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    Corner Lot on State Road Title is generated by Realmo AI

    STATE ROAD 60 E, Lake Wales, FL 33898

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    Claim this Listing
    For Sale
    $385,000

    Land - LAKE WALES, FL

    Lot size:
    5.05 Acres
    Added:
    Dec 30, 2025
    Days on Market:
    132
    Last Refresh:
    May 11 at 8:06 pm

    Property Features for STATE ROAD 60 E

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    29-30-16-992665-000110
    Lot size
    5.05 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1104.8

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Feng Wu
    Feng Wu

    Listing agent Feng Wu License #3448723

    Listing office SIGNATURE REALTY ASSOCIATES 2234 Lithia Center Ln, VALRICO, FL

    Listing date Dec 30, 2025

    MLS# TB8459688 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility corner lot with 660 ft frontage on SR 60, benefiting from 13,700‑16,800 AADT
    • Strategic location adjacent to Doherty Dr., the sole access road for a 1,400‑unit residential community
    • Zoned Agriculture/Rural Residential (ARR) with potential for commercial rezoning, offering diverse development possibilities
    • Utilities readily available via Gold Coast Utilities
    • Sizeable 5.05‑acre lot in Flood Zone X, facilitating ease of development
    • Seller financing available, presenting an attractive investment opportunity

    Overview

    This 5.05-acre corner lot is located at the intersection of State Road 60 and Doherty Drive in Lake Wales. The property is currently zoned as Agriculture/Rural Residential (ARR), permitting various land uses such as religious institutions, isolated convenience stores, and mobile home parks. Rezoning for commercial use is possible, given its commercial potential. The property features 660 feet of frontage along State Road 60, offering strong, unobstructed visibility with an Annual Average Daily Traffic (AADT) count of 13,700-16,800. Easy access is facilitated by its corner positioning, turn lanes, and median cuts. Adjacent to Doherty Drive, the property is near a 1,400-unit residential community, including NALCEST, Walden Shore of Lake Wales, and Lakeshore, with other communities within 7 miles, such as Indian Lake Estates, Lake Walk-in-Water Estates, and Saddlebag Lake Resort. Gold Coast Utilities is nearby and can extend utilities to the site. Located in flood zone X, the property offers ample space for development to serve the local community. Seller financing is available. The cross-street property is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Lake Wales
    County
    Polk
    State
    Florida
    Longitude
    -81.4208337
    Latitude
    27.8783346

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    FAQs

    What type of property is this?
    Commercial land - 5.05 acre corner lot with commercial potential.
    Where is this commercial land located?
    The property is located at STATE ROAD 60 E Lake Wales, FL.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: High‑visibility corner lot with 660 ft frontage on SR 60, benefiting from 13,700‑16,800 AADT; Strategic location adjacent to Doherty Dr., the sole access road for a 1,400‑unit residential community; Zoned Agriculture/Rural Residential (ARR) with potential for commercial rezoning, offering diverse development possibilities
    (813) 416-5630
    We can help!
    Listing Contact
    Feng Wu
    Feng Wu
    Real Estate License ID: 3448723
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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