Retail Space with Roll-Up
For Sale
$249,900
1130 STATE ROAD 60 W, Lake Wales, FL 33853
Commercial Sale, LAKE WALES, FL
Property Size1,760 SF
Lot Size0.14 Acres
Price / SF$141.99
Days on Market8
Property Features for 1130 STATE ROAD 60 W
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-3
Lot features
Corner Lot
Directions
Driving south on Highway 27 from Haines City, turn right on Highway 60, property will be down on your right.
Subdivision
33853 - Lake Wales South
Standard status
Active
APN
27-30-03-000000-032080
Size
1,760 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SW1/4 OF SE1/4 OF NW1/4 S OF RR N OF SR 60 & E OF HWY
Tax Annual Amount
1481
Legal Description
SW1/4 OF SE1/4 OF NW1/4 S OF RR N OF SR 60 & E OF HWY
Amenities
two front entrances
side roll-up door
kitchen-style break room
restroom
Building Details
Year built
1963
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Listing Agency:
HARPER REALTY FL, LLC
(863) 687-8020
Listed By:
Annie Wood · License #3323982
(321) 229-1913
Added: Sep 27
Changed: Oct 4
Last Checked: Oct 4 at 6:06AM
MLS# L4965408
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 1,760-square-foot retail property occupies a 0.14-acre corner site on State Road 60 W. Built in 1963, the block building has two front entrances, a side roll-up door, a kitchen-style break room, and a restroom. Concrete flooring is also present. C-3 zoning applies, with potential uses subject to City approval.
The property fronts State Road 60, where the listing reports traffic of approximately 40,000+ vehicles per day. US Highway 27 is identified as a nearby north-south route, while State Road 60 provides east-west connectivity through Central Florida.
The property fronts State Road 60, where the listing reports traffic of approximately 40,000+ vehicles per day. US Highway 27 is identified as a nearby north-south route, while State Road 60 provides east-west connectivity through Central Florida.
Key Highlights
- 1,760 square feet on a 0.14‑acre corner parcel
- C‑3 zoning; uses are 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
Flex RnD
$135.3K
$118.4K – $157.9K
NOI $9,472 @ 7.0% cap · market cap 3.79%
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
40,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial 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?
Retail space - C-3 zoning allows a range of commercial uses, subject to City approval.
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 on a 0.14‑acre corner parcel; C‑3 zoning; uses are subject to City approval; Two front entrances and a side roll‑up door
