215 Scenic HwyFrostproof, FL 33843

Property Details for 215 Scenic Hwy

Year built

1980

Lot size

0.18 AC

Property size (Sq ft)

2,900 SF

Property type

Office properties

Property subtype

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.

• CAP approach

  CAP return

  Valuation

  6%

  $847,569

  6.5%

  $782,371

  7%

  $726,487

• Comparable approach

  Method

  Valuation

  Relative Method

  $594,509

  Geo Method

  $455,387

• Alternative Use

  Use

  Valuation

  Residential

  $970,140

  Hospitality

  $888,643

  Educational

  $739,341

  Medical

  $764,768

  Retail

  $1,150,085

Location Insight

City

Frostproof

County

Polk

State

Florida

Latitude

27.7479

Longitude

-81.5309

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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