Tenant-Occupied
For Sale
$399,000
980 S LAKE SHORE Way, Lake Alfred, FL 33850
Commercial Sale, LAKE ALFRED, FL
Property Size2,506 SF
Lot Size0.48 Acres
Price / SF$159.22
Days on Market200
Property Features for 980 S LAKE SHORE Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Subdivision
ROCHELLE TERRACE
Lot features
Sidewalk, Street Lights, Paved
Directions
Heading east on US Hwy 92 continue until road becomes US Hwy 17/ S Lake Shore Way. Destination will be on your right at the corner of Mackay Blvd.
Standard status
Active
APN
26-28-05-525000-003070
Size
2,506 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ROCHELLE TERRACE PB 8 PG 44 BLK 3 LOTS 7 & 8 LESS ST RD 600
Tax Annual Amount
1647
Legal Description
ROCHELLE TERRACE PB 8 PG 44 BLK 3 LOTS 7 & 8 LESS ST RD 600
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Building materials
Frame
Roof type
Metal
Listing Agency:
CENTURY 21 MYERS REALTY · Century 21 Real Estate
(863) 875-5656
Listed By:
Tony Acosta · License #3589261
(863) 224-5956
Added: Mar 25
Changed: Oct 9
Last Checked: Oct 10 at 3:06AM
MLS# S5145068
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 2,506-square-foot triplex contains three residential units that are currently occupied by tenants. The frame-built property dates to 1920 and includes a metal roof, ductless heating, window and wall/window cooling units, public water, and public sewer.
The 0.48-acre site is positioned at 980 S Lake Shore Way in Lake Alfred, along a divided highway through the city’s central corridor. C-1 zoning and the property’s placement near local businesses, dining, and community amenities provide a commercial setting for continued residential occupancy or future planning, subject to applicable approvals.
The 0.48-acre site is positioned at 980 S Lake Shore Way in Lake Alfred, along a divided highway through the city’s central corridor. C-1 zoning and the property’s placement near local businesses, dining, and community amenities provide a commercial setting for continued residential occupancy or future planning, subject to applicable approvals.
Key Highlights
- Three tenant‑occupied residential units
- 2,506 square feet on 0.48 acres
- C‑1 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,571
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,420
$531.4K
Cap Rate 7%
$379,586
$379.6K
Cap Rate 9%
$295,233
$295.2K
Market Conditions
NOI Build-Up for 2,506 SF
Gross rent
$40.6K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$38.0K $15.15/SF
− OpEx
−$11.4K −$4.54/SF
NOI
$26.6K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,420
Cap Rate 7%
$379,586
Cap Rate 9%
$295,233
Alternative Uses
Best Use
Multifamily LT 5
$379.6K
$332.1K – $442.9K
NOI $26,571 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$339.1K
$296.7K – $395.6K
NOI $23,737 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$602.2K
$526.9K – $702.6K
NOI $42,155 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 33850, FL
9,119
Population
4,947
Households
1.8
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
16.8 sq mi
ZIP Area
543
Density / Sq Mi
$53,877
Median Household Income
$36,563
Median Earnings
$1,072
Median Rent
$215,700
Median Home Value
Check the figures for this property
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?
Triplex - Three-unit property with C-1 zoning, public utilities, and a prominent position along Lake Alfred’s central commercial corridor.
Where is this triplex located?
The property is located at 980 S LAKE SHORE Way Lake Alfred, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three tenant‑occupied residential units; 2,506 square feet on 0.48 acres; C‑1 zoning
