Lake Wales Commercial Buildings For
For Sale
$474,900
322 North Scenic Highway, Lake Wales, FL 33853
Two commercial buildings on Scenic Hwy S in Lake Wales.
Property Size4,494 SF
Price / SF$105.67
Days on Market255
Property Features for 322 North Scenic Highway
General Information
Standard status
Active
Size
4,494 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$9,025
Amenities
Central Air
Central, Electric
Carpet, Ceramic Tile
Refrigerator
No
10 to 15 Feet
Square Feet
Public Records
Shingle
Two
Mature Landscaping
2
Slab
Block, Brick
Building Details
Year Built
1928
Listing Agency:
WESTLAKE REAL ESTATE CO., INC.
Listed By:
Heidi Gravel · License #427175
(863) 676-8058
Source:
Compass
Added: Feb 12
Changed: Oct 23
Last Checked: Oct 23 at 9:38AM
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 WESTLAKE REAL ESTATE CO., INC.
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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.
Two commercial buildings are available on Scenic Hwy S in Lake Wales. The property at 322 Scenic Hwy S offers approximately 7,350 square feet and features bowstring trusses, a distinct architectural element. The warehouse includes multiple roll-up doors, three bathrooms, office and showroom space, and an unrecorded second floor. It is suitable for showroom, warehouse, or mixed-use purposes, and was previously a Buick Dealership. The property at 326 Scenic Hwy S provides 1,080 square feet with two roll-up doors, an office, and a bathroom. The buildings are being sold together and have access from Polk Ave and Scenic Hwy.
Key Highlights
- Two commercial buildings on Scenic Hwy S, Lake Wales.
- Large 7,350 SF building with unique bowstring trusses.**
- Warehouse with multiple roll‑up doors, 3 bathrooms, and office/showroom space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,937
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,740
$598.7K
Cap Rate 7%
$427,671
$427.7K
Cap Rate 9%
$332,633
$332.6K
Market Conditions
NOI Build-Up for 4,494 SF
Gross rent
$38.2K $8.50/SF
− Vacancy
−$3.0K −$0.66/SF
EGI
$35.2K $7.84/SF
− OpEx
−$5.3K −$1.18/SF
NOI
$29.9K $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%
$598,740
Cap Rate 7%
$427,671
Cap Rate 9%
$332,633
Alternative Uses
Best Use
Mixed Use
$723.0K
$632.6K – $843.5K
NOI $50,608 @ 7.0% cap · market cap 10.66%
Second Best
Retail
$721.0K
$630.8K – $841.1K
NOI $50,467 @ 7.0% cap · market cap 10.63%
Theoretical Best
Office A
$1.08M
$945.0K – $1.26M
NOI $75,596 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- AmirStorage.com — 115 State Rd 60, Lake Wales, FL 33853
Frequently Asked Questions
What type of property is this?
Warehouse - Two commercial buildings on Scenic Hwy S in Lake Wales.
Where is this warehouse located?
The property is located at 322 North Scenic Highway Lake Wales, FL.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two commercial buildings on Scenic Hwy S, Lake Wales.; Large 7,350 SF building with unique bowstring trusses.**; Warehouse with multiple roll‑up doors, 3 bathrooms, and office/showroom space.
