Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5870 Skokie Rd Lake Wales, FL 33898

    Sponsored
    For Sale
    Pending
    $199,900

    Land - LAKE WALES, FL

    Lot size:
    7.19 Acres
    Days on Market:
    21
    Last Refresh:
    Feb 7 at 9:06 am

    Property Features for 5870 Skokie Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    RC
    APN
    28-29-07-936650-000541
    Lot size
    7.19 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Heather Sandlin

    eXp Realty LLC (888) 883-8509

    Listing agent Heather Sandlin (866) 308-7109 License #3477812

    Listing date Jan 18, 2026

    MLS# TB8381277 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Vacant Land in Lake Wales

    This 7.19-acre vacant land parcel is located in Lake Wales. Situated on Skokie Road, the property offers privacy, natural beauty, and accessibility. The land is surrounded by rolling hills and citrus groves along the Lake Wales Ridge. It is located minutes from the historic downtown district, Bok Tower Gardens, and the recreational amenities of Lake Wales Park. With access to US-27 and SR-60, Tampa, Orlando, and other Central Florida attractions and job centers are within easy reach. The property has two entrances. The land is zoned RC. It offers the opportunity to build a home or invest in the community. The location provides a relaxed, small-town lifestyle with nearby charter schools, local festivals, and outdoor activities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Hotel & Motel Kitchen & Bath Showroom Food Market Grocery & Convenience Store Plumbing Service Pet Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.555515
    Latitude
    27.983332

    Nearby Similar for Sale

    • $1,650,000
      8,480 SF

      Historic Mixed-Use Building in Downtown

      Mixed-use building with commercial suites and residential apartments in downtown.
      244 E Park Ave, Lake Wales, FL 33853
      View Details
    • $1,650,000
      8,480 SF

      Historic Mixed-Use Building in Lake Wales

      Historic mixed-use building with commercial suites and residential apartments.
      244 E Park Ave, Lake Wales, FL 33853
      View Details
    • $900,000
      7,350 SF

      Mixed-Use Buildings on Scenic Highway

      Two commercial buildings ideal for showroom, warehouse, or mixed-use.
      322 S Scenic Hwy, Lake Wales, FL 33853
      View Details
    • $824,900
      4,264 SF

      Lakefront Multi-Family Income Property

      Lakefront 6-unit property in Highland Park with income generation.
      1854 Highland Park Dr S, Lake Wales, FL 33898
      View Details
    • $285,000
      Pending

      Duplex in Convenient Lake Wales

      Duplex with new paint, close to amenities and Lake Wailes.
      415 E Polk Ave, Lake Wales, FL 33853
      View Details
    • $5,500,000
      2,304 SF

      Profitable Gas Station & Truck Stop

      Turnkey gas station and truck stop on 5.22 acres.
      16311 Us Highway 27, Lake Wales, FL 33853
      View Details
    • $69,900
      0.09 Acres

      Resort RV Lot in Lake Wales

      RV lot at Resort at Canopy Oaks with luxury amenities.
      Highway 630 E, Lake Wales, FL 33898
      View Details
    • New
      $254,000
      1,652 SF

      Canal Front Lake Wales Triplex

      Multifamily property near Lake Walk-In Water with value-add opportunity.
      9035 Temple Dr, Lake Wales, FL 33898
      View Details
    • New
      $550,000
      1,674 SF

      Furnished Restaurant in Lake Wales

      Fully equipped restaurant for sale in downtown Lake Wales, Florida.
      114 W Central Ave, Lake Wales, FL 33853
      View Details
    • $199,500
      0.09 Acres

      RV Lot in River Ranch

      Luxury RV lot with amenities and access to Lake Kissimmee.
      376 Bear Trl, River Ranch, FL 33867
      View Details
    • $159,000
      0.06 Acres

      RV Resort Lot with Pavilion

      RV resort lot with pavilion, amenities, and income potential.
      253 Saddle Ln, River Ranch, FL 33867
      View Details
    • $1,250,000
      8,500 SF

      Income-Producing Property with Growth Potential

      Commercially zoned property with hotel, restaurant, and expansion possibilities.
      16905 Hwy 27, Lake Wales, FL 33859
      View Details

    FAQs

    What type of property is this?
    Land - 7.19 acres of vacant land in the heart of Lake Wales.
    Where is this land located?
    The property is located at 5870 Skokie Rd Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $199,900.
    What are key features of this property?
    This property features: - 7.19 acres of vacant land, ideal for building a dream home or investment.; - Located in Lake Wales, a charming and scenic Central Florida community.; - Convenient access to US-27 and SR-60, providing easy access to Tampa, Orlando, and other Central Florida locations.
    (859) 391-8485
    Request Owner's contact information
    5870 Skokie Rd Lake Wales, FL 33898
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5870 Skokie Rd
    Lake Wales, FL 33898
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5870 Skokie Rd Lake Wales, FL 33898
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Heather Sandlin
    Real Estate License ID: 3477812
    (859) 391-8485
    Learn more
    Google sign-in failed. Please try again or use another login method.