Auto Shop with Covered
For Sale
$450,000
133 W STUART Avenue, Lake Wales, FL 33853
Commercial Sale, LAKE WALES, FL
Property Size2,136 SF
Lot Size0.17 Acres
Price / SF$210.67
Days on Market657
Property Features for 133 W STUART Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Subdivision
CARY WALTERS SUB
Lot features
City Limits, Sidewalk
Directions
From Highway 27, go East on Central, North on M L King Blvd then East on Stuart, see building on right. Or from Scenic, go West on Central, North on 1st, West on Stuart and building on left.
Standard status
Active
APN
27-30-02-908000-001201
Size
2,136 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CARY WALTERS SUB PB 7 PG 5 BLK 1 LOTS 20 THAT PART DESC AS BEG .5 FT N OF SE COR RUN W .67 FT NLY 87.5 FT E .18 FT S TO POB & 21 THRU 23
Tax Annual Amount
1453
Legal Description
CARY WALTERS SUB PB 7 PG 5 BLK 1 LOTS 20 THAT PART DESC AS BEG .5 FT N OF SE COR RUN W .67 FT NLY 87.5 FT E .18 FT S TO POB & 21 THRU 23
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Water source
Public
Amenities
reception area
office
bathroom
garage space
roll-up door
covered carport
concrete pavement
Building Details
Year built
1958
Flooring type
Concrete, Tile - Ceramic
Building materials
Block, Concrete
Roof type
Membrane
Additional Structures
Outbuilding
Listing Agency:
LEGACY REAL ESTATE CENTER INC
(863) 676-0200
Listed By:
Vicky Holloway · License #3279441
(863) 557-9003
Added: Nov 22, 2024
Changed: Aug 25
Last Checked: Sep 10 at 12:06AM
MLS# K4902707
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 2,136-square-foot auto shop occupies a 0.17-acre parcel at 133 W Stuart Avenue in Lake Wales. The building includes a reception area, dedicated office, bathroom, and more than 1,500 square feet of adaptable workspace. An attached garage adds over 400 square feet and includes a roll-up door. The property also provides a covered 1,000-square-foot area beneath a 14-foot-high carport, with concrete pavement and perimeter protection from fencing and walls on two sides.
Constructed in 1958, the block-and-concrete property has ceramic tile and concrete flooring, a membrane roof, public water, public sewer, and electricity available. Its downtown Lake Wales setting is near Highway 27, with the property address in ZIP Code 33853. C-2 zoning and the existing automotive-oriented configuration support continued evaluation for shop, service, or related commercial use, subject to applicable approvals.
Constructed in 1958, the block-and-concrete property has ceramic tile and concrete flooring, a membrane roof, public water, public sewer, and electricity available. Its downtown Lake Wales setting is near Highway 27, with the property address in ZIP Code 33853. C-2 zoning and the existing automotive-oriented configuration support continued evaluation for shop, service, or related commercial use, subject to applicable approvals.
Key Highlights
- 2,136‑square‑foot auto shop on a 0.17‑acre parcel
- More than 1,500 square feet of flexible workspace
- Attached garage with over 400 square feet and a roll‑up door
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
$23,987
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
5.33%
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%
$479,740
$479.7K
Cap Rate 7%
$342,671
$342.7K
Cap Rate 9%
$266,522
$266.5K
Market Conditions
NOI Build-Up for 2,136 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
$37.2K $17.40/SF
− Vacancy
−$2.9K −$1.36/SF
EGI
$34.3K $16.04/SF
− OpEx
−$10.3K −$4.81/SF
NOI
$24.0K $11.23/SF
Area
Polk County, FL
Vacancy
7.80%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$479,740
Cap Rate 7%
$342,671
Cap Rate 9%
$266,522
Alternative Uses
Best Use
Retail
$342.7K
$299.8K – $399.8K
NOI $23,987 @ 7.0% cap · market cap 5.33%
Second Best
Flex RnD
$164.2K
$143.7K – $191.6K
NOI $11,496 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$513.3K
$449.1K – $598.9K
NOI $35,931 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,004
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - C-2-zoned facility with reception, office, restroom, workshop, garage, and covered vehicle work areas.
Where is this auto shop located?
The property is located at 133 W STUART Avenue Lake Wales, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,136‑square‑foot auto shop on a 0.17‑acre parcel; More than 1,500 square feet of flexible workspace; Attached garage with over 400 square feet and a roll‑up door
