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    Grove Ave Lake Wales, FL 33853

    For Sale
    $1,560,000

    6.51 Acres, Multi-Family Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    Exceptional 6.51-acre residential development opportunity in Lake Wales, Florida, is now available for $1,560,000. This fee-simple property, identified by Polk County Parcel ID 27-30-11-000000-014020, boasts an R3 zoning designation, allowing for a maximum density of 12 units per acre, with potential for higher density through a Planned Unit Project (PUP). Situated at the southwest corner of East Grove Avenue and 1st Street, this all-upland lot offers convenient access to essential amenities. Nearby attractions include The Club at Lake Wales (ALF), Waters Edge of Lake Wales, Publix, Dollar Tree, Bealls Outlet, and McLaughlin Middle School, all within walking distance. The property benefits from excellent infrastructure, including a 6-inch water main on Grove Avenue, an 8-inch water main on 1st Street frontage, 8-inch gravity sewer lines on all four sides, and a 16-inch force main on Grove Avenue. A 45-foot height limit applies. The City of Lake Wales encourages niche development proposals for this site

    Property Features for 0 Grove Ave

    General Information

    Property type
    Land
    Lot Size
    283,576 SF

    HighLights

    • Polk County Parcel ID 27‑30‑11‑000000‑014020
    • 6.51‑acre upland site at the southwest corner of East Grove Avenue and 1st Street, Lake Wales, FL
    • R3 zoning, allowing 12 units per acre, with potential for higher density via Planned Unit Project (PUP)
    • 45‑foot height limit
    • City of Lake Wales prefers niche development; details available at www.addisonland.com
    • Excellent infrastructure: 6" water main on Grove Avenue, 8" water main on 1st Street, 8" gravity sewer lines on all sides, and a 16" force main on Grove Avenue.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.588958
    Latitude
    27.889571

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    FAQs

    What type of property is this?
    Land - 6.51 Acres, Multi-Family Potential
    Where is this land located?
    The property is located at Grove Ave Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $1,560,000.
    What are key features of this property?
    This property features: Polk County Parcel ID 27-30-11-000000-014020; 6.51-acre upland site at the southwest corner of East Grove Avenue and 1st Street, Lake Wales, FL; R3 zoning, allowing 12 units per acre, with potential for higher density via Planned Unit Project (PUP)
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Grove Ave Lake Wales, FL 33853
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