233 9th St Haines City, FL 33844-4315

Property Details for 233 9th St

Lot size

0.03 lot acres

Property type

Commercial land

APN

272729783000073161

APU

272729783000073161

Description

This Haines City, Florida mixed-use property presents a compelling investment opportunity. The 11,230 square foot building, comprised of two structures built in 1955 and 1995, sits on a 0.91-acre lot and boasts a strong 10.42% current cap rate, projected to increase to 11.02%. The property is currently 100% occupied by three tenants, including the State of Florida, with leases extending until October 2026, May 2025, and June 2024, respectively. The main building, a 7,323 square foot masonry office building, features 688 square feet of unfinished storage accessible from inside or via a rear roll-up door. It was extensively renovated in 2007, creating two office units: one approximately 4,801 square feet (currently a funeral home) and another of approximately 3,210 square feet. A second building, originally a house, is attached and currently leased as an office/residence. The property also includes a covered carport and loading area, plus an additional approximately 0.3 acres across the street used for parking. The property's strong tenancy, consistent income stream, and value-add potential make it an attractive investment. An assumable note at 4.5% interest is available. The property is zoned Commercial/Industrial and features a 2-bed, 2-bath home. The asking price is $950,000, with a current NOI of $98,961 and a pro-forma NOI of $104,733. This property offers immediate cash flow and significant upside potential.