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    E State Road 60 Lake Wales, FL 33898

    View on Map
    Sponsored
    Pending
    $2,995,000

    Land - LAKE WALES, FL

    Lot size:
    128.77 Acres
    Days on Market:
    22
    Last Refresh:
    Mar 18 at 12:06 pm

    Property Features for E State Road 60

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    RC
    APN
    29-30-14-000000-031010
    Pets allowed
    Yes
    Exterior features
    Corner Lot, Fencing
    Fencing
    Fenced
    Lot size
    128.77 Acres

    Utilities

    Water front features
    Creek, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Michele Elchin
    Michele Elchin

    Dalton Wade, Inc. (727) 888-4175

    Listing agent Michele Elchin (888) 668-8283 License #3282015

    Listing date Feb 24, 2026

    MLS# P4937652 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

    Sprawling Agricultural Estate

    This expansive agricultural estate encompasses approximately 142 acres in Lake Wales, Central Florida. The property is agriculturally classified and offers a blend of farmland, natural beauty, and development potential. It features over 3700 feet of road frontage on State Route 60 and additional frontage on Tiger Lake Road, with four gated entrances. The land is currently utilized for hay and timber production, with naturally growing Saw Palmettos available for harvesting. The landscape includes cleared, workable areas and a scenic natural landscape with mature Oak trees. Water resources include two private ponds and access to Weohyakapka (Walk-in-Water) Creek, which flows into Lake Rosalie. Three metal storage buildings support agricultural operations. Existing large equipment may be negotiated separately. The entire property is fully fenced with electric fencing and enhanced by security cameras. Native wildlife frequents the land, which is also suitable for large farm animals, ranching, livestock operations, or equestrian use. Located approximately 50 miles south of Orlando, the property offers rural privacy with accessibility. It is suited for a working farm, timber investment, recreational retreat, or a custom-built home. The property can be subdivided. (10 adjoining parcels together with a combined acreage of 142.42).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.39492947
    Latitude
    27.87473875

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    FAQs

    What type of property is this?
    Agricultural property - 142-acre agricultural estate with road frontage and water access.
    Where is this agricultural property located?
    The property is located at E State Road 60 Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $2,995,000.
    What are key features of this property?
    This property features: - Approximately 142 acres of agriculturally classified land with **prime road frontage (over 3700 feet) on State Route 60 and Tiger Lake Road**, offering outstanding access and development potential.; - **Water access includes two private ponds and access to Weohyakapka (Walk-in-Water) Creek**, which flows into Lake Rosalie, ideal for irrigation, livestock, or recreation.; - Currently utilized for yearly hay and timber production, with potential for harvesting Saw Palmettos, offering immediate income opportunities.
    (863) 514-6880
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    E State Road 60 Lake Wales, FL 33898
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    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
    E State Road 60 Lake Wales, FL 33898
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    We can help!
    Listing Contact
    Michele Elchin
    Michele Elchin
    Real Estate License ID: 3282015
    (863) 514-6880 (888) 668-8283 (893) 514-6880
    Learn more
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