3151 Canal RdLake Wales, FL 33898

Property Details for 3151 Canal Rd

Year built

1987

Lot size

0.76 AC

Property size (Sq ft)

4,690 SF

Property type

Retail properties

Property subtype

Retail space

APN

282832000000044090

APU

282832000000044090

Description

This exceptional investment opportunity presents a 0.76-acre commercial land parcel in Lake Wales, Florida, encompassing a fully turnkey restaurant. Located at 3151 Canal Road, 33898, this 1,500 square foot establishment boasts a prime location directly across from Cherry Pocket, a well-known local landmark. Established for over 15 years, this family-run restaurant enjoys a loyal clientele and offers both dine-in and takeout services. The sale includes all equipment, furniture, established recipes, and the brand name, providing a seamless transition for the new owner. The seller will provide training post-sale. This represents a rare chance to acquire a thriving, well-regarded restaurant with substantial growth potential in the heart of Central Florida. The property is move-in ready, minimizing initial setup costs and maximizing immediate return on investment. This turnkey operation offers a unique blend of established success and future expansion possibilities, making it an attractive proposition for both seasoned investors and first-time restaurant owners. The property's convenient location and strong reputation within the community ensure a steady stream of customers. This is a truly exceptional opportunity to own a piece of Central Florida's thriving culinary scene.

• CAP approach

  CAP return

  Valuation

  6%

  $2,014,963

  6.5%

  $1,859,966

  7%

  $1,727,111

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,422,889

  Geo Method

  $1,855,906

• Alternative Use

  Use

  Valuation

  Residential

  $1,568,951

  Hospitality

  $1,437,150

  Educational

  $1,195,692

  Medical

  $1,236,814

  Retail

  $1,859,966

Location Insight

City

Lake Wales

County

Polk

State

Florida

Latitude

27.9977

Longitude

-81.5437

CBSA code

29460

CBSA name

LAKELAND, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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