Mixed-Use Property with Multiple
For Sale
$599,000
19 EVERGREEN DR, Lake Wales, FL 33898
LCC zoning and easement access from Highway 60 support a range of business uses.
Property Size6,063 SF
Price / SF$98.80
Days on Market220
Property Features for 19 EVERGREEN DR
General Information
Standard status
Active
Size
6,063 SF
Property subtype
Mixed Use
Zoning
Linear Commercial Corridor (LCC)
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Mixed-Use Components
retail, warehouse
Additional Details
Warehouse Space
1,842 SF
Taxes and HOA fees
Annual Taxes
$3,551
Building Details
Building Size
6,063 SF
Year Built
1940
Buildings
3
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
Brandy Duncan · License #3386190
(863) 294-7541
Source:
Bascomgrooms
Added: Mar 23
Changed: Oct 26
Last Checked: Oct 26 at 4:05PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property includes a 1,766-square-foot concrete block retail-style building, an 1,842-square-foot concrete block warehouse, and a 2,760-square-foot steel building. A wood-frame single-family home is also on site and has no contributory value. New roofs are noted for the warehouse and steel building, with the retail building roof replaced in August 2026.
Located in unincorporated Polk County near the Highway 60 corridor, the property has Linear Commercial Corridor (LCC) zoning. Easement access is available from Highway 60. The fenced rear area provides outdoor space, and a survey is available to buyers at no cost.
Located in unincorporated Polk County near the Highway 60 corridor, the property has Linear Commercial Corridor (LCC) zoning. Easement access is available from Highway 60. The fenced rear area provides outdoor space, and a survey is available to buyers at no cost.
Key Highlights
- Three commercial buildings: 1,766‑square‑foot retail‑style structure, 1,842‑square‑foot warehouse, and 2,760‑square‑foot steel building
- Concrete block construction in the retail‑style building and warehouse
- New roofs noted for the warehouse and steel building; retail building roof replaced in August 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,388
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,760
$807.8K
Cap Rate 7%
$576,971
$577.0K
Cap Rate 9%
$448,756
$448.8K
Market Conditions
NOI Build-Up for 6,063 SF
Gross rent
$51.5K $8.50/SF
− Vacancy
−$4.0K −$0.66/SF
EGI
$47.5K $7.84/SF
− OpEx
−$7.1K −$1.18/SF
NOI
$40.4K $6.66/SF
Area
Polk County, FL
Vacancy
7.80%
Lease Rate
$8.50 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,760
Cap Rate 7%
$576,971
Cap Rate 9%
$448,756
Alternative Uses
Best Use
Mixed Use
$975.4K
$853.5K – $1.14M
NOI $68,277 @ 7.0% cap · market cap 11.40%
Second Best
Retail
$972.7K
$851.1K – $1.13M
NOI $68,087 @ 7.0% cap · market cap 11.37%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,989 @ 7.0% cap · market cap 17.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
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Business Placement
Demographics for 33898, FL
17,971
Population
10,080
Households
1.8
Avg Household Size
51
Median Age
17%
College-Educated
85%
High-School Grad
296.9 sq mi
ZIP Area
61
Density / Sq Mi
$54,778
Median Household Income
$32,414
Median Earnings
$1,122
Median Rent
$161,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - LCC zoning and easement access from Highway 60 support a range of business uses.
Where is this mixed-use property located?
The property is located at 19 EVERGREEN DR Lake Wales, FL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three commercial buildings: 1,766‑square‑foot retail‑style structure, 1,842‑square‑foot warehouse, and 2,760‑square‑foot steel building; Concrete block construction in the retail‑style building and warehouse; New roofs noted for the warehouse and steel building; retail building roof replaced in August 2026
