Office Property with On-Site
For Sale
$575,000
700 AVENUE B, Winter Haven, FL 33880
Move-in ready office property zoned RP, with multiple work areas, break room kitchen, and on-site parking for at least 14 vehicles.
Property Size2,227 SF
Price / SF$258.19
Days on Market294
Property Features for 700 AVENUE B
General Information
Standard status
Active
Size
2,227 SF
Total Parking Spaces
14
Property subtype
Office
Zoning
RP
Taxes and HOA fees
Annual Taxes
$2,910
Amenities
Central Air
3
City Road, Asphalt.
Building Details
Year Built
1950
Listing Agency:
CENTURY 21 MYERS REALTY
(863) 875-5656
Listed By:
Claudette Biaggi · License #3601609
Source:
Xome
Added: Oct 21, 2025
Changed: Aug 8
Last Checked: Aug 9 at 5:35AM
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 CENTURY 21 MYERS REALTY
Investment Insights
Based on property information with market context.
Move-in ready office property available for sale, currently under contract with backup offers accepted. The interior features two private offices, three large open work areas, and a break room with a full kitchen. The space includes three restrooms and ample storage, with accessibility features throughout.
Zoned RP (Residential-Professional), the property provides flexibility for professional offices, medical or wellness practices, studios, or light retail. On-site parking accommodates at least 14 vehicles, and the building has existing signage for visibility. The property is within the Winter Haven CRA district boundaries and is located just minutes from Downtown Winter Haven, major hospitals, dining, and major roadways.
Zoned RP (Residential-Professional), the property provides flexibility for professional offices, medical or wellness practices, studios, or light retail. On-site parking accommodates at least 14 vehicles, and the building has existing signage for visibility. The property is within the Winter Haven CRA district boundaries and is located just minutes from Downtown Winter Haven, major hospitals, dining, and major roadways.
Key Highlights
- Move‑in ready office property zoned RP (Residential‑Professional) in the Winter Haven CRA district boundaries
- Layout includes 2 private offices, 3 large open work areas, and a break room with a full kitchen
- 3 restrooms plus ample storage throughout the building
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
$27,984
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
4.87%
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%
$559,680
$559.7K
Cap Rate 7%
$399,771
$399.8K
Cap Rate 9%
$310,933
$310.9K
Market Conditions
NOI Build-Up for 2,227 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
$52.1K $23.40/SF
− Vacancy
−$5.5K −$2.46/SF
EGI
$46.6K $20.94/SF
− OpEx
−$18.7K −$8.38/SF
NOI
$28.0K $12.57/SF
Area
Polk County, FL
Vacancy
10.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
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%
$559,680
Cap Rate 7%
$399,771
Cap Rate 9%
$310,933
Alternative Uses
Best Use
Healthcare Medical
$399.8K
$349.8K – $466.4K
NOI $27,984 @ 7.0% cap · market cap 4.87%
Second Best
Office B
$390.8K
$342.0K – $456.0K
NOI $27,359 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$535.2K
$468.3K – $624.4K
NOI $37,462 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,378
Businesses Nearby
Explore this area
Business Placement
Demographics for 33880, FL
42,005
Population
17,055
Households
2.5
Avg Household Size
38
Median Age
17%
College-Educated
84%
High-School Grad
32.4 sq mi
ZIP Area
1,296
Density / Sq Mi
$56,803
Median Household Income
$35,051
Median Earnings
$1,128
Median Rent
$200,900
Median Home Value
Market
Vacancy Rate% for Office 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?
Office building - Move-in ready office property zoned RP, with multiple work areas, break room kitchen, and on-site parking for at least 14 vehicles.
Where is this office building located?
The property is located at 700 AVENUE B Winter Haven, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Move‑in ready office property zoned RP (Residential‑Professional) in the Winter Haven CRA district boundaries; Layout includes 2 private offices, 3 large open work areas, and a break room with a full kitchen; 3 restrooms plus ample storage throughout the building
