318 S 1st St, Lake Wales, FL 33853
COMMERCIAL - Lake Wales, FL
- Added:
- Apr 2, 2026
- Days on Market:
- 93
- Last Refresh:
- Jul 3 at 3:06 pm
Property Features for 318 S 1st St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Driveway
- Patio and Porch features
- Patio, Porch
- Standard status
- Active
- Size
- 1,336 SF
- Lot size
- 0.14 Acres
Utilities
- Water source
- Public
Building Details
- Year built
- 1938
- Flooring type
- Tile
- Building materials
- Stucco, Masonite
- Roof type
- Asphalt
Listing agent Daniel Hut License #3417570 (844) 504-4844
Listing office Hut Team Realty LLC 100 South Ashley Drive Suite 600, Tampa, FL (844) 504-4844
Listing date Apr 2, 2026
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 1,336 SF office building built in 1938 with ADA‑compliant handicap ramp and railings
- Zoned commercial with option to convert the rear portion into a 1‑bedroom residential unit with a separate electric meter
- New roof in 2025; asphalt shingle roof with stucco/Masonite construction and tile flooring
- Private parking for up to 5 vehicles with a driveway, patio, and porch
- Public water service; fiber optic internet listed; includes reception area, kitchen, and bathroom with shower
- Seller financing available: 20% down, 10% interest, 10‑year term, no prepayment penalty
Overview
Located in downtown Lake Wales, the property is zoned commercial. Remarks note excellent street visibility and convenient access with a turn lane, positioned on a 0.14-acre lot.
For tenants or owners seeking a flexible setup, the current office layout can support professional services and similar uses, while the conversion option provides a built-in pathway for a live-work or office-plus-residential configuration. The presence of private parking and ADA accessibility elements can support day-to-day client and employee needs. Seller financing is available with 20% down at 10% interest, a 10-year term, and no prepayment penalty.
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
- -81.589846
- Latitude
- 27.897328
