233 9Th StHaines City, FL 33844

Property Details for 233 9Th St

Lot size

0.03 AC

Property type

Land

Property subtype

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.

• Alternative Use

  Use

  Valuation

  Residential

  $499,789

  Hospitality

  $457,804

  Educational

  $380,888

  Medical

  $393,987

  Retail

  $592,492

Location Insight

City

Haines City

County

Polk

State

Florida

Latitude

28.1106

Longitude

-81.6244

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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