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    Property profile & analytics

    215 N Scenic Hwy Frostproof, FL 33843

    • Office buildings
    • 2,900 SF
    • 0.18 lot acres
    For Sale
    View listing
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5448254
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 215 N Scenic Hwy

    Year built
    1980
    Lot size
    0.18 lot acres
    Property size
    2,900 SF
    Property type
    Office buildings
    APN
    283132968200004013
    APU
    283132968200004013

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $635,000
      6.5%
      $585,000
      7%
      $545,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $710,000
      Market price range: $376k - $1.19M
      AI Estimate
      $509,000
      Market price range: $279k - $709k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $715,000
      Current use
      MEDICAL BUILDING
      $895,000
      Change: +25% Conversion: Easy
      COMMERCIAL (GENERAL)
      $820,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $705,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Frostproof
    County
    Polk
    State
    Florida
    Longitude
    -81.5309
    Latitude
    27.7479
    CBSA code
    29460
    CBSA name
    LAKELAND, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,823
    $17,694
    $194,378
    $212,072
    -
    $17,694
    $194,378
    $212,072

    Comparable in this City

    • Value Estimation
      $1,890,000
      8,384 SF

      111 1st St

      OFFICE BUILDING • 8,384 SF
      111 1st St, Frostproof, FL 33843-2003
      View Details
    • Value Estimation
      $650,000
      3,200 SF

      205 Scenic Hwy Ste, Unit 100

      OFFICE BUILDING • 3,200 SF
      205 Scenic Hwy Ste, Frostproof, FL 33843-2158
      View Details
    • Value Estimation by Request
      1,081 SF

      10 Scenic Hwy

      OFFICE BUILDING • 1,081 SF
      10 Scenic Hwy, Frostproof, FL 33843-2116
      View Details
    • Value Estimation
      $550,000
      2,200 SF

      749 Scenic Hwy

      OFFICE BUILDING • 2,200 SF
      749 Scenic Hwy, Frostproof, FL 33843-1622
      View Details
    • Value Estimation by Request
      2,160 SF

      6603 Hwy 27us

      OFFICE BUILDING • 2,160 SF
      6603 Hwy 27us, Frostproof, FL 33843-8377
      View Details
    • Value Estimation
      $820,000
      3,360 SF

      Hwy 630th E

      OFFICE BUILDING • 3,360 SF
      Hwy 630th E, Frostproof, FL 33843
      View Details

    Similar Nearby for Sale

    • $1,800,000

      Frostproof Industrial Compound For Sale

      14.5-acre industrial property with multiple buildings and strategic location.
      321 Davis Bros Rd, Frostproof, FL 33843
      View Details
    • New
      $119,900
      1,976 SF

      Historic Downtown Frostproof Office Building

      Historic mixed-use office building in Frostproof's main business district.
      22 E Wall St, Frostproof, FL 33843
      View Details
    • $250,000
      3,512 SF

      Mixed-Use Income Opportunity

      Partially rented mixed-use property with high-exposure frontage.
      215 N Scenic Hwy, Frostproof, FL 33843
      View Details
    • $375,000
      3,130 SF

      Versatile Commercial Property in Frostproof

      Income-producing property with established tenants and redevelopment potential.
      207 N Scenic Hwy, Frostproof, FL 33843
      View Details
    • $275,000

      Downtown Frostproof Building with Potential

      Charming, well-maintained building in downtown Frostproof with versatile zoning.
      225 N Scenic Hwy, Frostproof, FL 33843
      View Details
    • $275,000
      838 SF

      Downtown Frostproof Building with Potential

      Charming building in downtown Frostproof with versatile zoning.
      225 N Scenic Hwy, Frostproof, FL 33843
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      53,400 SF

      Frostproof Industrial Space Available

      53,400 SF Warehouse & Cold Storage
      780 Scenic Hwy, Frostproof, FL 33843
      View Details
    • Contact for pricing

      Frostproof Commercial Land Opportunity

      6.23 Acres, Prime Polk County Location
      0 State Hwy 630, Frostproof, FL 33843
      View Details
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    Frostproof, FL 33843
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    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
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