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    Burns Ave Lake Wales, FL 33853

    Sponsored
    For Sale
    $12,000,000

    76 Acres, 520 Units, Prime Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 76.95-acre land parcel in Lake Wales, Florida, presents a remarkable opportunity for residential development. Located on Burns Ave, with a Polk County address and zip code 33853, this property is zoned R-3 - PD (Planned Development), allowing for the construction of up to 520 residential units. The site boasts a prime location within a thriving residential area, offering convenient access to shopping and essential amenities. This makes it an ideal location for a high-rise multifamily development or other residential projects. The asking price is $12,000,000, translating to approximately $23,076 per unit. The property's APN is 27-29-22-866300-041010. This versatile investment opportunity is situated in a growing community, promising significant returns for the right developer. The property's ownership is classified as "Development," indicating its readiness for immediate project commencement. This is a unique chance to capitalize on the strong residential market in Lake Wales, Florida. The property's coordinates are latitude 27.913858 and longitude -81.5672898.

    Property Features for 0 Burns Ave

    General Information

    Property type
    Multifamily properties
    Lot Size
    3,351,942 SF

    HighLights

    • 76.95‑acre land parcel zoned R‑3 - PD (Planned Development), allowing up to 520 residential units.
    • Ideal for residential development, offering convenient access to shopping and amenities.
    • Prime location in a thriving residential area of Lake Wales, Florida.
    • Versatile investment opportunity with an asking price of $12,000,000 ($23,076 per unit).
    Property Profile Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Map

    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.5672898
    Latitude
    27.913858

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    FAQs

    What type of property is this?
    Multifamily property - 76 Acres, 520 Units, Prime Location
    Where is this multifamily property located?
    The property is located at Burns Ave Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $12,000,000.
    What are key features of this property?
    This property features: 76.95-acre land parcel zoned R-3 - PD (Planned Development), allowing up to 520 residential units.; Ideal for residential development, offering convenient access to shopping and amenities.; Prime location in a thriving residential area of Lake Wales, Florida.
    (863) 224-0835
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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
    Burns Ave Lake Wales, FL 33853
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