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    FOR SALE
    Office buildings

    215 N Scenic Hwy, Frostproof, FL 33843

    2,900 SF 0.18 ac lot Built 1980
    Individually Owned 23-yr Hold Free & Clear
    Property ID
    US18-5448254
    Property summary
    AI-generated overview

    This exceptional mixed-use commercial property, located at 215 N Scenic Highway in Frostproof, Florida, presents a lucrative investment opportunity. The property boasts 3,512 square feet situated on a 0.18-acre lot with prominent Scenic Highway frontage, ensuring high visibility. The property comprises two buildings, totaling seven rental units under one roof. One building, constructed of concrete block, offers 612 square feet and previously served as an office space, featuring a reception area, two private offices, and a bathroom. The second building, a 2,900-square-foot metal structure, is currently divided into five separate rental spaces. Each of these five units includes its own handicap-accessible unisex restroom, independent power and water meters, and wall-unit AC and heating systems. Ample parking is available, including designated handicap spaces, and a convenient outdoor courtyard. City water, sewer, and electricity are connected to each unit. The buildings were brought up to code in 2013, with further updates completed in 2022. The property is zoned Commercial General (GC), allowing for diverse uses such as adult day care, assisted living, childcare, business offices, medical facilities, fitness centers, clinics, or florists. The property generates a potential monthly income of $2,500 when fully occupied. Cash buyers only. An on-site visit by the buyer is required before submitting an offer.

    Property profile
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1980
    Total area 2,900 SF
    Lot 0.18 ac (7,863 SF)
    APN 283132968200004013
    UPID US18-5448254
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $365k
    CAP Approach CAP
    $585k
    Comparable Approach Comparable
    $711k
    Blend (final) Blend
    $540k
    Owner & transaction history
    Randy L Scott · 23 yrs held
    Randy L Scott
    since 2002
    1 recorded transaction
    2002
    $20,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Medical building $895,000 +25.5%
    Commercial (general) $820,000 +14.9%
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    More about this property
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