Downtown Lake Wales Auto
For Sale
$450,000
133 W Stuart Ave, Lake Wales, FL 33853
Spacious auto shop with flexible workspace in downtown Lake Wales.
Property Size1,900 SF
Lot Size0.17 Acres
Price / SF$236.84
Days on Market624
Property Features for 133 W Stuart Ave
General Information
Standard status
Active
Size
1,900 SF
Lot size
0.17 Acres
Taxes and HOA fees
Annual Taxes
$1,453
Listing Agency:
legacy real estate center inc
(863) 676-0200
Listed By:
Vicky Holloway · License #3279441
(863) 676-0200
Source:
Exprealty
Added: Nov 22, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:02AM
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 legacy real estate center inc
Investment Insights
Based on property information with market context.
This property features a reception area with a dedicated office and bathroom. The building includes over 1500 square feet of flexible workspace that can be used as is or redesigned. Connected to the main building is over 400 square feet of garage space with a roll-up door. There is an additional covered 1000 square feet provided by a 14-foot high carport, all on concrete pavement and secured with a fence and wall on two sides. The property is located in downtown Lake Wales near Highway 27, providing easy access for customers. The seller is offering the real estate at the list price, and it can include the well-established business in downtown Lake Wales as a turn-key, local auto upholstery business with a client base that spans 50 plus years. Lake Wales is experiencing a surge of development and growth with future projects planned for Main Street. The property's central location provides easy access for customers.
Key Highlights
- Prime downtown Lake Wales location, experiencing significant growth and development.
- Over 1500 sq. ft. of flexible workspace adaptable to various needs.
- Substantial 400 sq. ft. garage space with 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
$21,337
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
4.74%
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%
$426,740
$426.7K
Cap Rate 7%
$304,814
$304.8K
Cap Rate 9%
$237,078
$237.1K
Market Conditions
NOI Build-Up for 1,900 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
$33.1K $17.40/SF
− Vacancy
−$2.6K −$1.36/SF
EGI
$30.5K $16.04/SF
− OpEx
−$9.1K −$4.81/SF
NOI
$21.3K $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%
$426,740
Cap Rate 7%
$304,814
Cap Rate 9%
$237,078
Alternative Uses
Best Use
Retail
$304.8K
$266.7K – $355.6K
NOI $21,337 @ 7.0% cap · market cap 4.74%
Second Best
Flex RnD
$146.1K
$127.8K – $170.4K
NOI $10,226 @ 7.0% cap · market cap 2.27%
Theoretical Best
Office A
$456.6K
$399.5K – $532.7K
NOI $31,961 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Dan's Mobile Paint Services — 411 E Polk Ave, Lake Wales, FL 33853
- C&S Mobile RV Services — 3 W Grove Ave, Lake Wales, FL 33853
- iTint Professional GlassTinting — 330 S Scenic Hwy, Lake Wales, FL 33853
- Mobile mechanic gas&diesel RV semi truck trelair van cars — 19254 US Hwy No. 27, Lake Wales, FL 33853
- Tire Choice Auto Service Centers — 203 Domaris Ave, Lake Wales, FL 33853
Frequently Asked Questions
What type of property is this?
Auto shop - Spacious auto shop with flexible workspace in downtown Lake Wales.
Where is this auto shop located?
The property is located at 133 W Stuart Ave Lake Wales, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime downtown Lake Wales location, experiencing significant growth and development.; Over 1500 sq. ft. of flexible workspace adaptable to various needs.; Substantial 400 sq. ft. garage space with roll‑up door.
