Retail Space with Roll-Up
New
For Sale
$249,900
1130 STATE ROAD 60 W, Lake Wales, FL 33853
Two front entrances and C-3 zoning complement a side roll-up door for varied commercial configurations.
Property Size1,760 SF
Price / SF$141.99
Days on Market7
Property Features for 1130 STATE ROAD 60 W
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Retail
Amenities
0.14 acres, Corner Lot
Additional parcels description:, Parcel Number: 27-30-03-000000-032080, Public Survey Range: 27, Public Survey Section: 03, Annual Amount: $1,480.63, Tax Book Number: P-81, Legal Description: SW1/4 OF SE1/4 OF NW1/4 S OF RR N OF SR 60 & E OF HWY, Year: 2025, Zoning: C-3
Concrete
Listing ID: MFRL4965408, Standard Status: Active, MLS Status: Active, Property Subtype: Retail, On market as of 2026-09-28, 1 day on market, Special Conditions: None
Built in 1963, Living area: 1760, Living area units: Square Feet, 1 storey, Construction Materials: Block
MLS Area (Major): 33853 - Lake Wales South, County/Parish: Polk
Slab
Frontage Type: Divided Highway, Turn Lanes, Road Surface: Asphalt
Building Details
Year Built
1963
Listing Agency:
HARPER REALTY FL, LLC
(863) 687-8020
Listed By:
Annie Wood · License #3323982
(321) 229-1913
Source:
Miharaandassociates
Added: Sep 28
Changed: Oct 3
Last Checked: Oct 3 at 12:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HARPER REALTY FL, LLC
Investment Insights
Based on property information with market context.
This 1,760-square-foot retail property was built in 1963 and has two entrances at the front, a side roll-up door, a kitchen-style break room, and a restroom. The combination of customer access and roll-up entry provides distinct ways to reach the interior.
The property is on State Road 60 in Lake Wales, with US Highway 27 nearby. C-3 Highway Commercial zoning applies; permitted uses are subject to City approval.
The property is on State Road 60 in Lake Wales, with US Highway 27 nearby. C-3 Highway Commercial zoning applies; permitted uses are subject to City approval.
Key Highlights
- 1,760 square feet of retail space
- C‑3 Highway Commercial zoning; uses subject to City approval
- Two front entrances and a side 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
$19,765
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
7.91%
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%
$395,300
$395.3K
Cap Rate 7%
$282,357
$282.4K
Cap Rate 9%
$219,611
$219.6K
Market Conditions
NOI Build-Up for 1,760 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
$30.6K $17.40/SF
− Vacancy
−$2.4K −$1.36/SF
EGI
$28.2K $16.04/SF
− OpEx
−$8.5K −$4.81/SF
NOI
$19.8K $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%
$395,300
Cap Rate 7%
$282,357
Cap Rate 9%
$219,611
Alternative Uses
Best Use
Retail
$282.4K
$247.1K – $329.4K
NOI $19,765 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$422.9K
$370.1K – $493.4K
NOI $29,606 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
21k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 28%
Groceries 17%
Beef 'O' Brady's
Dining
6,519 visits/mo
0.4 miles
KFC
Dining
5,171 visits/mo
0.4 miles
Chevron
Shops & Services
3,955 visits/mo
0.1 miles
Save-A-Lot
Groceries
3,593 visits/mo
0.3 miles
FedEx Office Print & Ship Center
Shops & Services
1,644 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two front entrances and C-3 zoning complement a side roll-up door for varied commercial configurations.
Where is this retail space located?
The property is located at 1130 STATE ROAD 60 W Lake Wales, FL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 1,760 square feet of retail space; C‑3 Highway Commercial zoning; uses subject to City approval; Two front entrances and a side roll‑up door
