Single-Story Medical Office
New
For Sale
$599,900
1001 FLORIDA 60 E, Lake Wales, FL 33853
Commercial Sale, LAKE WALES, FL
Property Size1,943 SF
Lot Size0.80 Acres
Price / SF$308.75
Days on Market1
Property Features for 1001 FLORIDA 60 E
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
R-1A
Subdivision
LAKE WALES HEIGHTS
Directions
From US-27 S, take FL-60 E toward Lake Wales. Continue on State Road 60 E. The property will be on the right.
Standard status
Active
APN
27-30-01-881500-001340
Size
1,943 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE WALES HEIGHTS PB 4 PG 86 LOT 134 LESS SR 60
Tax Annual Amount
2834
Legal Description
LAKE WALES HEIGHTS PB 4 PG 86 LOT 134 LESS SR 60
Utilities
Cooling system
Central Air
Building Details
Year built
1956
Floors in Building
1
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Daniel McIntee · License #3385913
(877) 366-2213
Added: Aug 27
Last Checked: Aug 27 at 10:06PM
MLS# P4939625
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 1,943-square-foot medical office property occupies 0.8 acres and is arranged as a single-story professional office facility. The building is currently occupied by tenants operating an OB/GYN practice, providing an established medical use within the property. Block and concrete construction, central air, and a shingle roof support the existing office configuration, which is suitable for professional or healthcare operations.
The property is located along State Road 60 in Lake Wales, providing access to surrounding businesses, residential areas, medical services, professional offices, and Central Florida roadways. Built in 1956, the building is zoned R-1A and offers a compact commercial setting with an existing tenant presence.
The property is located along State Road 60 in Lake Wales, providing access to surrounding businesses, residential areas, medical services, professional offices, and Central Florida roadways. Built in 1956, the building is zoned R-1A and offers a compact commercial setting with an existing tenant presence.
Key Highlights
- 1,943‑square‑foot medical office building on 0.8 acres
- Currently occupied by tenants operating an OB/GYN practice
- Single‑story layout provides one‑level access
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
$24,415
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
4.07%
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%
$488,300
$488.3K
Cap Rate 7%
$348,786
$348.8K
Cap Rate 9%
$271,278
$271.3K
Market Conditions
NOI Build-Up for 1,943 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
$45.5K $23.40/SF
− Vacancy
−$4.8K −$2.46/SF
EGI
$40.7K $20.94/SF
− OpEx
−$16.3K −$8.38/SF
NOI
$24.4K $12.57/SF
Area
Polk County, FL
Vacancy
10.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
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%
$488,300
Cap Rate 7%
$348,786
Cap Rate 9%
$271,278
Alternative Uses
Best Use
Healthcare Medical
$348.8K
$305.2K – $406.9K
NOI $24,415 @ 7.0% cap · market cap 4.07%
Second Best
Office B
$341.0K
$298.4K – $397.8K
NOI $23,870 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$466.9K
$408.6K – $544.7K
NOI $32,684 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Under-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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Occupied professional office setting along State Road 60 with accessible one-level configuration and established medical use.
Where is this medical office space located?
The property is located at 1001 FLORIDA 60 E Lake Wales, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 1,943‑square‑foot medical office building on 0.8 acres; Currently occupied by tenants operating an OB/GYN practice; Single‑story layout provides one‑level access
