Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lake Wales, FL 33853

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    3,288 SF former restaurant building available for lease.

    We can help!

    Listing Contact
    John Dottore
    Source: Atlanticretail

    Listing Agent: John Dottore

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Former Restaurant Building For Lease

    A 3,288 square-foot former restaurant building is available for lease. The property is zoned C-3 (Highway Commercial) and is situated on a 0.45-acre site with 210 feet of frontage along E State Road 60, which has a traffic volume of 29,000 vehicles per day. The site offers full access from W Polk Avenue and E State Road 60. Retailers located within a 1-mile radius include Save-A-Lot, KFC, Publix, McDonalds, AutoZone, Advanced Auto Parts, and Bealls. The intended use of the property is for drive-through restaurants, restaurants, and retail properties.
    Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Map

    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.4384
    Latitude
    27.8661

    Nearby Similar for Lease

    • $13 SF/Yr
      4,388 SF

      Historic Mixed-Use Building in Lake Wales

      Two-story mixed-use building with flexible space in downtown Lake Wales.
      247 E Stuart Ave, Lake Wales, FL 33853
      View Details
    • $14 SF/Yr
      1,405 SF

      Downtown Lake Wales Office Space

      Professionally finished office/retail space in the heart of Lake Wales.
      251 E Park Ave, Lake Wales, FL 33853
      View Details
    • $15 SF/Yr
      6,400 SF

      Downtown Lake Wales Mixed-Use Property

      Corner lot in growing business district, suitable for various uses.
      250 E Park Ave, Lake Wales, FL 33853
      View Details
    • $14 SF/Yr
      2,340 SF

      Downtown Lake Wales Office Space

      Rustic office space in revitalized downtown Lake Wales historic district.
      241 E Park Ave, Lake Wales, FL 33853
      View Details
    • $14 SF/Yr
      2,340 SF

      Downtown Lake Wales Retail Space

      Retail space in revitalized downtown Lake Wales business district.
      245 E Park Ave, Lake Wales, FL 33853
      View Details
    • $13 SF/Yr
      4,953 SF

      Versatile Retail Building in Lake Wales

      4,953 SF C2-zoned building suitable for diverse retail opportunities.
      1110 State Road 60 E, Lake Wales, FL 33853
      View Details
    • $80,047

      Office/Warehouse Condo in Lake Wales

      12,315 SF office/warehouse condo with built-out office space.
      1901 Longleaf Blvd, Lake Wales, FL 33859
      View Details
    • $19,670 /Mo

      Downtown Lake Wales Office/Retail

      Finished office or retail space in the heart of Lake Wales.
      251 E Park Ave, Lake Wales, FL 33853
      View Details
    • $36,000

      Turnkey Medical/Dental Office Space

      Furnished medical/dental office in Lake Wales, ready for occupancy.
      490 4Th St S, Lake Wales, FL 33853
      View Details
    • Contact for pricing
      108,984 SF

      Hunt Bros Complex: Industrial Space

      Lake Wales, FL industrial spaces available
      2404 Hunt Brothers Rd, Lake Wales, FL 33898
      View Details
    • Contact for pricing
      29,154 SF

      Retail Space in Lake Wales

      Retail space available in Lake Wales near residential development.
      1316-1450 Sr 60 E, Lake Wales, FL
      View Details
    • $6 SF/Yr
      50,000 SF

      Lake Wales Industrial Space

      5,400 SF Flex Space Available
      1750 Longleaf Blvd, Lake Wales, FL 33859
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - 3,288 SF former restaurant building available for lease.
    Where is this drive through restaurant located?
    The property is located at Lake Wales, FL.
    What are key features of this property?
    This property features: - High-traffic location: **29,000 Vehicles Per Day (VPD)**; - Highway Commercial Zoning (C-3); - Full access from W Polk Ave/E State Road 60
    (407) 919-6575
    Request Owner's contact information
    Lake Wales, FL 33853
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Lake Wales, FL 33853
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Lake Wales, FL 33853
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    John Dottore
    (407) 919-6575
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.