Corner Auto Shop
For Sale
Contact for pricing
184 DR J A Wiltshire Ave E, Lake Wales, FL 33853
LCI zoning supports automotive, storage, and several additional commercial use categories.
Property Size3,800 SF
Price / SF$164.47
Days on Market291
Property Features for 184 DR J A Wiltshire Ave E
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Industrial, Mixed Use, Retail
Zoning
Lake Wales- Limited Commercial Industrial
Investment Type
Owner/User
Additional Details
Three-Phase Power
Yes
Building Details
Year Built
1981
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
KW Commercial Winter Haven
(863) 206-8278
Listed By:
David Reyes · License #FL 679127
Source:
Crexi
Added: Nov 13, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:26AM
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 KW Commercial Winter Haven
Investment Insights
Based on property information with market context.
This auto shop property occupies a hard corner at 184 Dr J A Wiltshire Ave E in Lake Wales. Built in 1981, the building is designated under Lake Wales Limited Commercial Industrial zoning, also identified as LCI.
The zoning supports a broad range of potential applications, including automotive service, warehouse or storage operations, vehicle sales or rental, restaurant use, medical office, health services, and an indoor shooting range. The sale does not include an operating business, while certain equipment may be available through a separate purchase arrangement.
The zoning supports a broad range of potential applications, including automotive service, warehouse or storage operations, vehicle sales or rental, restaurant use, medical office, health services, and an indoor shooting range. The sale does not include an operating business, while certain equipment may be available through a separate purchase arrangement.
Key Highlights
- Hard‑corner auto shop property at 184 Dr J A Wiltshire Ave E, Lake Wales, FL 33853
- Built in 1981
- Zoned Lake Wales- Limited Commercial Industrial (LCI)
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
$42,674
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
6.83%
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%
$853,480
$853.5K
Cap Rate 7%
$609,629
$609.6K
Cap Rate 9%
$474,156
$474.2K
Market Conditions
NOI Build-Up for 3,800 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
$66.1K $17.40/SF
− Vacancy
−$5.2K −$1.36/SF
EGI
$61.0K $16.04/SF
− OpEx
−$18.3K −$4.81/SF
NOI
$42.7K $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%
$853,480
Cap Rate 7%
$609,629
Cap Rate 9%
$474,156
Alternative Uses
Best Use
Retail
$609.6K
$533.4K – $711.2K
NOI $42,674 @ 7.0% cap · market cap 6.83%
Second Best
Warehouse
$361.6K
$316.4K – $421.9K
NOI $25,314 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$913.2K
$799.0K – $1.07M
NOI $63,922 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
509
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
- A & A Auto Plus — 19598-19648 FL-25, Lake Wales, FL 33853
- Auto Repair Lake Wales - Huston Cadillac — 19510 US Hwy 27, Lake Wales, FL 33853
- Huston Cadillac Service Department — 19510 us-27, lake wales, fl 33853
- B & B Auto Upholstery — 133 W Stuart Ave, Lake Wales, FL 33853
- Native Imagery — 48 W Central Ave, Lake Wales, FL 33853
Frequently Asked Questions
What type of property is this?
Auto shop - LCI zoning supports automotive, storage, and several additional commercial use categories.
Where is this auto shop located?
The property is located at 184 DR J A Wiltshire Ave E Lake Wales, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Hard‑corner auto shop property at 184 Dr J A Wiltshire Ave E, Lake Wales, FL 33853; Built in 1981; Zoned Lake Wales- Limited Commercial Industrial (LCI)
