Mixed-Use Property with
For Sale
$450,000
811 State Road 60 E, Lake Wales, FL 33853
Residential and professional zoning supports flexible mixed-use occupancy.
Property Size3,436 SF
Lot Size1.06 Acres
Price / SF$130.97
Days on Market88
Property Features for 811 State Road 60 E
General Information
Standard status
Active
Size
3,436 SF
Lot size
1.06 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1948
Listing Agency:
PRIME PLUS REAL ESTATE INC
Listed By:
Joan Jarvis-Tyler · License #3079644
(863) 528-6024
Source:
Chenoregroup
Added: Jul 21
Changed: Oct 13
Last Checked: Oct 7 at 2:48PM
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 PRIME PLUS REAL ESTATE INC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property combines a 3,436-square-foot residence with professional-use approval from the City of Lake Wales. Built in 1948, the home includes four bedrooms, three full bathrooms, two half-bathrooms, a split-bedroom layout, an open living and dining arrangement, and an eat-in kitchen with a butler’s pantry. A laundry room, under-house storage areas, and extensive cabinetry add practical utility.
The 1.06-acre parcel has access from all four sides, including 245 feet along State Road 60, 152 feet on 8th Street S., 152 feet on Center Street, and an alley at the rear. Site improvements include a circular driveway, rear parking, an oversized parking pad, and a three-car garage with a workshop and bonus room containing a full bathroom. The side yard provides additional space for parking or expansion.
The 1.06-acre parcel has access from all four sides, including 245 feet along State Road 60, 152 feet on 8th Street S., 152 feet on Center Street, and an alley at the rear. Site improvements include a circular driveway, rear parking, an oversized parking pad, and a three-car garage with a workshop and bonus room containing a full bathroom. The side yard provides additional space for parking or expansion.
Key Highlights
- 3,436‑square‑foot mixed‑use property on a 1.06‑acre lot
- Zoned for residential and professional use, with City of Lake Wales approval for professional purposes
- Access on all four sides, including 245 feet along State Road 60
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,694
Cap Rate
8.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,880
$773.9K
Cap Rate 7%
$552,771
$552.8K
Cap Rate 9%
$429,933
$429.9K
Market Conditions
NOI Build-Up for 3,436 SF
Gross rent
$68.0K $19.80/SF
− Vacancy
−$6.1K −$1.78/SF
EGI
$61.9K $18.02/SF
− OpEx
−$23.2K −$6.76/SF
NOI
$38.7K $11.26/SF
Area
Polk County, FL
Vacancy
9.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$773,880
Cap Rate 7%
$552,771
Cap Rate 9%
$429,933
Alternative Uses
Best Use
Mixed Use
$552.8K
$483.7K – $644.9K
NOI $38,694 @ 7.0% cap · market cap 8.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$825.7K
$722.5K – $963.3K
NOI $57,799 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
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
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Mixed-use property - Residential and professional zoning supports flexible mixed-use occupancy.
Where is this mixed-use property located?
The property is located at 811 State Road 60 E Lake Wales, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 3,436‑square‑foot mixed‑use property on a 1.06‑acre lot; Zoned for residential and professional use, with City of Lake Wales approval for professional purposes; Access on all four sides, including 245 feet along State Road 60
