Two-Suite Retail Building with
128 E Orange Avenue Lake Wales, FL 33853
128 E Orange Avenue, Lake Wales, FL, 33853
$190,000
For Sale
$190,000
Two-suite downtown retail building with private curbside parking and access to an additional city lot.
Property Size1,440 SF
Price / SF$131.94
Days on Market392
Property Features for 128 E Orange Avenue
General Information
- Standard status
- Active
- Size
- 1,440 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1954
Listing agency
LA ROSA REALTY CENTRAL FLORIDA LLC
(407) 861-8009
Listed by
Robert Armstrong, PL
Source
Xome
Added: Jun 26, 2025 Updated: Jul 22 at 6:48PM Checked: Jul 22 at 6:48PM
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 LA ROSA REALTY CENTRAL FLORIDA LLC
Investment Insights
Based on property information with market context.
This two-suite commercial building offers a practical setup for owner-occupants and investors, with both units currently owner occupied. Each suite includes separate bathrooms and zoned central air conditioning. The salon is equipped with two shampoo sinks, and the barbershop includes a shampoo backwash. Optional equipment is available for both units. The property also features two separate AC systems, with one unit approximately 10 years old and the other approximately 1 year old, along with a roof approximately 7 years old.
The building is located in downtown Lake Wales and is served by private curbside parking, with access to an additional city parking lot. Please do not enter the property without an appointment to avoid disturbing the owners and customers.
The building is located in downtown Lake Wales and is served by private curbside parking, with access to an additional city parking lot. Please do not enter the property without an appointment to avoid disturbing the owners and customers.
Key Highlights
- Two‑suite commercial building in downtown Lake Wales with private curbside parking
- Shared driveway plus access to an additional city parking lot
- Central air: one AC unit is 10 years old and the other is 1 year old
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.1k | $17.40 |
| − Vacancy | −$2.0k | −$1.36 |
| EGI | $23.1k | $16.04 |
| − OpEx | −$6.9k | −$4.81 |
| NOI | $16.2k | $11.23 |
1,440 SF · lease $17.40/SF/yr · vacancy 7.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$231.0K
$202.1K – $269.5K
NOI $16,171 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$346.0K
$302.8K – $403.7K
NOI $24,223 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Urban Trendz
Barber Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Dawns Flower Patch — 243 E Bullard Ave, Lake Wales, FL 33853
- The party concierge — 218 Domaris Ave, Lake Wales, FL 33853
FAQs
What type of property is this?
Storefront property - Two-suite downtown retail building with private curbside parking and access to an additional city lot.
Where is this storefront property located?
The property is located at 128 E Orange Avenue Lake Wales, FL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Two‑suite commercial building in downtown Lake Wales with private curbside parking; Shared driveway plus access to an additional city parking lot; Central air: one AC unit is 10 years old and the other is 1 year old
