Furnished Short-Term Rental
For Sale
$197,500
708 GRAN BAHAMA BOULEVARD, Davenport, FL 33897
Fully furnished resort condo with permitted short-term rentals, updated appliances, and extensive recreational amenities.
Property Size1,173 SF
Price / SF$168.37
Days on Market8
Property Features for 708 GRAN BAHAMA BOULEVARD
General Information
Standard status
Active
Size
1,173 SF
Property subtype
Condo - Hotel
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Furnished
Yes
Highway Access
Yes
Amenities
heated pools
hot tubs
splash pad
tennis courts
basketball courts
pickleball courts
grilling areas
nature trails
beach/lakefront recreation area
fishing access
on-site dining
fitness facilities
screened wraparound balcony
Building Details
Year Built
2005
Listing Agency:
LPT REALTY LLC
(386) 204-6398
Listed By:
Jon Hall · License #3443187
(407) 840-2320
Source:
Dennisrealty
Added: Sep 14
Changed: Sep 20
Last Checked: Sep 21 at 6:38AM
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 LPT REALTY LLC
Investment Insights
Based on property information with market context.
This fully furnished condominium at Bahama Bay Resort offers 1,173 square feet with two bedrooms, two bathrooms, an open living and dining arrangement, and a fully equipped kitchen. A screened wraparound balcony adds substantial outdoor space, while recent improvements include a stainless steel dishwasher installed in 2026, a stainless steel refrigerator and washer from 2025, and HVAC replaced in 2021.
Short-term rentals are permitted, allowing the residence to be used as a vacation property or offered through platforms such as Airbnb and VRBO. The gated, manned resort includes 4 heated pools, 6 hot tubs, a splash pad, tennis, basketball and pickleball courts, grilling areas, nature trails, a private beach and lakefront recreation area, and fishing access on Lake Davenport. On-site dining, fitness facilities, and property management options are also available.
The property is near US-27 and I-4, with access to Walt Disney World, Universal, SeaWorld, golf, shopping, and dining in the Orlando area.
Short-term rentals are permitted, allowing the residence to be used as a vacation property or offered through platforms such as Airbnb and VRBO. The gated, manned resort includes 4 heated pools, 6 hot tubs, a splash pad, tennis, basketball and pickleball courts, grilling areas, nature trails, a private beach and lakefront recreation area, and fishing access on Lake Davenport. On-site dining, fitness facilities, and property management options are also available.
The property is near US-27 and I-4, with access to Walt Disney World, Universal, SeaWorld, golf, shopping, and dining in the Orlando area.
Key Highlights
- 1,173‑square‑foot fully furnished condo with 2 bedrooms and 2 bathrooms
- Screened wraparound balcony and fully equipped kitchen
- Short‑term rentals permitted through Airbnb, VRBO, and other platforms
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
$11,111
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
5.63%
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%
$222,220
$222.2K
Cap Rate 7%
$158,729
$158.7K
Cap Rate 9%
$123,456
$123.5K
Market Conditions
NOI Build-Up for 1,173 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
$21.5K $18.36/SF
− Vacancy
−$1.3K −$1.14/SF
EGI
$20.2K $17.22/SF
− OpEx
−$9.1K −$7.75/SF
NOI
$11.1K $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%
$222,220
Cap Rate 7%
$158,729
Cap Rate 9%
$123,456
Alternative Uses
Best Use
Apartment 5plus
$158.7K
$138.9K – $185.2K
NOI $11,111 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.9K
$246.7K – $328.9K
NOI $19,732 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 33897, FL
25,352
Population
13,291
Households
1.9
Avg Household Size
38
Median Age
28%
College-Educated
94%
High-School Grad
41.8 sq mi
ZIP Area
607
Density / Sq Mi
$73,457
Median Household Income
$36,154
Median Earnings
$1,880
Median Rent
$279,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Fully furnished resort condo with permitted short-term rentals, updated appliances, and extensive recreational amenities.
Where is this short term rental property located?
The property is located at 708 GRAN BAHAMA BOULEVARD Davenport, FL.
What is the asking price?
The asking price for this property is $197,500.
What are key features of this property?
This property features: 1,173‑square‑foot fully furnished condo with 2 bedrooms and 2 bathrooms; Screened wraparound balcony and fully equipped kitchen; Short‑term rentals permitted through Airbnb, VRBO, and other platforms
