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

    Gilbert Rd Lake Wales, FL 33898

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $225,000

    5.11 acre citrus grove near Lake Wales, Florida.

    Lot size:
    5.11 Acres

    Property Features for Gilbert Rd

    General Information

    Lot size
    5.11 Acres

    We can help!

    Listing Contact
    Ruthie Welch
    Source: Elliman

    Listing Agent: Ruthie Welch

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

    Learn more

    Overview

    Citrus Grove Land Parcel

    This 5.11-acre parcel is planted with citrus and bordered by citrus groves on all sides. It features 667 feet of frontage on Gilbert Road and includes a working well used for grove irrigation. The property is located near Lake Iris and Lake Aurora, east of Lake Wales, providing convenient access to shopping and medical facilities. A septic system will need to be installed for residential use. Several golf courses and lakes with public access are located nearby. Legoland Florida is approximately 30 minutes away, and both the East and West Coast beaches of Florida are within a short driving distance, making day trips to the beach feasible.
    Location Intelligence

    Current Use by Public Records

    Agricultural land

    Map

    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.474128
    Latitude
    27.857285

    Nearby Similar for Sale

    • $1,650,000
      8,480 SF

      Historic Mixed-Use Building in Lake Wales

      Historic mixed-use building with commercial suites and residential apartments.
      244 E Park Ave, Lake Wales, FL 33853
      View Details
    • $1,650,000
      8,480 SF

      Historic Lake Wales Mixed-Use Building

      Historic mixed-use building in revitalized downtown Lake Wales with commercial and residential.
      244 E Park Ave, Lake Wales, FL 33853
      View Details
    • $900,000
      7,350 SF

      Mixed-Use Buildings on Scenic Highway

      Two commercial buildings ideal for showroom, warehouse, or mixed-use.
      322 S Scenic Hwy, Lake Wales, FL 33853
      View Details
    • New
      $824,900
      4,264 SF

      Lakefront Multi-Family Income Property

      Lakefront 6-unit property in Highland Park with income generation.
      1854 Highland Park Dr S, Lake Wales, FL 33898
      View Details
    • New
      $285,000
      1,650 SF

      Duplex in Convenient Lake Wales

      Investment opportunity: duplex near dining, shopping, and major roadways.
      415 E Polk Ave, Lake Wales, FL 33853
      View Details
    • $69,900
      0.09 Acres

      Resort RV Lot in Lake Wales

      RV lot at Resort at Canopy Oaks with luxury amenities.
      Highway 630 E, Lake Wales, FL 33898
      View Details
    • $254,000
      1,652 SF

      Canal Front Multifamily Property

      Multifamily property with canal access and value-add opportunity.
      9035 Temple Dr, Lake Wales, FL 33898
      View Details
    • $600,000
      1,674 SF

      Furnished Restaurant in Lake Wales

      Fully equipped restaurant with a strong community presence for over 70 years.
      114 W Central Ave, Lake Wales, FL 33853
      View Details
    • $334,000
      0.07 Acres

      Waterfront RV Lot in River Ranch

      Renovated luxury RV lot with waterfront access and resort amenities.
      556 Waterway Dr, Lake Wales, FL 33898
      View Details
    • $199,500
      0.09 Acres

      RV Lot in River Ranch

      Luxury RV lot with amenities and access to Lake Kissimmee.
      376 Bear Trl, River Ranch, FL 33867
      View Details
    • $159,000
      0.06 Acres

      RV Resort Lot with Pavilion

      RV resort lot with pavilion, amenities, and income potential.
      253 Saddle Ln, River Ranch, FL 33867
      View Details
    • $1,250,000
      8,500 SF

      Income-Producing Property with Growth Potential

      Commercially zoned property with hotel, restaurant, and expansion possibilities.
      16905 Hwy 27, Lake Wales, FL 33859
      View Details

    FAQs

    What type of property is this?
    Land - 5.11 acre citrus grove near Lake Wales, Florida.
    Where is this land located?
    The property is located at Gilbert Rd Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: - 5.11 acre citrus grove with **667 feet of frontage on Gilbert Road.**; - Working well for irrigation.; - Surrounded by citrus groves on all sides.
    (863) 528-3120
    Request Owner's contact information
    Gilbert Rd Lake Wales, FL 33898
    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.
    Gilbert Rd
    Lake Wales, FL 33898
    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
    Gilbert Rd Lake Wales, FL 33898
    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
    Ruthie Welch
    (863) 528-3120
    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.