Medical Office Space with Two
455 Emerald Ave, Lake Wales, FL 33853
For Sale
Contact for pricing
A finished clinical suite is paired with a separate shell unit that can be configured for medical or other business use.
Property Size5,766 SF
Price / SF$164.76
Days on Market17
Property Features for 455 Emerald Ave
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Additional Details
Office Units
Property Use
Medical Specialty
Building Details
Year Built
Buildings
Listing Agency:
Saunders Real Estate
Listed By:
Maricruz Mejia · License FL SL3563591
Source:
Crexi
Added: Oct 27
Changed: Nov 8
Last Checked: Nov 10 at 6:38AM
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 Saunders Real Estate
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Investment Insights
Based on property information with market context.
This 5,766 ± SF medical office property contains two separately metered units. The 2,955 ± SF finished suite has six exam rooms, a lobby, two patient restrooms, a break room, two offices—including one with a full bathroom—and an employee restroom. Stairs lead to approximately 300 ± SF of upper-level storage. The second unit measures 2,811 ± SF and is in grey shell condition. Built in 2005, the building has a galvanized metal roof with ZAC cap fasteners, and both AC units were recently replaced.
Access is from Emerald Avenue, with two points of ingress and egress. The property is within Lake Wales city limits, a couple of blocks south of State Road 60 and approximately one mile west of AdventHealth Lake Wales Hospital. Scenic Highway is approximately 200 ± feet east, US Highway 27 is just over one mile west, and downtown Lake Wales is approximately one mile north. The surrounding area is primarily residential, with an inn adjacent to the east.
Access is from Emerald Avenue, with two points of ingress and egress. The property is within Lake Wales city limits, a couple of blocks south of State Road 60 and approximately one mile west of AdventHealth Lake Wales Hospital. Scenic Highway is approximately 200 ± feet east, US Highway 27 is just over one mile west, and downtown Lake Wales is approximately one mile north. The surrounding area is primarily residential, with an inn adjacent to the east.
Key Highlights
- 5,766 ± SF building divided into two separately metered units
- Finished 2,955 ± SF medical suite with six exam rooms and approximately 300 ± SF of upper‑level storage
- 2,811 ± SF second unit in grey shell condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,771
Cap Rate
8.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,595,420
$1.6M
Cap Rate 7%
$1,139,586
$1.1M
Cap Rate 9%
$886,344
$886.3K
Market Conditions
NOI Build-Up for 5,766 SF
Gross rent
$126.6K $21.96/SF
− Vacancy
−$20.3K −$3.51/SF
EGI
$106.4K $18.45/SF
− OpEx
−$26.6K −$4.61/SF
NOI
$79.8K $13.83/SF
Area
Polk County, FL
Vacancy
16.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,595,420
Cap Rate 7%
$1,139,586
Cap Rate 9%
$886,344
Alternative Uses
Best Use
Office B
$1.14M
$997.1K – $1.33M
NOI $79,771 @ 7.0% cap · market cap 8.40%
Second Best
Healthcare Medical
$1.10M
$966.1K – $1.29M
NOI $77,285 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$1.47M
$1.29M – $1.72M
NOI $103,061 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
597
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
$198,100
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Polk County, FL
Properties on Market for Medical Office Space in Polk County
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Polk Equine — 6 W Park Ave #3844, Lake Wales, FL 33859
Frequently Asked Questions
What type of property is this?
Medical Office Space - A finished clinical suite is paired with a separate shell unit that can be configured for medical or other business use.
Where is this medical office space located?
The property is located at 455 Emerald Ave Lake Wales, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5,766 ± SF building divided into two separately metered units; Finished 2,955 ± SF medical suite with six exam rooms and approximately 300 ± SF of upper‑level storage; 2,811 ± SF second unit in grey shell condition
