Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3Rd St Polk City, FL 33868

    • Land
    • 6,251 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 3Rd St

    Lot size
    0.14 lot acres
    Property size
    6,251 SF
    Property type
    Land
    Property subtype
    Apartment buildings

    Description

    This exceptional 0.14-acre lot in Polk City, Florida (APN: 25-26-32-296000-005040), presents a unique investment opportunity. Zoned R-4 Mixed Residential, this property allows for a variety of uses, including single-family homes, duplexes, apartments, townhouses, and condominiums. The 6,251 square foot lot is ideally situated for multifamily development, offering convenient access to I-4 and the Polk Parkway, placing it strategically between Tampa and Orlando. The property boasts a high and dry location, eliminating flood zone concerns. Development plans must adhere to specified setbacks: 30 feet front, 15 feet left (due to a 15-foot county drainage easement), 10 feet right, and 20 feet rear. Note that the drainage easement on the left side of the property must remain unobstructed. Public water is available

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Polk City
    County
    Polk
    State
    Florida
    Longitude
    -81.8322
    Latitude
    28.1817

    Comparable in this City

    • Value Estimation by Request
      52.00 Acres

      6870 Jeanette Ln

      Land • 52.00 Acres
      6870 Jeanette Ln, Polk City, FL 33868
      View Details
    • Value Estimation by Request
      40.13 Acres

      18150 Commonwealth Ave

      Farms • 40.13 Acres
      18150 Commonwealth Ave, Polk City, FL 33868
      View Details
    • Value Estimation by Request
      18.69 Acres

      627 Citrus Grove Blvd

      Land • 18.69 Acres
      627 Citrus Grove Blvd, Polk City, FL 33868
      View Details
    • Value Estimation by Request

      Commonwealth Ave

      Land
      0 Commonwealth Ave, Polk City, FL 33868
      View Details
    • Value Estimation by Request
      0.29 Acres

      1 St

      Land • 0.29 Acres
      0 1 St, Four Corners, FL 33868
      View Details
    • Value Estimation by Request

      527 Commonwealth Ave

      Land
      527 Commonwealth Ave, Polk City, FL 33868
      View Details

    Similar Nearby for Sale

    • $103,000
      0.14 Acres

      Oversized Lot in Mount Olive Shores

      Class A motorhome lot with shed and utility hookups.
      8933 Southshore Ct, Polk City, FL 33868
      View Details
    • $179,900

      RV Lot in Gated Community

      RV lot in 55+ gated community with amenities.
      1064 Caravan Loop, Polk City, FL 33868
      View Details
    • Contact for pricing

      Polk City Land Opportunity

      Land available in Polk City, Florida, with development potential.
      Polk City, Polk City, FL 33868
      View Details
    • $169,000

      Polk City Land For Sale

      Land available in Polk City, Florida.
      1052 Caravan Loop, Polk City, FL 33868
      View Details
    • $114,900

      Residential Lot in 55+ Community

      Residential lot in 55+ RV community, Polk City, Florida.
      768 Teaberry Trl, Polk City, FL 33868
      View Details
    • $299,000

      Paver Pad with Garage Casita

      Paver pad with garage casita in Class A motorcoach resort.
      3247 Red Tail Hawk Dr, Polk City, FL 33868
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      501,000 SF

      Prime Polk County Warehouse Space

      501,000 SF Class A Warehouse, Multi-Tenant
      5900 Mount Olive Rd, Polk City, FL 33868
      View Details
    • $12 SF/Yr
      2,038 SF

      Retail Space in Polk City

      Neighborhood shopping center near I-4 in Polk City, Florida.
      120 Carter Blvd, Polk City, FL 33868
      View Details
    • Contact for pricing
      1,010,800 SF

      Midway Logistics Center: Lakeland, FL

      Class A industrial space for lease.
      8910 State Road 33, Lakeland, FL 33868
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3Rd St
    Polk City, FL 33868
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.