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    9035 Temple Dr Lake Wales, FL 33898

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    Sponsored
    For Sale
    $229,000

    Triplex - LAKE WALES, FL

    Type:Triplex
    Property size:
    1,652 SF
    Lot size:
    0.54 Acres
    Days on Market:
    21
    Last Refresh:
    Mar 19 at 2:06 pm

    Property Features for 9035 Temple Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Standard status
    Active
    Zoning
    R-3
    APN
    29-31-05-000000-023030
    Size
    1,652 SF
    Lot size
    0.54 Acres

    Utilities

    Heating system
    Ductless (Heating)
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)
    Water front features
    Canal Front, Waterfront
    Water front
    1

    Building Details

    Year built
    1989
    Number of units
    3
    Flooring type
    Wood
    Building materials
    Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Tania Bobe
    Tania Bobe

    LPT Realty, LLC. (877) 366-2213

    Listing agent Tania Bobe (877) 366-2213 License #3342106

    Listing date Feb 26, 2026

    MLS# P4937132 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

    Triplex with Canal Frontage

    This 0.54-acre multi-family property features three units and the infrastructure to add a fourth. It has 164 feet of canal frontage with direct access to the 7,500-acre Lake Walk-In-Water. The property is zoned R-3. Two units (A and C) are currently occupied and generate $2,075 per month ($24,900 per year), with tenants paying their own utilities. Unit B is vacant. The property offers multiple strategies, including a value-add investment, a waterfront living arrangement, or a multi-generational retreat. Unit B is a 1975 concrete block apartment featuring a kitchenette and a private dock. The property is located at the end of a private, dead-end street. It is situated just three blocks from the public boat ramp. The property has multiple docks and direct canal access. The property contains 1,652 square feet and is located in LAKE WALES, FL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Map

    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.439662
    Latitude
    27.810934

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    FAQs

    What type of property is this?
    Triplex - Three-unit multifamily property with canal frontage and lake access.
    Where is this triplex located?
    The property is located at 9035 Temple Dr Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $229,000.
    What are key features of this property?
    This property features: - Direct canal access to 7,500-acre Lake Walk-In-Water, renowned for trophy bass fishing.; - Significant $229,000 price reduction.; - Three existing units with infrastructure to add a fourth, offering versatile investment potential.
    (863) 270-2138
    Request Owner's contact information
    9035 Temple Dr Lake Wales, FL 33898
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    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
    9035 Temple Dr Lake Wales, FL 33898
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    We can help!
    Listing Contact
    Tania Bobe
    Tania Bobe
    Real Estate License ID: 3342106
    (863) 270-2138 (877) 366-2213 (863) 270-8484
    Learn more
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