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    550 State Road 60 Lake Wales, FL 33853

    For Sale
    $1,500,000

    4.3 Acres, High-Traffic Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 4.3-acre commercial land parcel presents a prime development opportunity in Lake Wales, Florida. Located on State Road 60, it boasts 27,000 average daily vehicles and is near the intersection with US 27 (29,500 daily vehicles). The property is an outparcel to a Save-A-Lot anchored retail center, offering excellent visibility and accessibility. Zoned C-3 (Highway Commercial), permitted uses include restaurants, hotels, motels, professional offices, auto service stations, convenience stores, and retail stores. The site's future land use designation is Community Activity Center, further enhancing its development potential. Its strategic location is complemented by proximity to Lake Wales Municipal Airport (1.6 miles), Lake Wales Medical Center (2.7 miles), and the renowned Bok Tower Gardens (5.2 miles). Significant highway improvements at the US 27 and SR 60 interchange are underway, promising enhanced traffic flow and regional accessibility. The asking price is $1,500,000, representing a price per acre of $325,000. The property's APN is 273003000000023020. This is a rare opportunity to acquire a well-positioned commercial development site in a thriving Florida community.

    Property Features for 550 State Road 60

    General Information

    Property type
    Land
    Lot Size
    187,308 SF

    HighLights

    • 4.3‑acre outparcel to a Save‑A‑Lot anchored retail center.
    • C‑3 (Highway Commercial) zoned land, approximately 4.3 acres.
    • Permitted uses include restaurants, hotels, motels, professional offices, auto service stations, convenience stores, and retail stores.
    • Located on SR 60, near the intersection with US 27; SR 60 sees 27,000 vehicles daily.
    • 1.6 miles from Lake Wales Municipal Airport and 2.7 miles from Lake Wales Medical Center.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.603220092723
    Latitude
    27.898243516704

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    FAQs

    What type of property is this?
    Land - 4.3 Acres, High-Traffic Location
    Where is this land located?
    The property is located at 550 State Road 60 Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 4.3-acre outparcel to a Save-A-Lot anchored retail center.; C-3 (Highway Commercial) zoned land, approximately 4.3 acres.; Permitted uses include restaurants, hotels, motels, professional offices, auto service stations, convenience stores, and retail stores.
    (407) 557-3847
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    550 State Road 60 Lake Wales, FL 33853
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    Lake Wales, FL 33853
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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
    550 State Road 60 Lake Wales, FL 33853
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