Mixed-Use Property with
For Sale
$2,790,000
126 STATE ROAD 60 W, Lake Wales, FL 33853
Commercial Sale, LAKE WALES, FL
Property Size19,632 SF
Lot Size1.94 Acres
Price / SF$142.11
Days on Market124
Property Features for 126 STATE ROAD 60 W
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
PF
Subdivision
TWIN LAKE PARK SUB
Directions
Head toward Hesperides Rd, Turn left onto FL-60, In 0.4 mi turn right, Turn left, in 187 ft destination will be on the right.
Standard status
Active
APN
27-30-02-903500-008404
Size
19,632 SF
Lot size
1.94 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TWIN LAKE PARK SUB PB 3 PG 8 BLK 8 S 245 FT OF 4 LESS W 125 FT OF S 5 FT OF N 145 FT & LESS R/W FOR SR 60
Tax Annual Amount
30290
Legal Description
TWIN LAKE PARK SUB PB 3 PG 8 BLK 8 S 245 FT OF 4 LESS W 125 FT OF S 5 FT OF N 145 FT & LESS R/W FOR SR 60
Utilities
Cooling system
Central Air
Amenities
on-site bathroom
dedicated break room
Building Details
Year built
1988
Floors in Building
1
Building materials
Concrete
Listing Agency:
COLDWELL BANKER REALTY · Coldwell Banker Real Estate
(863) 294-7541
Listed By:
Erin Floyd · License #3212218
(863) 412-2286
Added: May 4
Changed: Aug 24
Last Checked: Sep 4 at 9:06AM
MLS# P4938614
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial showroom, multiple private offices, a rear warehouse, and a separate residential home. The main building provides an open display area for merchandise, along with an on-site bathroom and break room. Phase 3 electricity and central air support the existing commercial improvements, while concrete construction dates to 1988.
The property encompasses 1.94 acres with 19,632 square feet of total property size and fronts State Road 60 in Lake Wales. Its position along the roadway provides direct exposure and access, with local businesses, retail centers, and residential communities in the surrounding area. The additional land behind the primary structure may accommodate future expansion, parking, storage, or redevelopment, subject to applicable approvals.
The property encompasses 1.94 acres with 19,632 square feet of total property size and fronts State Road 60 in Lake Wales. Its position along the roadway provides direct exposure and access, with local businesses, retail centers, and residential communities in the surrounding area. The additional land behind the primary structure may accommodate future expansion, parking, storage, or redevelopment, subject to applicable approvals.
Key Highlights
- 19,632 square feet of property size on 1.94 acres
- Commercial showroom with multiple private offices
- Rear warehouse for storage and distribution functions
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$221,081
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,421,620
$4.4M
Cap Rate 7%
$3,158,300
$3.2M
Cap Rate 9%
$2,456,456
$2.5M
Market Conditions
NOI Build-Up for 19,632 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$388.7K $19.80/SF
− Vacancy
−$35.0K −$1.78/SF
EGI
$353.7K $18.02/SF
− OpEx
−$132.6K −$6.76/SF
NOI
$221.1K $11.26/SF
Area
Polk County, FL
Vacancy
9.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,421,620
Cap Rate 7%
$3,158,300
Cap Rate 9%
$2,456,456
Alternative Uses
Best Use
Mixed Use
$3.16M
$2.76M – $3.68M
NOI $221,081 @ 7.0% cap · market cap 7.92%
Second Best
Retail
$3.15M
$2.76M – $3.67M
NOI $220,467 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$4.72M
$4.13M – $5.50M
NOI $330,242 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Showroom, offices, rear warehouse, and a separate residence create a flexible commercial configuration.
Where is this mixed-use property located?
The property is located at 126 STATE ROAD 60 W Lake Wales, FL.
What is the asking price?
The asking price for this property is $2,790,000.
What are key features of this property?
This property features: 19,632 square feet of property size on 1.94 acres; Commercial showroom with multiple private offices; Rear warehouse for storage and distribution functions
