, FL 33843
Commercial Sale, FROSTPROOF, FL
Property Size10,358 SF
Lot Size3.53 Acres
Price / SF$94.13
Days on Market53
Property Features for 540 S SCENIC Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
XX
Security features
Security
Subdivision
DAVIS E N RESUB
Lot features
Oversized Lot, Street Lights, Paved
Directions
From HWY 27 turn Right on US 17 down approximately 10 minutes it will be on the right.
Standard status
Active
APN
28-31-32-971800-001000
Size
10,358 SF
Lot size
3.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
DAVIS E N RESUB PB 29 PG 40 BLKS 1 THRU 3 & CLOSED ST BETWEEN BLKS 2 & 3
Tax Annual Amount
5351
Legal Description
DAVIS E N RESUB PB 29 PG 40 BLKS 1 THRU 3 & CLOSED ST BETWEEN BLKS 2 & 3
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1928
Floors in Building
1
Building materials
Block
Roof type
Membrane, Shingle
Additional Structures
Storage
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Mary Grantham · License #3343962
(813) 484-9520
Added: Jul 5
Changed: Aug 24
Last Checked: Aug 26 at 3:06AM
MLS# TB8525814
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 3.53-acre mixed-use commercial property includes 10,358 square feet across three buildings. The improvements include an operating liquor store with storage rooms and a restroom, an attached approximately 6,700-square-foot space with two restrooms, and a fenced 60-unit storage building with a separate entrance. The attached space was previously configured as a bar or nightclub and is currently leased, while the liquor store has approximately 9 years remaining on its escalating payment lease.
The storage building contains 20 10-by-10 units and 40 5-by-10 units, with 45 units currently rented. The facility is not air conditioned. An oversized parking area serves the front buildings, and an open commercial-zoned field provides additional site area. The property is located on S Scenic Hwy (US 17), with reported Average Daily Traffic Volume of 8,000 to 12,000. Public electricity, water, and sewer are available, and the buildings feature block construction, central heating, central air, and membrane and shingle roofing.
The storage building contains 20 10-by-10 units and 40 5-by-10 units, with 45 units currently rented. The facility is not air conditioned. An oversized parking area serves the front buildings, and an open commercial-zoned field provides additional site area. The property is located on S Scenic Hwy (US 17), with reported Average Daily Traffic Volume of 8,000 to 12,000. Public electricity, water, and sewer are available, and the buildings feature block construction, central heating, central air, and membrane and shingle roofing.
Key Highlights
- 3.53‑acre mixed‑use property with 10,358 square feet across three buildings
- Operating liquor store with approximately 9 years remaining on an escalating payment lease
- Attached approximately 6,700‑square‑foot space with two restrooms and current lease in place
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
$68,999
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
7.08%
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%
$1,379,980
$1.4M
Cap Rate 7%
$985,700
$985.7K
Cap Rate 9%
$766,656
$766.7K
Market Conditions
NOI Build-Up for 10,358 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
$88.0K $8.50/SF
− Vacancy
−$6.9K −$0.66/SF
EGI
$81.2K $7.84/SF
− OpEx
−$12.2K −$1.18/SF
NOI
$69.0K $6.66/SF
Area
Polk County, FL
Vacancy
7.80%
Lease Rate
$8.50 /SF/Yr
Expense Ratio
15.00%
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%
$1,379,980
Cap Rate 7%
$985,700
Cap Rate 9%
$766,656
Alternative Uses
Best Use
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,669 @ 7.0% cap · market cap 13.81%
Second Best
Mixed Use
$1.67M
$1.46M – $1.94M
NOI $116,644 @ 7.0% cap · market cap 11.96%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,238 @ 7.0% cap · market cap 17.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 33843, FL
11,864
Population
5,930
Households
2
Avg Household Size
45
Median Age
15%
College-Educated
81%
High-School Grad
124.0 sq mi
ZIP Area
96
Density / Sq Mi
$51,358
Median Household Income
$28,857
Median Earnings
$864
Median Rent
$107,900
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial property combines a leased liquor store, former bar space, and fenced self-storage operation.
Where is this mixed-use property located?
The property is located at 540 S SCENIC Highway Frostproof, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3.53‑acre mixed‑use property with 10,358 square feet across three buildings; Operating liquor store with approximately 9 years remaining on an escalating payment lease; Attached approximately 6,700‑square‑foot space with two restrooms and current lease in place
