Multi-Building Retail and Storage
For Sale
$975,000
540 S Scenic Hwy, Frostproof, FL 33843
Three income-producing buildings sit on a fenced storage yard with a 60-unit self-storage facility and operating liquor store.
Property Size10,358 SF
Lot Size3.53 Acres
Price / SF$94.13
Days on Market106
Property Features for 540 S Scenic Hwy
General Information
Standard status
Active
Size
10,358 SF
Lot size
3.53 Acres
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Year Built
1928
Listing Agency:
CHARLES RUTENBERG REALTY INC
Listed By:
Mary Grantham · License #3343962
(813) 516-8221
Source:
Livewelltampabay
Added: Jul 8
Changed: Oct 6
Last Checked: Oct 21 at 2:14AM
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 CHARLES RUTENBERG REALTY INC
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Investment Insights
Based on property information with market context.
The property is a multi-building commercial site on a 3.53-acre lot featuring three distinct businesses. A fully operating liquor store includes many storage rooms and a restroom, and it is subject to an approximately 9-year remaining lease with escalating payments. An attached building with a dividing wall is currently leased, includes two restrooms, and is approximately 6,700 square feet, with prior bar/nightclub use described in the remarks. In addition, the fenced, 60-unit storage building is located in the rear with its own separate entrance; 45 units are currently rented, and the facility is not air conditioned.
The site provides customer parking in front and includes an open field that is described as zoned commercial for additional storage units, another business, or additional parking. Exposure is supported by the property’s location off a busy highway, with the remarks citing average daily traffic volume on S Scenic Hwy (US 17).
Unit mix is described as 20- 10x10 units and 40- 5x10 units. The storage building has steady producing income, with additional upside discussed in the remarks; all measurements are approximate.
The site provides customer parking in front and includes an open field that is described as zoned commercial for additional storage units, another business, or additional parking. Exposure is supported by the property’s location off a busy highway, with the remarks citing average daily traffic volume on S Scenic Hwy (US 17).
Unit mix is described as 20- 10x10 units and 40- 5x10 units. The storage building has steady producing income, with additional upside discussed in the remarks; all measurements are approximate.
Key Highlights
- 3.53‑acre commercial property off S Scenic Hwy (US 17) with 3 buildings/businesses on‑site
- Operating liquor store included with an approximately 9‑year remaining lease term with escalating payments
- Additional building formerly used as a bar/nightclub (~6,700 SF) with dividing wall and two restrooms; leased with ~2.5 years left
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,999
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
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
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 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
Retail
$1.66M
$1.45M – $1.94M
NOI $116,320 @ 7.0% cap · market cap 11.93%
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.
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
Yes
Liquor license
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
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - Three income-producing buildings sit on a fenced storage yard with a 60-unit self-storage facility and operating liquor store.
Where is this self storage facility located?
The property is located at 540 S Scenic Hwy 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 commercial property off S Scenic Hwy (US 17) with 3 buildings/businesses on‑site; Operating liquor store included with an approximately 9‑year remaining lease term with escalating payments; Additional building formerly used as a bar/nightclub (~6,700 SF) with dividing wall and two restrooms; leased with ~2.5 years left
