Building Details

Buildings 1

Building Size 1,200 SF

Tenancy Single

Owner Occupied No

Listing Agency: florida realty investments

Listed By: Sujata Katikala · License #FL BK3057328 Show Phone

Source: Crexi

Added: Sep 12 Changed: Oct 25 Last Checked: Nov 3 at 5:39AM

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Investment Insights

Based on property information with market context.

This standalone office building contains 1,200 square feet under roof, configured with a large open hall, a small kitchen, and one bathroom. The property also includes showroom space and more than one acre of private land, with eight parking spaces and direct ingress into the parking area.

The building is fully occupied by a tenant, who is in place at closing. The property will be conveyed as-is, and the new owner must honor the existing lease. There is no COA associated with the property.

Key Highlights

• 1,200 SF standalone office and showroom building
• More than one acre of private land
• Fully occupied by a tenant at closing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,742

Cap Rate

5.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$294,840 $294.8K

Cap Rate 7%

$210,600 $210.6K

Cap Rate 9%

$163,800 $163.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$25.2K $21.00/SF

− Vacancy

−$5.5K −$4.62/SF

EGI

$19.7K $16.38/SF

− OpEx

−$4.9K −$4.10/SF

NOI

$14.7K $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 Rate 5%

$294,840

Cap Rate 7%

$210,600

Cap Rate 9%

$163,800

Alternative Uses

Best Use

Office B

$210.6K

$184.3K – $245.7K (±1% cap)

NOI $14,742 @ 7.0% cap · market cap 5.90%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$288.4K

$252.3K – $336.4K (±1% cap)

NOI $20,186 @ 7.0% cap · market cap 8.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Discount Store Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 33841, FL

7,439

Population

3,776

Households

2

Avg Household Size

40

Median Age

9%

College-Educated

77%

High-School Grad

168.4 sq mi

ZIP Area

44

Density / Sq Mi

$39,608

Median Household Income

$35,374

Median Earnings

$860

Median Rent

$138,700

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Occupied office and showroom property with private land, on-site parking, and a simple interior layout.

Where is this office building located?

The property is located at 6588 Lake Buffum Rd N Fort Meade, FL.

What is the asking price?

The asking price for this property is $249,900.

What are key features of this property?

This property features: 1,200 SF standalone office and showroom building; More than one acre of private land; Fully occupied by a tenant at closing