0 Grove Ave Lake Wales, FL 33853
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
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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Property description
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