318 S 1st St, Lake Wales, FL 33853
Move-in-ready office with ADA features, fiber internet, and private parking for up to five vehicles, with an office/residential option.
- Added:
- Apr 2, 2026
- Days on Market:
- 98
- Last Refresh:
- Jul 8 at 3:47 am
Property Features for 318 S 1st St
General Information
- Standard status
- Active
- Size
- 1,336 SF
- Lot size
- 0.14 Acres
- Property subtype
- Commercial Building
Building Details
- Year Built
- 1938
Listing office Hut Team Realty LLC (844) 504-4844
Listing date Apr 2, 2026
Source Doyle-realty
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 Hut Team Realty LLC
HighLights
- 1,336 SF office building (built 1938) with new roof in 2025
- Zoned commercial with an office/residential conversion option for a 1‑bedroom unit in the rear
- Separate electric meter for the potential rear 1‑bedroom residential unit
- ADA‑compliant features including handicap ramp and railings
- Private parking for up to 5 vehicles with convenient access via a turn lane
- High‑speed fiber optic internet and includes reception, kitchen, and bathroom with shower
Overview
The property is zoned commercial and is located in downtown Lake Wales at 318 S 1st St. Public remarks note street visibility and convenient access with a turn lane. Private parking is available for up to five vehicles, supporting an on-site client or staff arrival experience. The site is set on a 6,251 square foot lot.
For tenants, owners, or operators, the layout supports a range of professional uses while accommodating ADA requirements. The office/residential option may appeal to businesses seeking mixed-use flexibility under the existing commercial zoning, including models that combine services with a residential component. The private parking and on-site arrival access are practical for day-to-day operations and client visits.
Local Financial Insights For Healthcare Medical
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 | $31.3k | $23.40 |
| − Vacancy | −$3.3k | −$2.46 |
| EGI | $28.0k | $20.94 |
| − OpEx | −$11.2k | −$8.38 |
| NOI | $16.8k | $12.57 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lake Wales
- County
- Polk
- State
- Florida
- Longitude
- -81.5898462
- Latitude
- 27.8973283
