Mixed-Use Property with
For Sale
$3,150,000
126 State Road 60 W, Lake Wales, FL 33853
Commercial building includes private offices, rear warehouse space, and an accompanying residential home.
Property Size17,600 SF
Price / SF$178.98
Days on Market27
Property Features for 126 State Road 60 W
General Information
Standard status
Active
Size
17,600 SF
Building Details
Year Built
1988
Buildings
2
Listing Agency:
COLDWELL BANKER REALTY
(863) 294-7541
Listed By:
Erin Floyd · License #3212218
Source:
Livewelltampabay
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 30 at 8:52PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This mixed-use property combines a furniture showroom with a separate residential home and additional land behind the primary improvements. The commercial building features an open showroom layout, several private offices, a rear warehouse, an on-site bathroom, and a staff break room. The warehouse provides functional space for inventory storage and distribution operations.
Located at 126 State Road 60 W in Lake Wales, Florida, the property fronts State Road 60 and is positioned near local businesses, retail centers, and residential communities. The improvements were constructed in 1988. The residential component and rear land add distinct flexibility for ownership, occupancy, storage, or future property planning, subject to applicable approvals.
Located at 126 State Road 60 W in Lake Wales, Florida, the property fronts State Road 60 and is positioned near local businesses, retail centers, and residential communities. The improvements were constructed in 1988. The residential component and rear land add distinct flexibility for ownership, occupancy, storage, or future property planning, subject to applicable approvals.
Key Highlights
- Mixed‑use property at 126 State Road 60 W, Lake Wales, FL 33853
- 17,600 property size
- Furniture showroom with open display area and multiple private offices
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
$198,198
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
6.29%
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%
$3,963,960
$4.0M
Cap Rate 7%
$2,831,400
$2.8M
Cap Rate 9%
$2,202,200
$2.2M
Market Conditions
NOI Build-Up for 17,600 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
$348.5K $19.80/SF
− Vacancy
−$31.4K −$1.78/SF
EGI
$317.1K $18.02/SF
− OpEx
−$118.9K −$6.76/SF
NOI
$198.2K $11.26/SF
Area
Polk County, FL
Vacancy
9.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
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%
$3,963,960
Cap Rate 7%
$2,831,400
Cap Rate 9%
$2,202,200
Alternative Uses
Best Use
Mixed Use
$2.83M
$2.48M – $3.30M
NOI $198,198 @ 7.0% cap · market cap 6.29%
Second Best
Retail
$2.82M
$2.47M – $3.29M
NOI $197,647 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$4.23M
$3.70M – $4.93M
NOI $296,060 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
944
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial building includes private offices, rear warehouse space, and an accompanying residential home.
Where is this mixed-use property located?
The property is located at 126 State Road 60 W Lake Wales, FL.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Mixed‑use property at 126 State Road 60 W, Lake Wales, FL 33853; 17,600 property size; Furniture showroom with open display area and multiple private offices
